PharVision Advisers LLC Makes New Investment in CVRx, Inc. (NASDAQ:CVRX)

PharVision Advisers LLC purchased a new position in shares of CVRx, Inc. (NASDAQ:CVRX) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 20,480 shares of the company’s stock, valued at approximately $259,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tower Research Capital LLC TRC increased its stake in CVRx by 43.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,900 shares of the company’s stock worth $49,000 after buying an additional 1,186 shares during the period. Quarry LP purchased a new stake in shares of CVRx during the fourth quarter worth $69,000. MetLife Investment Management LLC acquired a new stake in shares of CVRx in the fourth quarter valued at $111,000. Wells Fargo & Company MN boosted its holdings in CVRx by 86.1% in the fourth quarter. Wells Fargo & Company MN now owns 8,894 shares of the company’s stock valued at $113,000 after purchasing an additional 4,115 shares during the period. Finally, Boothbay Fund Management LLC purchased a new position in CVRx in the fourth quarter valued at $127,000. Hedge funds and other institutional investors own 75.27% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on CVRX shares. JPMorgan Chase & Co. restated an “underweight” rating and set a $7.00 price target (down previously from $15.00) on shares of CVRx in a report on Friday, May 9th. Piper Sandler cut their target price on shares of CVRx from $20.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, May 9th. Lake Street Capital reduced their target price on shares of CVRx from $19.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Finally, Canaccord Genuity Group lowered their price target on shares of CVRx from $23.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the company. According to data from MarketBeat.com, CVRx has a consensus rating of “Moderate Buy” and a consensus target price of $14.50.

Insider Transactions at CVRx

In related news, Director Kirk G. Nielsen purchased 10,966 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The shares were purchased at an average cost of $5.45 per share, for a total transaction of $59,764.70. Following the purchase, the director now directly owns 1,910,134 shares of the company’s stock, valued at $10,410,230.30. The trade was a 0.58% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders purchased 78,666 shares of company stock worth $411,031. 13.90% of the stock is currently owned by insiders.

CVRx Trading Down 10.4%

NASDAQ:CVRX opened at $6.26 on Thursday. CVRx, Inc. has a 1 year low of $4.30 and a 1 year high of $18.55. The stock has a market cap of $163.22 million, a P/E ratio of -2.33 and a beta of 1.39. The company has a debt-to-equity ratio of 0.69, a quick ratio of 10.23 and a current ratio of 12.06. The stock has a 50-day simple moving average of $8.40 and a 200-day simple moving average of $12.28.

CVRx (NASDAQ:CVRX) last posted its earnings results on Thursday, May 8th. The company reported ($0.53) earnings per share for the quarter, topping the consensus estimate of ($0.56) by $0.03. The firm had revenue of $12.35 million during the quarter, compared to analysts’ expectations of $14.68 million. CVRx had a negative return on equity of 93.06% and a negative net margin of 116.91%. As a group, analysts anticipate that CVRx, Inc. will post -1.91 earnings per share for the current fiscal year.

CVRx Profile

CVRx, Inc, a commercial-stage medical device company, focuses on developing, manufacturing, and commercializing neuromodulation solutions for patients with cardiovascular diseases. The company offers Barostim, a neuromodulation device indicated to improve symptoms for patients with heart failure with reduced ejection fraction or systolic heart failure.