CVRx, Inc. (NASDAQ:CVRX) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of CVRx, Inc. (NASDAQ:CVRX) have been given an average recommendation of “Moderate Buy” by the seven brokerages that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $11.40.

CVRX has been the topic of several recent research reports. Canaccord Genuity Group upped their target price on shares of CVRx from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of CVRx in a research note on Monday, December 29th. Finally, Cantor Fitzgerald raised their price objective on CVRx from $11.00 to $13.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th.

Insiders Place Their Bets

In related news, major shareholder & Johnson Johnson sold 52,332 shares of the firm’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $10.21, for a total value of $534,309.72. Following the completion of the sale, the insider directly owned 4,051,098 shares in the company, valued at $41,361,710.58. This trade represents a 1.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders sold 56,232 shares of company stock worth $573,442. Corporate insiders own 18.90% of the company’s stock.

Institutional Investors Weigh In On CVRx

Several institutional investors have recently made changes to their positions in the company. Mount Lucas Management LP purchased a new position in shares of CVRx during the 2nd quarter worth about $30,000. Intech Investment Management LLC bought a new stake in CVRx in the second quarter worth about $59,000. AlphaQuest LLC boosted its position in shares of CVRx by 114.6% during the second quarter. AlphaQuest LLC now owns 13,106 shares of the company’s stock valued at $77,000 after buying an additional 6,998 shares during the period. Philadelphia Trust Co. bought a new position in shares of CVRx during the second quarter valued at approximately $88,000. Finally, Inscription Capital LLC purchased a new stake in shares of CVRx in the third quarter worth approximately $139,000. Institutional investors own 75.27% of the company’s stock.

CVRx Stock Up 7.3%

NASDAQ CVRX opened at $5.59 on Friday. The stock has a 50 day moving average price of $8.15 and a 200-day moving average price of $8.22. CVRx has a one year low of $4.30 and a one year high of $18.55. The company has a debt-to-equity ratio of 1.03, a quick ratio of 8.60 and a current ratio of 9.62. The company has a market capitalization of $146.51 million, a P/E ratio of -2.77 and a beta of 1.31.

CVRx (NASDAQ:CVRX) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.49) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.01. CVRx had a negative net margin of 92.95% and a negative return on equity of 84.45%. The company had revenue of $14.69 million for the quarter, compared to analysts’ expectations of $14.16 million. As a group, equities analysts predict that CVRx will post -1.91 EPS for the current fiscal year.

About CVRx

CVRx, Inc is a clinical-stage medical device company focused on developing a neuromodulation platform therapy for patients with cardiovascular disease. The company’s flagship product, the Barostim™ system, delivers targeted electrical stimulation to the carotid baroreceptors with the goal of modulating the body’s natural blood pressure control mechanisms. This minimally invasive, implantable therapy is designed to address unmet needs in individuals suffering from hypertension and heart failure.

The Barostim system is currently being evaluated in multiple clinical trials, including studies in resistant hypertension and advanced heart failure.