Cantor Fitzgerald Cuts CVRx (NASDAQ:CVRX) Price Target to $5.00

CVRx (NASDAQ:CVRX) had its price objective cut by Cantor Fitzgerald from $13.00 to $5.00 in a report released on Monday morning, MarketBeat Ratings reports. They currently have an overweight rating on the stock.

Several other research analysts also recently issued reports on CVRX. Weiss Ratings restated a “sell (e+)” rating on shares of CVRx in a research report on Monday, August 3rd. Wall Street Zen lowered CVRx from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Lake Street Capital cut CVRx from a “buy” rating to a “hold” rating and lowered their target price for the company from $14.00 to $3.50 in a report on Friday, August 7th. Craig Hallum downgraded CVRx from a “buy” rating to a “hold” rating and set a $4.00 price target for the company. in a research report on Friday, August 7th. Finally, Piper Sandler cut CVRx from an “overweight” rating to a “neutral” rating and set a $4.00 price target for the company. in a report on Friday, August 7th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $5.30.

CVRx Stock Performance

NASDAQ:CVRX opened at $2.82 on Monday. The company has a current ratio of 8.04, a quick ratio of 6.87 and a debt-to-equity ratio of 2.94. The firm has a 50-day moving average price of $4.78 and a two-hundred day moving average price of $6.27. CVRx has a twelve month low of $2.20 and a twelve month high of $11.30. The company has a market capitalization of $75.12 million, a P/E ratio of -1.42 and a beta of 0.81.

CVRx (NASDAQ:CVRX) last announced its earnings results on Thursday, August 6th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.01). CVRx had a negative return on equity of 152.35% and a negative net margin of 84.93%.The business had revenue of $15.71 million for the quarter, compared to analyst estimates of $15.55 million. As a group, research analysts expect that CVRx will post -2 earnings per share for the current fiscal year.

Insider Activity at CVRx

In related news, COO Brent Binkowski acquired 26,223 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were acquired at an average cost of $2.91 per share, for a total transaction of $76,308.93. Following the acquisition, the chief operating officer directly owned 56,514 shares in the company, valued at approximately $164,455.74. The trade was a 86.57% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 16.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CVRx

A number of institutional investors have recently bought and sold shares of the stock. Johnson & Johnson purchased a new position in shares of CVRx in the 2nd quarter worth $20,687,786,000. BlackRock Inc. acquired a new position in CVRx in the second quarter valued at $6,402,000. GSK plc purchased a new stake in CVRx during the fourth quarter valued at about $7,154,000. Royal Bank of Canada grew its position in CVRx by 6,559.3% during the first quarter. Royal Bank of Canada now owns 706,950 shares of the company’s stock valued at $6,688,000 after acquiring an additional 696,334 shares during the period. Finally, Balyasny Asset Management L.P. increased its stake in CVRx by 65.5% during the second quarter. Balyasny Asset Management L.P. now owns 674,685 shares of the company’s stock worth $3,967,000 after acquiring an additional 267,063 shares during the last quarter. 75.27% of the stock is currently owned by hedge funds and other institutional investors.

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.