CVRx (NASDAQ:CVRX) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen downgraded shares of CVRx (NASDAQ:CVRX) from a hold rating to a sell rating in a research note issued to investors on Sunday,Wall Street Zen reports.

Several other equities analysts have also recently commented on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of CVRx in a research note on Monday, August 3rd. Lake Street Capital downgraded shares of CVRx from a “buy” rating to a “hold” rating and dropped their price target for the stock from $14.00 to $3.50 in a research report on Friday, August 7th. Cantor Fitzgerald reduced their price target on shares of CVRx from $13.00 to $5.00 and set an “overweight” rating for the company in a research note on Monday, August 17th. Craig Hallum cut shares of CVRx from a “buy” rating to a “hold” rating and set a $4.00 price objective for the company. in a report on Friday, August 7th. Finally, Piper Sandler lowered shares of CVRx from an “overweight” rating to a “neutral” rating and set a $4.00 price objective on the stock. in a research note on Friday, August 7th. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, CVRx currently has an average rating of “Hold” and a consensus price target of $5.30.

CVRx Stock Performance

Shares of CVRX stock opened at $3.04 on Friday. The company has a debt-to-equity ratio of 2.94, a quick ratio of 6.87 and a current ratio of 8.04. CVRx has a 1 year low of $2.20 and a 1 year high of $11.30. The stock has a fifty day moving average of $3.78 and a two-hundred day moving average of $5.73. The firm has a market capitalization of $80.99 million, a PE ratio of -1.54 and a beta of 0.76.

CVRx (NASDAQ:CVRX) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.01). CVRx had a negative net margin of 84.93% and a negative return on equity of 152.35%. 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 EPS for the current year.

Insider Transactions at CVRx

In other CVRx news, COO Brent Binkowski purchased 26,223 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were purchased at an average cost of $2.91 per share, for a total transaction of $76,308.93. Following the completion of the transaction, the chief operating officer owned 56,514 shares in the company, valued at $164,455.74. The trade was a 86.57% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 16.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CVRx

Several large investors have recently made changes to their positions in CVRX. Bank of America Corp DE bought a new stake in shares of CVRx in the 2nd quarter worth approximately $102,000. BlackRock Inc. bought a new stake in CVRx during the second quarter worth approximately $6,402,000. Deutsche Bank AG bought a new stake in CVRx during the second quarter worth approximately $62,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in CVRx in the second quarter worth approximately $107,000. Finally, Bank of New York Mellon Corp acquired a new position in CVRx in the second quarter worth approximately $199,000. Institutional investors own 75.27% of the company’s stock.

CVRx Company Profile

CVRx, Inc is a medical device company that develops and commercializes neuromodulation therapies for patients with cardiovascular diseases. The company’s technology is designed to use the body’s nervous system to help regulate cardiovascular function and address conditions that may not be adequately managed with conventional drug therapy.

CVRx’s primary product is Barostim, an implantable system that electrically stimulates the baroreceptors located near the carotid arteries. The therapy is intended to activate the body’s natural cardiovascular regulation mechanisms and is used primarily in eligible patients with heart failure, including certain patients with reduced ejection fraction.