Archon Capital Management LLC Sells 76,666 Shares of CVRx, Inc. $CVRX

Archon Capital Management LLC decreased its position in shares of CVRx, Inc. (NASDAQ:CVRX) by 30.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 175,000 shares of the company’s stock after selling 76,666 shares during the quarter. Archon Capital Management LLC’s holdings in CVRx were worth $1,029,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in CVRX. Mount Lucas Management LP purchased a new stake in CVRx during the 2nd quarter valued at $30,000. Intech Investment Management LLC purchased a new stake in shares of CVRx during the second quarter valued at $59,000. AlphaQuest LLC boosted its position in shares of CVRx by 725.4% during the first quarter. AlphaQuest LLC now owns 6,108 shares of the company’s stock valued at $75,000 after buying an additional 5,368 shares during the last quarter. Philadelphia Trust Co. bought a new stake in CVRx in the 2nd quarter worth about $88,000. Finally, Deutsche Bank AG raised its position in CVRx by 41.5% in the 1st quarter. Deutsche Bank AG now owns 10,390 shares of the company’s stock worth $127,000 after buying an additional 3,048 shares during the last quarter. 75.27% of the stock is currently owned by hedge funds and other institutional investors.

CVRx Stock Performance

CVRX opened at $9.35 on Friday. The company has a 50 day simple moving average of $9.46 and a two-hundred day simple moving average of $7.92. The company has a debt-to-equity ratio of 1.03, a current ratio of 9.62 and a quick ratio of 8.60. The firm has a market cap of $245.06 million, a P/E ratio of -4.63 and a beta of 1.29. CVRx, Inc. has a 1-year low of $4.30 and a 1-year high of $18.55.

CVRx (NASDAQ:CVRX) last issued its 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 during the quarter, compared to the consensus estimate of $14.16 million. Equities analysts forecast that CVRx, Inc. will post -1.91 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on CVRX. Canaccord Genuity Group boosted their price objective on shares of CVRx from $9.00 to $11.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Weiss Ratings reiterated a “sell (e+)” rating on shares of CVRx in a research note on Thursday, October 30th. Finally, Cantor Fitzgerald raised their price target on CVRx from $11.00 to $13.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, CVRx currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.17.

Insider Transactions at CVRx

In other CVRx news, major shareholder & Johnson Johnson sold 52,332 shares of the company’s stock in a transaction that occurred 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 transaction, the insider directly owned 4,051,098 shares in the company, valued at $41,361,710.58. This represents a 1.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 56,232 shares of company stock worth $573,442. 13.90% of the stock is currently owned by company insiders.

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.