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

Shares of CVRx, Inc. (NASDAQ:CVRX) have received a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, three have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $11.20.

A number of brokerages have recently commented on CVRX. Canaccord Genuity Group cut their target price on shares of CVRx from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. Cantor Fitzgerald raised shares of CVRx to a “strong-buy” rating in a research report on Tuesday, February 17th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of CVRx in a report on Monday, December 29th.

CVRx Stock Up 6.8%

Shares of NASDAQ:CVRX opened at $9.46 on Wednesday. The stock has a 50-day simple moving average of $7.36 and a 200-day simple moving average of $8.12. The stock has a market capitalization of $248.89 million, a P/E ratio of -4.61 and a beta of 1.28. CVRx has a 1 year low of $4.30 and a 1 year high of $13.15. The company has a debt-to-equity ratio of 1.26, a quick ratio of 6.72 and a current ratio of 7.63.

CVRx (NASDAQ:CVRX) last posted its quarterly earnings results on Thursday, February 12th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.04). The business had revenue of $16.02 million during the quarter, compared to analysts’ expectations of $15.75 million. CVRx had a negative net margin of 94.10% and a negative return on equity of 99.32%. Equities analysts forecast that CVRx will post -1.91 earnings per share for the current year.

Insider Buying and Selling at CVRx

In related news, Director Mudit K. Jain bought 46,800 shares of the stock in a transaction dated Friday, February 20th. The stock was acquired at an average price of $6.36 per share, for a total transaction of $297,648.00. Following the completion of the purchase, the director owned 980,183 shares in the company, valued at $6,233,963.88. This represents a 5.01% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 18.90% of the stock is owned by insiders.

Hedge Funds Weigh In On CVRx

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Larson Financial Group LLC boosted its holdings in CVRx by 155.6% in the 4th quarter. Larson Financial Group LLC now owns 5,426 shares of the company’s stock worth $39,000 after acquiring an additional 3,303 shares during the period. Intech Investment Management LLC acquired a new stake in CVRx in the second quarter valued at approximately $59,000. R Squared Ltd purchased a new stake in shares of CVRx during the fourth quarter valued at approximately $74,000. Virtu Financial LLC purchased a new stake in shares of CVRx during the fourth quarter valued at approximately $79,000. Finally, Corient Private Wealth LLC acquired a new position in shares of CVRx during the fourth quarter worth $81,000. 75.27% of the stock is owned by institutional investors and hedge funds.

CVRx Company Profile

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.