CVRx’s (CVRX) Underweight Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. reissued their underweight rating on shares of CVRx (NASDAQ:CVRX) in a research report released on Friday morning, MarketBeat reports. JPMorgan Chase & Co. currently has a $7.00 target price on the stock, down from their previous target price of $15.00.

A number of other research analysts also recently commented on the company. Piper Sandler increased their target price on CVRx from $16.00 to $20.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. Canaccord Genuity Group lowered their price objective on shares of CVRx from $23.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. William Blair raised shares of CVRx from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 14th. Lake Street Capital reduced their price objective on CVRx from $19.00 to $14.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Finally, Craig Hallum raised their price objective on CVRx from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CVRx has an average rating of “Moderate Buy” and an average target price of $14.50.

CVRx Price Performance

Shares of NASDAQ:CVRX opened at $4.70 on Friday. The firm has a market cap of $122.47 million, a price-to-earnings ratio of -1.75 and a beta of 1.39. The firm has a fifty day moving average price of $9.29 and a 200 day moving average price of $12.62. CVRx has a fifty-two week low of $4.61 and a fifty-two week high of $18.55. The company has a debt-to-equity ratio of 0.69, a quick ratio of 10.23 and a current ratio of 12.06.

CVRx (NASDAQ:CVRX) last issued its earnings results on Thursday, May 8th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.56) by $0.03. CVRx had a negative return on equity of 93.06% and a negative net margin of 116.91%. The firm had revenue of $12.35 million for the quarter, compared to analysts’ expectations of $14.68 million. As a group, sell-side analysts expect that CVRx will post -1.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CVRx

Large investors have recently bought and sold shares of the business. Larson Financial Group LLC purchased a new stake in CVRx in the first quarter worth $28,000. Tower Research Capital LLC TRC increased its stake in CVRx by 43.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,900 shares of the company’s stock worth $49,000 after buying an additional 1,186 shares during the period. GAMMA Investing LLC increased its stake in CVRx by 1,469.3% in the 1st quarter. GAMMA Investing LLC now owns 4,598 shares of the company’s stock worth $56,000 after buying an additional 4,305 shares during the period. Quarry LP bought a new stake in CVRx during the 4th quarter valued at about $69,000. Finally, Whittier Trust Co. purchased a new stake in CVRx in the 1st quarter valued at about $73,000. Hedge funds and other institutional investors own 75.27% of the company’s stock.

About CVRx

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.