Wall Street Zen Downgrades CVRx (NASDAQ:CVRX) to Sell

CVRx (NASDAQ:CVRX) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

Several other brokerages have also issued reports on CVRX. Canaccord Genuity Group reissued a “buy” rating and issued a $10.00 price target on shares of CVRx in a report on Tuesday, April 14th. Weiss Ratings lowered shares of CVRx from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 6th. Finally, Cantor Fitzgerald raised shares of CVRx to a “strong-buy” rating in a report on Tuesday, February 17th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $11.50.

CVRx Stock Performance

Shares of CVRx stock opened at $5.03 on Friday. The firm has a fifty day moving average of $6.67 and a two-hundred day moving average of $7.30. The stock has a market capitalization of $133.50 million, a price-to-earnings ratio of -2.49 and a beta of 0.80. CVRx has a 52 week low of $4.37 and a 52 week high of $11.30. The company has a debt-to-equity ratio of 2.01, a quick ratio of 8.89 and a current ratio of 10.20.

CVRx (NASDAQ:CVRX) last issued its earnings results on Monday, May 11th. The company reported ($0.50) EPS for the quarter, beating the consensus estimate of ($0.51) by $0.01. The company had revenue of $14.77 million during the quarter, compared to analysts’ expectations of $14.49 million. CVRx had a negative net margin of 89.14% and a negative return on equity of 120.76%. As a group, equities research analysts predict that CVRx will post -1.89 EPS for the current year.

Institutional Trading of CVRx

Hedge funds and other institutional investors have recently modified their holdings of the company. Larson Financial Group LLC raised its stake in shares of CVRx by 155.6% in the 4th quarter. Larson Financial Group LLC now owns 5,426 shares of the company’s stock valued at $39,000 after purchasing an additional 3,303 shares during the period. R Squared Ltd acquired a new stake in shares of CVRx in the 4th quarter valued at about $74,000. Virtu Financial LLC acquired a new stake in shares of CVRx in the 4th quarter valued at about $79,000. Corient Private Wealth LLC acquired a new stake in shares of CVRx in the 4th quarter valued at about $81,000. Finally, XTX Topco Ltd acquired a new stake in shares of CVRx in the 4th quarter valued at about $90,000. Institutional investors and hedge funds own 75.27% of the company’s stock.

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.