CVRx (NASDAQ:CVRX) Coverage Initiated at Craig Hallum

Analysts at Craig Hallum started coverage on shares of CVRx (NASDAQ:CVRX) in a research report issued to clients and investors on Wednesday, StockNewsAPI reports. The brokerage set a “buy” rating and a $23.00 price target on the stock. Craig Hallum’s target price would suggest a potential upside of 134.45% from the stock’s previous close.

A number of other analysts have also recently issued reports on CVRX. JPMorgan Chase & Co. cut CVRx from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $36.00 to $13.00 in a research note on Wednesday. Piper Sandler raised their price target on shares of CVRx from $21.00 to $33.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. Finally, William Blair cut shares of CVRx from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, CVRx currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.25.

CVRx Price Performance

Shares of CVRX traded down $5.70 during trading hours on Wednesday, hitting $9.81. The stock had a trading volume of 525,122 shares, compared to its average volume of 148,378. The company has a debt-to-equity ratio of 0.38, a current ratio of 14.25 and a quick ratio of 12.86. CVRx has a 52 week low of $7.77 and a 52 week high of $33.13. The stock has a market capitalization of $211.80 million, a price-to-earnings ratio of -4.49 and a beta of 1.29. The company’s fifty day moving average is $18.62 and its two-hundred day moving average is $21.07.

Insiders Place Their Bets

In related news, insider Paul Verrastro sold 2,545 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $21.91, for a total value of $55,760.95. Following the completion of the sale, the insider now directly owns 2,455 shares of the company’s stock, valued at approximately $53,789.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Paul Verrastro sold 2,545 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $21.91, for a total transaction of $55,760.95. Following the completion of the sale, the insider now directly owns 2,455 shares of the company’s stock, valued at approximately $53,789.05. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder & Johnson Johnson sold 3,725 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $25.81, for a total value of $96,142.25. Following the sale, the insider now directly owns 4,099,575 shares of the company’s stock, valued at $105,810,030.75. The disclosure for this sale can be found here. Company insiders own 18.30% of the company’s stock.

Institutional Investors Weigh In On CVRx

Hedge funds have recently made changes to their positions in the company. Federated Hermes Inc. bought a new position in shares of CVRx during the fourth quarter valued at $102,000. Valeo Financial Advisors LLC purchased a new stake in CVRx in the first quarter worth about $346,000. Trexquant Investment LP purchased a new stake in CVRx in the fourth quarter worth about $426,000. Kestra Advisory Services LLC bought a new position in shares of CVRx in the third quarter worth about $462,000. Finally, Jump Financial LLC bought a new position in shares of CVRx in the fourth quarter worth about $499,000. 75.27% of the stock is currently owned by institutional investors.

CVRx Company 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.