CVRx (NASDAQ:CVRX) Lowered to “Market Perform” at William Blair

William Blair downgraded shares of CVRx (NASDAQ:CVRX) from an outperform rating to a market perform rating in a research report sent to investors on Wednesday morning, MarketBeat Ratings reports.

Several other equities research analysts have also weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of CVRx from $31.00 to $36.00 and gave the stock an overweight rating in a report on Friday, January 26th. Piper Sandler lifted their target price on CVRx from $21.00 to $33.00 and gave the stock an overweight rating in a report on Friday, January 26th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, CVRx has a consensus rating of Moderate Buy and an average target price of $16.60.

CVRx Stock Down 34.8 %

Shares of NASDAQ:CVRX opened at $10.12 on Wednesday. The firm’s 50 day simple moving average is $18.62 and its 200 day simple moving average is $21.07. CVRx has a fifty-two week low of $7.77 and a fifty-two week high of $33.13. The company has a current ratio of 14.25, a quick ratio of 12.86 and a debt-to-equity ratio of 0.38.

Insider Activity at CVRx

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Level Four Advisory Services LLC raised its stake in CVRx by 6.8% in the 4th quarter. Level Four Advisory Services LLC now owns 28,885 shares of the company’s stock valued at $908,000 after acquiring an additional 1,844 shares during the period. Federated Hermes Inc. acquired a new stake in CVRx during the 4th quarter worth approximately $102,000. Emerald Advisers LLC boosted its stake in CVRx by 1.3% in the 3rd quarter. Emerald Advisers LLC now owns 501,073 shares of the company’s stock valued at $7,601,000 after purchasing an additional 6,419 shares during the period. Trexquant Investment LP acquired a new position in CVRx in the 4th quarter valued at $426,000. Finally, Jump Financial LLC bought a new position in CVRx during the 4th quarter worth $499,000. 75.27% of the stock is currently owned by institutional investors and hedge funds.

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.