Corton Capital Inc. Takes $176,000 Position in CVRx, Inc. $CVRX

Corton Capital Inc. purchased a new position in CVRx, Inc. (NASDAQ:CVRX) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 29,864 shares of the company’s stock, valued at approximately $176,000.

Other large investors also recently bought and sold shares of the company. Lord Abbett & CO. LLC bought a new stake in CVRx during the first quarter worth about $4,852,000. Parkman Healthcare Partners LLC lifted its holdings in shares of CVRx by 33.5% during the first quarter. Parkman Healthcare Partners LLC now owns 1,229,522 shares of the company’s stock valued at $15,037,000 after purchasing an additional 308,348 shares during the last quarter. Principal Financial Group Inc. purchased a new position in shares of CVRx during the first quarter valued at approximately $731,000. Informed Momentum Co LLC bought a new stake in shares of CVRx in the 1st quarter worth approximately $683,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of CVRx in the 1st quarter worth approximately $675,000. 75.27% of the stock is owned by hedge funds and other institutional investors.

CVRx Trading Down 3.6%

CVRx stock opened at $9.99 on Wednesday. CVRx, Inc. has a one year low of $4.30 and a one year high of $18.55. The business’s fifty day moving average is $8.61 and its 200 day moving average is $7.49. The stock has a market capitalization of $261.26 million, a PE ratio of -4.76 and a beta of 1.28. The company has a debt-to-equity ratio of 0.85, a current ratio of 11.99 and a quick ratio of 10.78.

CVRx (NASDAQ:CVRX) last posted its earnings results on Monday, August 4th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.52) by ($0.05). CVRx had a negative net margin of 95.61% and a negative return on equity of 79.31%. The company had revenue of $13.59 million for the quarter, compared to the consensus estimate of $13.22 million. On average, sell-side analysts predict that CVRx, Inc. will post -1.91 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CVRX shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of CVRx in a research report on Thursday, October 30th. Cantor Fitzgerald reissued an “overweight” rating and issued a $11.00 target price on shares of CVRx in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $14.00.

CVRx 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.