CVRx, Inc. (NASDAQ:CVRX) Stock Has Average Target Price of $4.30 According to Analysts

CVRx, Inc. (NASDAQ:CVRX) has received a consensus rating of “Hold” from the six analysts that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $4.30.

Several equities analysts recently issued reports on CVRX shares. Piper Sandler lowered CVRx from an “overweight” rating to a “neutral” rating and set a $4.00 price objective for the company. in a research report on Friday, August 7th. Lake Street Capital lowered shares of CVRx from a “buy” rating to a “hold” rating and cut their price target for the company from $14.00 to $3.50 in a research note on Friday, August 7th. Weiss Ratings reiterated a “sell (e+)” rating on shares of CVRx in a report on Monday, August 3rd. Wall Street Zen downgraded shares of CVRx from a “hold” rating to a “sell” rating in a research report on Sunday, September 20th. Finally, Canaccord Genuity Group set a $5.00 price objective on shares of CVRx in a report on Tuesday, September 22nd.

Insider Transactions at CVRx

In other news, COO Brent Binkowski purchased 26,223 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were purchased at an average price of $2.91 per share, with a total value of $76,308.93. Following the purchase, the chief operating officer directly owned 56,514 shares of the company’s stock, valued at $164,455.74. This trade represents a 86.57% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 16.60% of the company’s stock.

Institutional Investors Weigh In On CVRx

Several institutional investors have recently bought and sold shares of the company. Deutsche Bank AG bought a new position in shares of CVRx during the 2nd quarter worth approximately $62,000. Aaron Wealth Advisors LLC acquired a new position in CVRx during the first quarter worth $101,000. Bank of America Corp DE acquired a new position in CVRx during the second quarter worth $102,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in CVRx in the second quarter valued at $107,000. Finally, Renaissance Technologies LLC bought a new position in CVRx in the first quarter valued at $183,000. Institutional investors own 75.27% of the company’s stock.

CVRx Price Performance

Shares of CVRX stock opened at $1.55 on Friday. CVRx has a 12-month low of $1.50 and a 12-month high of $11.30. The firm has a market capitalization of $41.29 million, a price-to-earnings ratio of -0.78 and a beta of 0.77. The company has a quick ratio of 6.87, a current ratio of 8.04 and a debt-to-equity ratio of 2.94. The firm has a fifty day moving average of $3.25 and a 200-day moving average of $5.36.

CVRx (NASDAQ:CVRX) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.52) by ($0.01). CVRx had a negative return on equity of 152.35% and a negative net margin of 84.93%.The business had revenue of $15.71 million for the quarter, compared to analyst estimates of $15.55 million. On average, equities research analysts forecast that CVRx will post -2 earnings per share for the current year.

About CVRx

CVRx, Inc is a medical device company that develops and commercializes neuromodulation therapies for patients with cardiovascular diseases. The company’s technology is designed to use the body’s nervous system to help regulate cardiovascular function and address conditions that may not be adequately managed with conventional drug therapy.

CVRx’s primary product is Barostim, an implantable system that electrically stimulates the baroreceptors located near the carotid arteries. The therapy is intended to activate the body’s natural cardiovascular regulation mechanisms and is used primarily in eligible patients with heart failure, including certain patients with reduced ejection fraction.