CVRx (NASDAQ:CVRX) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of CVRx (NASDAQ:CVRX) from a sell rating to a hold rating in a research note released on Saturday.

A number of other analysts also recently commented on CVRX. Weiss Ratings downgraded CVRx from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 6th. Canaccord Genuity Group restated a “buy” rating and set a $10.00 price objective on shares of CVRx in a report on Tuesday, April 14th. Finally, Cantor Fitzgerald upgraded CVRx to a “strong-buy” rating in a report on Tuesday, February 17th. Two equities research 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. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $11.50.

CVRx Trading Up 4.4%

Shares of CVRX opened at $5.99 on Friday. The stock has a fifty day moving average of $7.80 and a two-hundred day moving average of $7.89. The company has a debt-to-equity ratio of 2.01, a quick ratio of 6.72 and a current ratio of 10.20. The company has a market capitalization of $158.97 million, a PE ratio of -2.97 and a beta of 0.90. CVRx has a fifty-two week low of $4.37 and a fifty-two week high of $11.30.

CVRx (NASDAQ:CVRX) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.50) earnings per share 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 the consensus estimate of $14.49 million. CVRx had a negative return on equity of 120.76% and a negative net margin of 89.14%. As a group, analysts forecast that CVRx will post -1.88 EPS for the current year.

Insider Activity at CVRx

In other news, Director Mudit K. Jain acquired 46,800 shares of the company’s stock in a transaction dated Friday, February 20th. The stock was acquired at an average cost of $6.36 per share, for a total transaction of $297,648.00. Following the acquisition, the director directly owned 980,183 shares in the company, valued at approximately $6,233,963.88. This represents a 5.01% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 13.90% of the stock is currently owned by insiders.

Institutional Trading of CVRx

Institutional investors have recently added to or reduced their stakes in the business. Larson Financial Group LLC boosted its position in CVRx by 155.6% during the 4th quarter. Larson Financial Group LLC now owns 5,426 shares of the company’s stock worth $39,000 after purchasing an additional 3,303 shares during the period. R Squared Ltd purchased a new stake in CVRx during the 4th quarter worth $74,000. Aaron Wealth Advisors LLC purchased a new stake in CVRx during the 1st quarter worth $101,000. Virtu Financial LLC purchased a new stake in CVRx during the 4th quarter worth $79,000. Finally, Corient Private Wealth LLC purchased a new stake in CVRx during the 4th quarter worth $81,000. 75.27% of the stock is owned by hedge funds and other institutional investors.

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.