CVRx (NASDAQ:CVRX) Cut to “Sell” at Wall Street Zen

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

A number of other equities analysts have also weighed in on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of CVRx in a research note on Monday, August 3rd. Canaccord Genuity Group restated a “buy” rating and issued a $10.00 price target on shares of CVRx in a research note on Tuesday, April 14th. Lake Street Capital lowered CVRx from a “buy” rating to a “hold” rating and decreased their price objective for the company from $14.00 to $3.50 in a report on Friday. Craig Hallum cut CVRx from a “buy” rating to a “hold” rating and set a $4.00 price objective on the stock. in a research report on Friday. Finally, Piper Sandler downgraded CVRx from an “overweight” rating to a “neutral” rating and set a $4.00 target price for the company. in a report on Friday. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, CVRx presently has an average rating of “Hold” and a consensus target price of $6.90.

CVRx Stock Down 0.8%

Shares of CVRX opened at $2.37 on Friday. CVRx has a 52 week low of $2.20 and a 52 week high of $11.30. The firm has a market cap of $63.14 million, a P/E ratio of -1.20 and a beta of 0.81. The firm’s 50-day simple moving average is $5.13 and its 200 day simple moving average is $6.48. The company has a debt-to-equity ratio of 2.94, a quick ratio of 6.87 and a current ratio of 8.04.

CVRx (NASDAQ:CVRX) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.52) by ($0.01). CVRx had a negative net margin of 84.93% and a negative return on equity of 152.35%. The company had revenue of $15.71 million during the quarter, compared to the consensus estimate of $15.55 million. On average, analysts forecast that CVRx will post -1.89 earnings per share for the current year.

Institutional Investors Weigh In On CVRx

A number of hedge funds and other institutional investors have recently made changes to their positions in CVRX. Larson Financial Group LLC boosted its stake in shares of CVRx by 155.6% in the fourth quarter. Larson Financial Group LLC now owns 5,426 shares of the company’s stock valued at $39,000 after buying an additional 3,303 shares during the period. Deutsche Bank AG bought a new position in CVRx during the 2nd quarter worth $62,000. R Squared Ltd bought a new position in CVRx during the 4th quarter worth $74,000. Virtu Financial LLC acquired a new position in CVRx in the 4th quarter valued at $79,000. Finally, Corient Private Wealth LLC acquired a new position in CVRx in the 4th quarter valued at $81,000. 75.27% of the stock is currently owned by institutional investors and hedge funds.

About CVRx

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.