CVRx (NASDAQ:CVRX) PT Lowered to $14.00

CVRx (NASDAQ:CVRX) had its target price decreased by Canaccord Genuity Group from $32.00 to $14.00 in a report released on Wednesday morning, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Other research analysts have also recently issued reports about the company. JPMorgan Chase & Co. cut CVRx from an overweight rating to a neutral rating and reduced their price objective for the stock from $36.00 to $13.00 in a research note on Wednesday. Craig Hallum initiated coverage on CVRx in a research report on Wednesday. They set a buy rating and a $23.00 price target for the company. William Blair cut CVRx from an outperform rating to a market perform rating in a research report on Wednesday. Finally, Piper Sandler reduced their price target on CVRx from $33.00 to $15.00 and set an overweight rating for the company in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $16.60.

CVRx Trading Down 34.8 %

Shares of NASDAQ:CVRX opened at $10.12 on Wednesday. CVRx has a 52-week low of $7.77 and a 52-week high of $33.13. The stock has a market cap of $218.54 million, a price-to-earnings ratio of -5.11 and a beta of 1.29. The company has a quick ratio of 12.86, a current ratio of 14.25 and a debt-to-equity ratio of 0.38. The business has a 50-day moving average price of $18.62 and a 200-day moving average price of $21.07.

Insider Activity at CVRx

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

Institutional Trading of CVRx

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Level Four Advisory Services LLC boosted its stake in shares of CVRx by 6.8% in the fourth quarter. Level Four Advisory Services LLC now owns 28,885 shares of the company’s stock worth $908,000 after acquiring an additional 1,844 shares during the last quarter. Federated Hermes Inc. acquired a new stake in shares of CVRx in the fourth quarter worth approximately $102,000. Emerald Advisers LLC boosted its stake in shares of CVRx by 1.3% in the third quarter. Emerald Advisers LLC now owns 501,073 shares of the company’s stock worth $7,601,000 after acquiring an additional 6,419 shares during the last quarter. Trexquant Investment LP acquired a new stake in shares of CVRx in the fourth quarter worth approximately $426,000. Finally, Jump Financial LLC acquired a new stake in shares of CVRx in the fourth quarter worth approximately $499,000. 75.27% of the stock is currently owned by hedge funds and other institutional investors.

About CVRx

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.