CVRx (NASDAQ:CVRX) PT Lowered to $18.00 at Lake Street Capital

CVRx (NASDAQ:CVRX) had its target price cut by Lake Street Capital from $35.00 to $18.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also recently issued research reports about the stock. Piper Sandler dropped their target price on shares of CVRx from $33.00 to $15.00 and set an overweight rating on the stock in a report on Wednesday. Canaccord Genuity Group dropped their price target on shares of CVRx from $32.00 to $14.00 and set a buy rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. cut shares of CVRx from an overweight rating to a neutral rating and dropped their price target for the stock from $36.00 to $13.00 in a research note on Wednesday. William Blair cut shares of CVRx from an outperform rating to a market perform rating in a research note on Wednesday. Finally, Craig Hallum started coverage on shares of CVRx in a research note on Wednesday. They issued a buy rating and a $23.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, CVRx currently has an average rating of Moderate Buy and a consensus price target of $16.60.

CVRx Stock Performance

Shares of CVRX stock opened at $10.12 on Wednesday. CVRx has a 12 month low of $7.77 and a 12 month high of $33.13. The stock has a market cap of $218.54 million, a PE ratio of -5.11 and a beta of 1.29. The company has a current ratio of 14.25, a quick ratio of 12.86 and a debt-to-equity ratio of 0.38. The company’s fifty day moving average price is $18.62 and its 200-day moving average price is $21.07.

Insiders Place Their Bets

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

Institutional Investors Weigh In On CVRx

Hedge funds and other institutional investors have recently made changes to their positions in the business. Federated Hermes Inc. purchased a new stake in shares of CVRx during the 4th quarter valued at about $102,000. Trexquant Investment LP purchased a new stake in shares of CVRx during the 4th quarter valued at about $426,000. Jump Financial LLC purchased a new stake in shares of CVRx during the 4th quarter valued at about $499,000. Valeo Financial Advisors LLC purchased a new stake in shares of CVRx during the 1st quarter valued at about $346,000. Finally, Level Four Advisory Services LLC increased its position in shares of CVRx by 6.8% during the 4th quarter. Level Four Advisory Services LLC now owns 28,885 shares of the company’s stock valued at $908,000 after purchasing an additional 1,844 shares during the last quarter. Hedge funds and other institutional investors own 75.27% of the company’s stock.

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.