CVRx (NASDAQ:CVRX) Downgraded by JPMorgan Chase & Co. to “Neutral”

JPMorgan Chase & Co. lowered shares of CVRx (NASDAQ:CVRX) from an overweight rating to a neutral rating in a research note published on Wednesday morning, Marketbeat reports. They currently have $13.00 price objective on the stock, down from their prior price objective of $36.00.

CVRX has been the subject of several other reports. Piper Sandler lifted their price objective on shares of CVRx from $21.00 to $33.00 and gave the stock an overweight rating in a research note on Friday, January 26th. William Blair cut shares of CVRx from an outperform rating to a market perform rating in a report on Wednesday. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $16.60.

CVRx Trading Up 8.7 %

NASDAQ:CVRX opened at $9.22 on Wednesday. CVRx has a 12 month low of $7.77 and a 12 month high of $33.13. The firm has a fifty day simple moving average of $18.11 and a 200-day simple moving average of $20.90. 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 has a market capitalization of $199.06 million, a P/E ratio of -3.76 and a beta of 1.35.

Insider Buying and Selling at CVRx

In other CVRx news, major shareholder & Johnson Johnson sold 3,725 shares of CVRx stock in a transaction on Friday, February 16th. The shares were 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 owns 4,099,575 shares of the company’s stock, valued at $105,810,030.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Paul Verrastro sold 2,545 shares of CVRx stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $21.91, for a total value of $55,760.95. Following the sale, the insider now owns 2,455 shares in the company, valued at $53,789.05. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder & Johnson Johnson sold 3,725 shares of CVRx stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $25.81, for a total transaction of $96,142.25. Following the completion of the sale, the insider now owns 4,099,575 shares in the company, valued at approximately $105,810,030.75. The disclosure for this sale can be found here. 18.30% of the stock is owned by corporate insiders.

Institutional Trading of CVRx

Several institutional investors have recently modified their holdings of CVRX. Emerald Advisers LLC grew its position in shares of CVRx by 1.3% in the third quarter. Emerald Advisers LLC now owns 501,073 shares of the company’s stock valued at $7,601,000 after purchasing an additional 6,419 shares during the period. Emerald Mutual Fund Advisers Trust grew its position in shares of CVRx by 4.1% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 430,844 shares of the company’s stock valued at $6,536,000 after purchasing an additional 16,808 shares during the period. GSG Advisors LLC acquired a new stake in shares of CVRx in the third quarter valued at about $2,435,000. Lord Abbett & CO. LLC acquired a new stake in shares of CVRx in the third quarter valued at about $7,116,000. Finally, Kestra Advisory Services LLC acquired a new stake in shares of CVRx in the third quarter valued at about $462,000. Institutional investors and hedge funds own 75.27% of the company’s stock.

CVRx Company Profile

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.