Piper Sandler Cuts CVRx (NASDAQ:CVRX) Price Target to $15.00

CVRx (NASDAQ:CVRX) had its target price trimmed by Piper Sandler from $33.00 to $15.00 in a research note published on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research firms also recently commented on CVRX. JPMorgan Chase & Co. downgraded shares of CVRx from an overweight rating to a neutral rating and lowered their target price for the stock from $36.00 to $13.00 in a report 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 assumed coverage on shares of CVRx in a report on Wednesday. They set a buy rating and a $23.00 price objective for the company. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $16.60.

CVRx Stock Up 8.7 %

Shares of 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 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 PE ratio of -3.76 and a beta of 1.35. The business’s 50 day moving average is $18.11 and its 200 day moving average is $20.90.

Insider Activity at CVRx

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

Institutional Investors Weigh In On CVRx

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Valeo Financial Advisors LLC bought a new position in CVRx in the 1st quarter worth about $346,000. Parkman Healthcare Partners LLC boosted its holdings in shares of CVRx by 8.0% in the fourth quarter. Parkman Healthcare Partners LLC now owns 240,000 shares of the company’s stock valued at $7,546,000 after purchasing an additional 17,880 shares during the period. Trexquant Investment LP bought a new position in CVRx in the fourth quarter worth approximately $426,000. Level Four Advisory Services LLC increased its holdings in CVRx by 6.8% during the 4th quarter. Level Four Advisory Services LLC now owns 28,885 shares of the company’s stock worth $908,000 after purchasing an additional 1,844 shares during the period. Finally, Jump Financial LLC bought a new stake in CVRx during the 4th quarter valued at $499,000. 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.