Canaccord Genuity Group Has Lowered Expectations for CVRx (NASDAQ:CVRX) Stock Price

CVRx (NASDAQ:CVRX - Get Free Report) had its price target decreased by analysts at Canaccord Genuity Group from $23.00 to $18.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Canaccord Genuity Group's price objective would suggest a potential upside of 188.92% from the stock's previous close.

A number of other research analysts have also commented on CVRX. Craig Hallum upped their price target on shares of CVRx from $20.00 to $22.00 and gave the company a "buy" rating in a research note on Friday, January 17th. William Blair upgraded CVRx from a "market perform" rating to an "outperform" rating in a research report on Tuesday, January 14th. Finally, Piper Sandler increased their price target on shares of CVRx from $16.00 to $20.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $16.83.

CVRx Stock Down 3.9 %

Shares of NASDAQ:CVRX traded down $0.25 during midday trading on Tuesday, reaching $6.23. The company had a trading volume of 441,973 shares, compared to its average volume of 313,751. The company has a quick ratio of 10.23, a current ratio of 12.06 and a debt-to-equity ratio of 0.69. The business's 50 day moving average price is $12.20 and its 200 day moving average price is $12.86. The stock has a market cap of $162.20 million, a PE ratio of -2.32 and a beta of 1.34. CVRx has a 1-year low of $5.87 and a 1-year high of $18.55.

CVRx (NASDAQ:CVRX - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The company reported ($0.43) EPS for the quarter, missing analysts' consensus estimates of ($0.37) by ($0.06). CVRx had a negative net margin of 116.91% and a negative return on equity of 93.06%. Research analysts forecast that CVRx will post -1.91 EPS for the current fiscal year.

Institutional Trading of CVRx

A number of hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC grew its position in shares of CVRx by 43.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,900 shares of the company's stock valued at $49,000 after buying an additional 1,186 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of CVRx by 1,469.3% in the 1st quarter. GAMMA Investing LLC now owns 4,598 shares of the company's stock worth $56,000 after purchasing an additional 4,305 shares in the last quarter. Quarry LP acquired a new position in shares of CVRx during the fourth quarter valued at about $69,000. MetLife Investment Management LLC acquired a new position in CVRx during the 4th quarter valued at about $111,000. Finally, Wells Fargo & Company MN boosted its position in shares of CVRx by 86.1% during the fourth quarter. Wells Fargo & Company MN now owns 8,894 shares of the company's stock valued at $113,000 after buying an additional 4,115 shares during the last quarter. 75.27% of the stock is owned by institutional investors and hedge funds.

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.