CVRx, Inc. (NASDAQ:CVRX) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Shares of CVRx, Inc. (NASDAQ:CVRX - Get Free Report) have earned an average rating of "Moderate Buy" from the seven ratings firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $16.83.

A number of analysts have recently commented on CVRX shares. William Blair raised CVRx from a "market perform" rating to an "outperform" rating in a research note on Tuesday, January 14th. Canaccord Genuity Group cut their price objective on shares of CVRx from $23.00 to $18.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Craig Hallum boosted their price target on CVRx from $20.00 to $22.00 and gave the company a "buy" rating in a research note on Friday, January 17th. Piper Sandler boosted their price target on CVRx from $16.00 to $20.00 and gave the stock an "overweight" rating in a report on Wednesday, February 5th. Finally, Lake Street Capital cut their target price on shares of CVRx from $19.00 to $14.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th.

CVRx Stock Performance

NASDAQ CVRX traded up $0.10 during trading hours on Wednesday, reaching $6.25. The company's stock had a trading volume of 241,648 shares, compared to its average volume of 317,265. The company has a current ratio of 12.06, a quick ratio of 10.23 and a debt-to-equity ratio of 0.69. CVRx has a 52 week low of $5.87 and a 52 week high of $18.55. The business has a 50-day simple moving average of $11.52 and a 200 day simple moving average of $12.76. The stock has a market cap of $162.73 million, a PE ratio of -2.32 and a beta of 1.34.

CVRx (NASDAQ:CVRX - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The company reported ($0.43) earnings per share (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%. Equities research analysts predict that CVRx will post -1.91 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CVRx

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

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.