Archon Capital Management LLC Trims Stake in CVRx, Inc. (NASDAQ:CVRX)

Archon Capital Management LLC reduced its stake in CVRx, Inc. (NASDAQ:CVRX - Free Report) by 16.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 251,666 shares of the company's stock after selling 49,954 shares during the period. CVRx comprises 3.1% of Archon Capital Management LLC's investment portfolio, making the stock its 8th largest position. Archon Capital Management LLC owned 1.04% of CVRx worth $3,189,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its stake in CVRx by 10,520.1% in the fourth quarter. JPMorgan Chase & Co. now owns 628,286 shares of the company's stock worth $7,960,000 after acquiring an additional 622,370 shares during the period. Emerald Advisers LLC raised its stake in CVRx by 47.3% in the fourth quarter. Emerald Advisers LLC now owns 593,898 shares of the company's stock worth $7,525,000 after buying an additional 190,844 shares in the last quarter. Norges Bank purchased a new stake in CVRx in the fourth quarter worth about $1,411,000. Trexquant Investment LP grew its holdings in shares of CVRx by 292.9% during the 4th quarter. Trexquant Investment LP now owns 102,197 shares of the company's stock worth $1,295,000 after acquiring an additional 76,184 shares during the period. Finally, Tradewinds LLC. purchased a new position in shares of CVRx in the 4th quarter valued at approximately $695,000. Hedge funds and other institutional investors own 75.27% of the company's stock.

CVRx Stock Performance

CVRX stock traded up $0.05 on Thursday, hitting $6.20. The company had a trading volume of 111,179 shares, compared to its average volume of 317,623. The stock has a market cap of $161.29 million, a price-to-earnings ratio of -2.30 and a beta of 1.34. The company has a current ratio of 12.06, a quick ratio of 10.23 and a debt-to-equity ratio of 0.69. The stock's 50-day simple moving average is $11.69 and its 200 day simple moving average is $12.78. CVRx, Inc. has a 12-month low of $5.86 and a 12-month high of $18.55.

CVRx (NASDAQ:CVRX - Get Free Report) last posted its earnings results on Tuesday, February 4th. The company reported ($0.43) earnings per share 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%. As a group, equities research analysts expect that CVRx, Inc. will post -1.91 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Lake Street Capital dropped their target price on shares of CVRx from $19.00 to $14.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Canaccord Genuity Group dropped their target price on CVRx from $23.00 to $18.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Craig Hallum lifted their price target on CVRx from $20.00 to $22.00 and gave the stock a "buy" rating in a research report on Friday, January 17th. Piper Sandler upped their target price on shares of CVRx from $16.00 to $20.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 5th. Finally, William Blair raised shares of CVRx from a "market perform" rating to an "outperform" rating in a research report on Tuesday, January 14th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, CVRx has a consensus rating of "Moderate Buy" and an average price target of $16.83.

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.