CVRx, Inc. (NASDAQ:CVRX) Sees Large Decline in Short Interest

CVRx, Inc. (NASDAQ:CVRX - Get Free Report) saw a large decrease in short interest in January. As of January 31st, there was short interest totalling 1,840,000 shares, a decrease of 9.8% from the January 15th total of 2,040,000 shares. Based on an average daily volume of 226,600 shares, the short-interest ratio is currently 8.1 days. Approximately 13.2% of the company's shares are short sold.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Canaccord Genuity Group upped their price objective on shares of CVRx from $22.00 to $23.00 and gave the company a "buy" rating in a research note on Wednesday, February 5th. William Blair raised shares of CVRx from a "market perform" rating to an "outperform" rating in a research note on Tuesday, January 14th. Lake Street Capital upped their price objective on shares of CVRx from $12.00 to $15.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Piper Sandler upped their price objective on shares of CVRx from $16.00 to $20.00 and gave the company an "overweight" rating in a research note on Wednesday, February 5th. Finally, Craig Hallum upped their price objective 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. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $17.83.

CVRx Trading Down 1.1 %

CVRX traded down $0.16 during trading on Friday, hitting $13.85. 211,195 shares of the stock traded hands, compared to its average volume of 248,450. The firm has a market capitalization of $360.65 million, a P/E ratio of -5.15 and a beta of 1.30. The company has a debt-to-equity ratio of 0.69, a current ratio of 12.06 and a quick ratio of 10.23. The firm has a 50-day moving average of $14.82 and a 200 day moving average of $12.18. CVRx has a 12-month low of $6.40 and a 12-month high of $22.86.

CVRx (NASDAQ:CVRX - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The company reported ($0.43) earnings per share for the quarter, missing the consensus estimate 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 anticipate that CVRx will post -1.91 EPS for the current year.

Institutional Investors Weigh In On CVRx

Institutional investors and hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC lifted 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 worth $49,000 after purchasing an additional 1,186 shares during the period. Quarry LP purchased a new stake in shares of CVRx in the 4th quarter worth about $69,000. MetLife Investment Management LLC purchased a new stake in shares of CVRx in the 4th quarter worth about $111,000. Wells Fargo & Company MN lifted its position in shares of 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 purchasing an additional 4,115 shares during the period. Finally, Boothbay Fund Management LLC purchased a new stake in shares of CVRx in the 4th quarter worth about $127,000. 75.27% of the stock is owned by hedge funds and other institutional investors.

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.