Lake Street Capital Has Lowered Expectations for CVRx (NASDAQ:CVRX) Stock Price

CVRx (NASDAQ:CVRX - Get Free Report) had its price target dropped by research analysts at Lake Street Capital from $19.00 to $14.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Lake Street Capital's price objective would indicate a potential upside of 124.72% from the company's previous close.

Other equities research analysts have also issued research reports about the stock. Piper Sandler boosted their price target on shares of CVRx from $16.00 to $20.00 and gave the company an "overweight" rating in a report on Wednesday, February 5th. Canaccord Genuity Group dropped their price target on CVRx from $23.00 to $18.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. William Blair upgraded CVRx from a "market perform" rating to an "outperform" rating in a research report on Tuesday, January 14th. Finally, Craig Hallum raised their price target on shares of CVRx from $20.00 to $22.00 and gave the stock a "buy" rating in a report on Friday, January 17th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, CVRx presently has an average rating of "Moderate Buy" and a consensus target price of $16.83.

CVRx Price Performance

CVRx stock traded down $0.25 during midday trading on Tuesday, hitting $6.23. The company's stock had a trading volume of 441,973 shares, compared to its average volume of 313,751. CVRx has a 12 month low of $5.87 and a 12 month high of $18.55. 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 company has a market capitalization of $162.20 million, a PE ratio of -2.32 and a beta of 1.34. The stock's 50-day moving average price is $12.20 and its 200-day moving average price is $12.86.

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

Hedge Funds Weigh In On CVRx

Several institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC raised its holdings in 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 acquiring an additional 1,186 shares during the period. GAMMA Investing LLC raised its stake in shares of CVRx by 1,469.3% in the first quarter. GAMMA Investing LLC now owns 4,598 shares of the company's stock valued at $56,000 after purchasing an additional 4,305 shares in the last quarter. Quarry LP bought a new position in shares of CVRx during the 4th quarter worth about $69,000. MetLife Investment Management LLC bought a new stake in shares of CVRx in the 4th quarter valued at approximately $111,000. Finally, Wells Fargo & Company MN raised its stake in CVRx by 86.1% during the fourth quarter. Wells Fargo & Company MN now owns 8,894 shares of the company's stock worth $113,000 after acquiring an additional 4,115 shares in the last quarter. 75.27% of the stock is currently owned by 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.