Brokerages Set CVRx, Inc. (NASDAQ:CVRX) PT at $13.60

Shares of CVRx, Inc. (NASDAQ:CVRX - Get Free Report) have received a consensus rating of "Moderate Buy" from the six brokerages that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $13.60.

Several equities research analysts have recently commented on the stock. Piper Sandler reduced their price target on shares of CVRx from $15.00 to $13.00 and set an "overweight" rating for the company in a research report on Tuesday, July 30th. Canaccord Genuity Group increased their target price on CVRx from $14.00 to $15.00 and gave the stock a "buy" rating in a research report on Tuesday, July 30th. Craig Hallum reduced their price target on shares of CVRx from $23.00 to $15.00 and set a "buy" rating on the stock in a report on Thursday, July 11th. Finally, Lake Street Capital restated a "buy" rating and set a $12.00 price objective on shares of CVRx in a research report on Monday, August 26th.

Insiders Place Their Bets

In other CVRx news, CEO Kevin Hykes bought 30,000 shares of the firm's stock in a transaction dated Monday, August 5th. The shares were purchased at an average cost of $8.36 per share, for a total transaction of $250,800.00. Following the transaction, the chief executive officer now owns 30,000 shares of the company's stock, valued at $250,800. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders acquired 38,500 shares of company stock valued at $322,545 in the last three months. Corporate insiders own 18.90% of the company's stock.

Hedge Funds Weigh In On CVRx

Large investors have recently modified their holdings of the stock. Squarepoint Ops LLC lifted its position in CVRx by 26.3% in the second quarter. Squarepoint Ops LLC now owns 91,999 shares of the company's stock worth $1,103,000 after buying an additional 19,165 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of CVRx in the 2nd quarter worth about $495,000. Dimensional Fund Advisors LP purchased a new position in shares of CVRx during the 2nd quarter worth about $218,000. Rhumbline Advisers grew its holdings in CVRx by 28.8% during the 2nd quarter. Rhumbline Advisers now owns 17,260 shares of the company's stock valued at $207,000 after purchasing an additional 3,863 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in CVRx by 30.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 37,191 shares of the company's stock valued at $446,000 after purchasing an additional 8,741 shares during the last quarter. Institutional investors own 75.27% of the company's stock.

CVRx Stock Down 8.2 %

CVRX stock traded down $0.81 during midday trading on Tuesday, hitting $9.05. The company's stock had a trading volume of 224,110 shares, compared to its average volume of 266,130. The firm's 50-day moving average is $9.57 and its 200-day moving average is $12.78. The company has a current ratio of 10.08, a quick ratio of 8.85 and a debt-to-equity ratio of 0.53. CVRx has a 12 month low of $6.40 and a 12 month high of $33.13. The company has a market cap of $195.44 million, a PE ratio of -3.68 and a beta of 1.25.

CVRx (NASDAQ:CVRX - Get Free Report) last released its quarterly earnings results on Monday, July 29th. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.14). CVRx had a negative net margin of 122.52% and a negative return on equity of 77.62%. The firm had revenue of $11.81 million for the quarter, compared to the consensus estimate of $11.84 million. During the same period in the previous year, the company earned ($0.56) earnings per share. On average, equities research analysts forecast that CVRx will post -2.57 earnings per share for the current fiscal year.

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.