Norges Bank Makes New Investment in CVRx, Inc. (NASDAQ:CVRX)

Norges Bank bought a new stake in CVRx, Inc. (NASDAQ:CVRX - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 111,400 shares of the company's stock, valued at approximately $1,411,000. Norges Bank owned approximately 0.46% of CVRx as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Centiva Capital LP acquired a new stake in shares of CVRx in the third quarter valued at approximately $178,000. State Street Corp increased its stake in CVRx by 11.4% in the 3rd quarter. State Street Corp now owns 264,733 shares of the company's stock valued at $2,332,000 after buying an additional 27,071 shares during the last quarter. Jane Street Group LLC lifted its position in CVRx by 36.1% during the 3rd quarter. Jane Street Group LLC now owns 19,038 shares of the company's stock worth $168,000 after buying an additional 5,053 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of CVRx during the 3rd quarter worth about $150,000. Finally, Barclays PLC boosted its stake in shares of CVRx by 312.5% during the 3rd quarter. Barclays PLC now owns 19,067 shares of the company's stock worth $169,000 after buying an additional 14,445 shares during the last quarter. Institutional investors and hedge funds own 75.27% of the company's stock.

CVRx Stock Performance

Shares of NASDAQ CVRX traded up $0.01 during mid-day trading on Thursday, reaching $6.16. 59,487 shares of the company were exchanged, compared to its average volume of 315,666. The stock has a market capitalization of $160.25 million, a P/E ratio of -2.29 and a beta of 1.34. 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's 50-day simple moving average is $11.69 and its 200-day simple moving average is $12.78. CVRx, Inc. has a twelve month low of $5.87 and a twelve month high of $18.55.

CVRx (NASDAQ:CVRX - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.06). CVRx had a negative return on equity of 93.06% and a negative net margin of 116.91%. As a group, research analysts predict that CVRx, Inc. will post -1.91 earnings per share for the current year.

Analysts Set New Price Targets

CVRX has been the topic of several analyst reports. 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. Lake Street Capital cut their price objective on CVRx from $19.00 to $14.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Craig Hallum raised their target price 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. William Blair raised shares of CVRx from a "market perform" rating to an "outperform" rating in a research report on Tuesday, January 14th. Finally, Piper Sandler lifted their price objective on shares of CVRx from $16.00 to $20.00 and gave the company an "overweight" rating in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.