Paul Verrastro Sells 1,430 Shares of CVRx, Inc. (NASDAQ:CVRX) Stock

CVRx, Inc. (NASDAQ:CVRX - Get Free Report) insider Paul Verrastro sold 1,430 shares of CVRx stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $13.58, for a total transaction of $19,419.40. Following the sale, the insider now directly owns 1,875 shares in the company, valued at approximately $25,462.50. The trade was a 43.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

CVRx Stock Up 8.5 %

Shares of CVRx stock traded up $1.16 during trading hours on Thursday, reaching $14.68. 254,807 shares of the company were exchanged, compared to its average volume of 277,507. CVRx, Inc. has a 1 year low of $6.40 and a 1 year high of $33.13. The stock's fifty day moving average is $10.76 and its 200 day moving average is $9.67. The company has a debt-to-equity ratio of 0.76, a quick ratio of 10.23 and a current ratio of 11.32. The firm has a market cap of $356.02 million, a PE ratio of -5.44 and a beta of 1.16.

CVRx (NASDAQ:CVRX - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported ($0.57) earnings per share for the quarter, missing analysts' consensus estimates of ($0.45) by ($0.12). CVRx had a negative return on equity of 89.06% and a negative net margin of 123.75%. The company had revenue of $13.37 million for the quarter, compared to analysts' expectations of $13.28 million. During the same period in the prior year, the company posted ($0.43) EPS. As a group, equities research analysts forecast that CVRx, Inc. will post -2.62 earnings per share for the current year.

Analysts Set New Price Targets

CVRX has been the topic of several analyst reports. Craig Hallum lifted their price target on shares of CVRx from $15.00 to $20.00 and gave the company a "buy" rating in a research report on Monday, November 4th. Cantor Fitzgerald reissued an "overweight" rating and issued a $14.00 target price on shares of CVRx in a research report on Wednesday, October 23rd. Lake Street Capital boosted their target price on CVRx from $12.00 to $15.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Piper Sandler reissued an "overweight" rating and issued a $16.00 target price (up previously from $13.00) on shares of CVRx in a research report on Wednesday, October 30th. Finally, Canaccord Genuity Group boosted their target price on CVRx from $15.00 to $17.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, CVRx currently has an average rating of "Moderate Buy" and an average target price of $15.83.

Hedge Funds Weigh In On CVRx

A number of institutional investors and hedge funds have recently modified their holdings of CVRX. Vanguard Group Inc. grew its stake in shares of CVRx by 5.6% during the first quarter. Vanguard Group Inc. now owns 594,312 shares of the company's stock worth $10,822,000 after purchasing an additional 31,720 shares in the last quarter. Silvercrest Asset Management Group LLC grew its stake in shares of CVRx by 70.7% during the first quarter. Silvercrest Asset Management Group LLC now owns 253,968 shares of the company's stock worth $4,625,000 after purchasing an additional 105,198 shares in the last quarter. FourWorld Capital Management LLC acquired a new position in shares of CVRx during the first quarter worth $374,000. Bank of New York Mellon Corp grew its stake in shares of CVRx by 30.7% during the second quarter. Bank of New York Mellon Corp now owns 37,191 shares of the company's stock worth $446,000 after purchasing an additional 8,741 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in shares of CVRx by 28.8% during the second quarter. Rhumbline Advisers now owns 17,260 shares of the company's stock worth $207,000 after purchasing an additional 3,863 shares in the last quarter. Institutional investors and hedge funds own 75.27% of the company's stock.

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.

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