PDT Partners LLC Acquires New Position in CVRx, Inc. (NASDAQ:CVRX)

PDT Partners LLC purchased a new stake in shares of CVRx, Inc. (NASDAQ:CVRX - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 61,657 shares of the company's stock, valued at approximately $543,000. PDT Partners LLC owned about 0.25% of CVRx at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. SG Americas Securities LLC bought a new stake in shares of CVRx during the 3rd quarter worth approximately $108,000. Rhumbline Advisers lifted its position 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 during the last quarter. Dimensional Fund Advisors LP purchased a new stake in shares of CVRx during the second quarter valued at $218,000. Bank of New York Mellon Corp increased its stake in CVRx by 30.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 37,191 shares of the company's stock worth $446,000 after buying an additional 8,741 shares during the period. Finally, International Assets Investment Management LLC bought a new stake in CVRx during the 3rd quarter valued at about $338,000. Institutional investors own 75.27% of the company's stock.

CVRx Price Performance

CVRX traded down $0.49 during trading on Tuesday, hitting $15.03. The stock had a trading volume of 177,025 shares, compared to its average volume of 275,632. CVRx, Inc. has a twelve month low of $6.40 and a twelve month high of $33.13. The stock has a 50 day simple moving average of $11.70 and a two-hundred day simple moving average of $10.07. The company has a debt-to-equity ratio of 0.76, a current ratio of 11.32 and a quick ratio of 10.23.

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

Analyst Ratings Changes

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

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.