CVRx, Inc. (NASDAQ:CVRX) Short Interest Update

CVRx, Inc. (NASDAQ:CVRX) was the target of a significant growth in short interest in the month of May. As of May 31st, there was short interest totalling 1,110,000 shares, a growth of 26.5% from the May 15th total of 877,200 shares. Approximately 10.2% of the shares of the company are sold short. Based on an average trading volume of 251,000 shares, the short-interest ratio is currently 4.4 days.

Analysts Set New Price Targets

Several research analysts have weighed in on CVRX shares. Piper Sandler decreased their price target on shares of CVRx from $33.00 to $15.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Lake Street Capital decreased their price target on shares of CVRx from $35.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. William Blair cut shares of CVRx from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. cut shares of CVRx from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $36.00 to $13.00 in a research note on Wednesday, May 1st. Finally, Craig Hallum assumed coverage on shares of CVRx in a research note on Wednesday, May 1st. They issued a “buy” rating and a $23.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $16.60.

CVRx Price Performance

Shares of NASDAQ CVRX traded up $0.76 during midday trading on Monday, reaching $10.96. The stock had a trading volume of 504,408 shares, compared to its average volume of 220,335. The company has a market capitalization of $236.74 million, a price-to-earnings ratio of -4.44 and a beta of 1.08. The stock has a 50-day moving average of $10.76 and a 200-day moving average of $19.16. CVRx has a 12-month low of $6.40 and a 12-month high of $33.13. The company has a debt-to-equity ratio of 0.44, a quick ratio of 10.87 and a current ratio of 12.18.

CVRx (NASDAQ:CVRX) last posted its earnings results on Tuesday, April 30th. The company reported ($1.04) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.51). The company had revenue of $10.77 million for the quarter, compared to analysts’ expectations of $11.60 million. CVRx had a negative net margin of 123.58% and a negative return on equity of 66.05%. As a group, research analysts anticipate that CVRx will post -2.39 EPS for the current fiscal year.

Hedge Funds Weigh In On CVRx

Several institutional investors have recently bought and sold shares of the stock. Johnson & Johnson lifted its position in CVRx by 17.4% during the first quarter. Johnson & Johnson now owns 4,103,430 shares of the company’s stock valued at $74,723,000 after purchasing an additional 607,855 shares during the last quarter. Silvercrest Asset Management Group LLC lifted its position in CVRx by 70.7% during the first quarter. Silvercrest Asset Management Group LLC now owns 253,968 shares of the company’s stock valued at $4,625,000 after purchasing an additional 105,198 shares during the last quarter. Vanguard Group Inc. lifted its position in CVRx by 5.6% during the first quarter. Vanguard Group Inc. now owns 594,312 shares of the company’s stock valued at $10,822,000 after purchasing an additional 31,720 shares during the last quarter. Kestra Advisory Services LLC bought a new position in CVRx during the third quarter valued at $462,000. Finally, FourWorld Capital Management LLC bought a new position in CVRx during the first quarter valued at $374,000. 75.27% of the stock is owned by hedge funds and other 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.