CVRx, Inc. (NASDAQ:CVRX) Director Joseph P. Slattery Acquires 2,500 Shares

CVRx, Inc. (NASDAQ:CVRX) Director Joseph P. Slattery acquired 2,500 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was bought at an average cost of $9.09 per share, with a total value of $22,725.00. Following the acquisition, the director now owns 24,645 shares in the company, valued at approximately $224,023.05. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website.

CVRx Stock Performance

Shares of NASDAQ:CVRX traded up $0.59 on Tuesday, reaching $9.05. 516,580 shares of the company’s stock were exchanged, compared to its average volume of 260,303. CVRx, Inc. has a twelve month low of $6.40 and a twelve month high of $33.13. The company has a fifty day moving average of $9.70 and a 200-day moving average of $15.10. The company has a market capitalization of $195.44 million, a price-to-earnings ratio of -3.71 and a beta of 1.25. The company has a current ratio of 12.18, a quick ratio of 10.87 and a debt-to-equity ratio of 0.44.

CVRx (NASDAQ:CVRX) last announced its quarterly earnings data on Monday, July 29th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.14). The firm had revenue of $11.81 million during the quarter, compared to the consensus estimate of $11.84 million. CVRx had a negative net margin of 122.52% and a negative return on equity of 72.51%. During the same period last year, the business earned ($0.56) earnings per share. On average, research analysts predict that CVRx, Inc. will post -2.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CVRX shares. Canaccord Genuity Group upped their price target on shares of CVRx from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Piper Sandler cut their target price on shares of CVRx from $15.00 to $13.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. Craig Hallum lowered their price target on CVRx from $23.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. JPMorgan Chase & Co. cut CVRx from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $36.00 to $13.00 in a research report on Wednesday, May 1st. Finally, William Blair downgraded CVRx from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $13.60.

Institutional Trading of CVRx

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Federated Hermes Inc. acquired a new stake in shares of CVRx during the 4th quarter valued at $102,000. Jump Financial LLC acquired a new stake in shares of CVRx during the fourth quarter valued at about $499,000. Level Four Advisory Services LLC grew its holdings in shares of CVRx by 6.8% during the fourth quarter. Level Four Advisory Services LLC now owns 28,885 shares of the company’s stock worth $908,000 after purchasing an additional 1,844 shares during the last quarter. Trexquant Investment LP acquired a new position in shares of CVRx in the fourth quarter valued at approximately $426,000. Finally, Parkman Healthcare Partners LLC increased its stake in shares of CVRx by 8.0% in the fourth quarter. Parkman Healthcare Partners LLC now owns 240,000 shares of the company’s stock valued at $7,546,000 after buying an additional 17,880 shares during the period. Institutional investors own 75.27% of the company’s stock.

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.