Schonfeld Strategic Advisors LLC Sells 265,990 Shares of CVRx, Inc. (NASDAQ:CVRX)

Schonfeld Strategic Advisors LLC lowered its holdings in CVRx, Inc. (NASDAQ:CVRX) by 48.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 279,310 shares of the company’s stock after selling 265,990 shares during the quarter. Schonfeld Strategic Advisors LLC owned 1.15% of CVRx worth $3,539,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC boosted its holdings in CVRx by 43.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,900 shares of the company’s stock valued at $49,000 after purchasing an additional 1,186 shares in the last quarter. Quarry LP acquired a new stake in CVRx in the 4th quarter valued at $69,000. MetLife Investment Management LLC bought a new stake in CVRx in the fourth quarter valued at $111,000. Wells Fargo & Company MN raised its stake in CVRx by 86.1% during the fourth quarter. Wells Fargo & Company MN now owns 8,894 shares of the company’s stock worth $113,000 after acquiring an additional 4,115 shares in the last quarter. Finally, Boothbay Fund Management LLC bought a new position in shares of CVRx during the fourth quarter valued at $127,000. Institutional investors and hedge funds own 75.27% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CVRX shares. Piper Sandler increased their target price on shares of CVRx from $16.00 to $20.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Craig Hallum raised their price objective on shares of CVRx from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Canaccord Genuity Group reduced 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 dropped their price target on CVRx from $19.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Finally, William Blair raised CVRx from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 14th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, CVRx has an average rating of “Buy” and an average price target of $17.60.

CVRx Price Performance

CVRX opened at $7.95 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 12.06 and a quick ratio of 10.23. The company’s 50 day simple moving average is $9.87 and its 200-day simple moving average is $12.69. CVRx, Inc. has a one year low of $5.81 and a one year high of $18.55. The stock has a market capitalization of $207.15 million, a P/E ratio of -2.96 and a beta of 1.34.

CVRx (NASDAQ:CVRX) last released its earnings results on Tuesday, February 4th. The company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.06). CVRx had a negative net margin of 116.91% and a negative return on equity of 93.06%. Sell-side analysts anticipate that CVRx, Inc. will post -1.91 earnings per share for the current fiscal year.

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.