CVRx’s (CVRX) Buy Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group reiterated their buy rating on shares of CVRx (NASDAQ:CVRX) in a report released on Tuesday morning,Benzinga reports. They currently have a $10.00 target price on the stock.

CVRX has been the subject of a number of other research reports. Cantor Fitzgerald upgraded shares of CVRx to a “strong-buy” rating in a report on Tuesday, February 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of CVRx in a report on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $10.50.

CVRx Trading Down 1.6%

Shares of CVRX stock opened at $7.36 on Tuesday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 6.72 and a current ratio of 7.63. The stock has a market capitalization of $193.64 million, a P/E ratio of -3.59 and a beta of 1.16. The company has a 50 day moving average price of $7.64 and a 200 day moving average price of $8.18. CVRx has a fifty-two week low of $4.30 and a fifty-two week high of $11.30.

CVRx (NASDAQ:CVRX) last announced its quarterly earnings data on Thursday, February 12th. The company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.04). The business had revenue of $16.02 million during the quarter, compared to analyst estimates of $15.75 million. CVRx had a negative net margin of 94.10% and a negative return on equity of 99.32%. Equities research analysts predict that CVRx will post -1.91 EPS for the current fiscal year.

Insider Activity

In other CVRx news, Director Mudit K. Jain acquired 46,800 shares of the stock in a transaction dated Friday, February 20th. The stock was acquired at an average cost of $6.36 per share, with a total value of $297,648.00. Following the transaction, the director owned 980,183 shares in the company, valued at $6,233,963.88. The trade was a 5.01% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 13.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. FourWorld Capital Management LLC boosted its position in shares of CVRx by 24.1% during the 4th quarter. FourWorld Capital Management LLC now owns 180,000 shares of the company’s stock worth $1,278,000 after acquiring an additional 35,000 shares in the last quarter. UBS Group AG boosted its position in shares of CVRx by 71.7% during the 3rd quarter. UBS Group AG now owns 151,323 shares of the company’s stock worth $1,221,000 after acquiring an additional 63,179 shares in the last quarter. Tudor Investment Corp ET AL boosted its position in shares of CVRx by 24.8% during the 4th quarter. Tudor Investment Corp ET AL now owns 157,260 shares of the company’s stock worth $1,117,000 after acquiring an additional 31,200 shares in the last quarter. Bank of America Corp DE boosted its position in shares of CVRx by 7.6% during the 2nd quarter. Bank of America Corp DE now owns 89,049 shares of the company’s stock worth $524,000 after acquiring an additional 6,312 shares in the last quarter. Finally, Bridgeway Capital Management LLC boosted its position in shares of CVRx by 8.9% during the 3rd quarter. Bridgeway Capital Management LLC now owns 54,000 shares of the company’s stock worth $436,000 after acquiring an additional 4,400 shares in the last quarter. 75.27% of the stock is owned by institutional investors and hedge funds.

About CVRx

CVRx, Inc is a clinical-stage medical device company focused on developing a neuromodulation platform therapy for patients with cardiovascular disease. The company’s flagship product, the Barostim™ system, delivers targeted electrical stimulation to the carotid baroreceptors with the goal of modulating the body’s natural blood pressure control mechanisms. This minimally invasive, implantable therapy is designed to address unmet needs in individuals suffering from hypertension and heart failure.

The Barostim system is currently being evaluated in multiple clinical trials, including studies in resistant hypertension and advanced heart failure.