Insider Buying: CVRx, Inc. (NASDAQ:CVRX) Director Buys $59,764.70 in Stock

CVRx, Inc. (NASDAQ:CVRX) Director Kirk G. Nielsen acquired 10,966 shares of the stock in a transaction on Thursday, May 15th. The shares were bought at an average price of $5.45 per share, for a total transaction of $59,764.70. Following the purchase, the director now owns 1,910,134 shares in the company, valued at approximately $10,410,230.30. This trade represents a 0.58% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

CVRx Price Performance

Shares of CVRX stock traded up $0.51 on Monday, hitting $6.85. 396,079 shares of the company’s stock were exchanged, compared to its average volume of 332,950. The company has a 50 day moving average of $8.59 and a 200 day moving average of $12.36. The stock has a market cap of $178.60 million, a P/E ratio of -2.55 and a beta of 1.39. The company has a debt-to-equity ratio of 0.69, a current ratio of 12.06 and a quick ratio of 10.23. CVRx, Inc. has a 12 month low of $4.30 and a 12 month high of $18.55.

CVRx (NASDAQ:CVRX) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.53) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.03. The company had revenue of $12.35 million for the quarter, compared to the consensus estimate of $14.68 million. CVRx had a negative net margin of 116.91% and a negative return on equity of 93.06%. On average, equities research analysts predict that CVRx, Inc. will post -1.91 EPS for the current year.

Institutional Trading of CVRx

Hedge funds have recently added to or reduced their stakes in the stock. Larson Financial Group LLC bought a new position in shares of CVRx in the 1st quarter valued at $28,000. Tower Research Capital LLC TRC grew its position in CVRx by 43.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,900 shares of the company’s stock worth $49,000 after acquiring an additional 1,186 shares during the last quarter. GAMMA Investing LLC increased its holdings in CVRx by 1,469.3% in the 1st quarter. GAMMA Investing LLC now owns 4,598 shares of the company’s stock worth $56,000 after purchasing an additional 4,305 shares in the last quarter. Quarry LP acquired a new position in CVRx in the 4th quarter worth about $69,000. Finally, Whittier Trust Co. bought a new position in CVRx in the first quarter valued at about $73,000. Institutional investors and hedge funds own 75.27% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on CVRX. Canaccord Genuity Group decreased their price target on CVRx from $23.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Lake Street Capital reduced their price objective on shares of CVRx from $19.00 to $14.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. JPMorgan Chase & Co. restated an “underweight” rating and issued a $7.00 target price (down from $15.00) on shares of CVRx in a research report on Friday, May 9th. Finally, Piper Sandler cut their price target on shares of CVRx from $20.00 to $12.00 and set an “overweight” rating for the company in a report on Friday, May 9th. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $14.50.

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.