CVRx (NASDAQ:CVRX) Coverage Initiated at Cantor Fitzgerald

Investment analysts at Cantor Fitzgerald initiated coverage on shares of CVRx (NASDAQ:CVRX) in a report issued on Tuesday, Briefing.com reports. The firm set an “overweight” rating and a $14.00 price target on the stock. Cantor Fitzgerald’s target price points to a potential upside of 75.88% from the company’s current price.

Other equities research analysts have also issued reports about the stock. Canaccord Genuity Group upped their price target on shares of CVRx from $14.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Piper Sandler lowered their price objective 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 cut their target price on CVRx from $23.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Finally, Lake Street Capital restated a “buy” rating and set a $12.00 price target on shares of CVRx in a report on Monday, August 26th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, CVRx has a consensus rating of “Moderate Buy” and an average target price of $13.67.

CVRx Stock Down 5.5 %

Shares of NASDAQ:CVRX opened at $7.96 on Tuesday. The stock has a market capitalization of $173.45 million, a P/E ratio of -3.22 and a beta of 1.27. The stock’s 50-day moving average price is $9.28 and its 200-day moving average price is $12.29. The company has a current ratio of 10.08, a quick ratio of 8.85 and a debt-to-equity ratio of 0.53. CVRx has a 12-month low of $6.40 and a 12-month high of $33.13.

CVRx (NASDAQ:CVRX) last posted its quarterly earnings results on Monday, July 29th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.14). CVRx had a negative return on equity of 77.62% and a negative net margin of 122.52%. The company had revenue of $11.81 million for the quarter, compared to the consensus estimate of $11.84 million. During the same quarter in the previous year, the business earned ($0.56) earnings per share. On average, equities analysts anticipate that CVRx will post -2.57 earnings per share for the current year.

Insider Activity

In other CVRx news, CEO Kevin Hykes bought 30,000 shares of CVRx stock in a transaction dated Monday, August 5th. The shares were purchased at an average cost of $8.36 per share, with a total value of $250,800.00. Following the transaction, the chief executive officer now directly owns 30,000 shares of the company’s stock, valued at $250,800. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders have purchased 38,500 shares of company stock valued at $322,545. Corporate insiders own 18.90% of the company’s stock.

Institutional Investors Weigh In On CVRx

Hedge funds have recently added to or reduced their stakes in the stock. Silvercrest Asset Management Group LLC raised its position in shares of CVRx by 70.7% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 253,968 shares of the company’s stock worth $4,625,000 after purchasing an additional 105,198 shares during the last quarter. Jump Financial LLC bought a new stake in CVRx during the 4th quarter valued at about $499,000. Trexquant Investment LP purchased a new position in CVRx in the fourth quarter worth about $426,000. Vanguard Group Inc. lifted its stake in shares of CVRx by 5.6% in the first quarter. Vanguard Group Inc. now owns 594,312 shares of the company’s stock worth $10,822,000 after buying an additional 31,720 shares in the last quarter. Finally, Parkman Healthcare Partners LLC grew its holdings in shares of CVRx by 8.0% during 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 last quarter. 75.27% of the stock is owned by 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.