CVRx (NASDAQ:CVRX) Downgraded to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of CVRx (NASDAQ:CVRX) from an overweight rating to a neutral rating in a report published on Wednesday morning, MarketBeat Ratings reports. JPMorgan Chase & Co. currently has $13.00 price objective on the stock, down from their previous price objective of $36.00.

A number of other brokerages have also issued reports on CVRX. Piper Sandler raised their target price on CVRx from $21.00 to $33.00 and gave the stock an overweight rating in a research note on Friday, January 26th. William Blair downgraded shares of CVRx from an outperform rating to a market perform rating in a report on Wednesday. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, CVRx currently has a consensus rating of Moderate Buy and an average target price of $16.60.

CVRx Price Performance

Shares of CVRx stock opened at $10.12 on Wednesday. CVRx has a 52 week low of $7.77 and a 52 week high of $33.13. The company has a quick ratio of 12.86, a current ratio of 14.25 and a debt-to-equity ratio of 0.38. The company has a 50 day moving average price of $18.62 and a 200 day moving average price of $21.07.

Insider Activity at CVRx

In related news, major shareholder & Johnson Johnson sold 3,725 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $25.81, for a total value of $96,142.25. Following the completion of the transaction, the insider now directly owns 4,099,575 shares in the company, valued at approximately $105,810,030.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Paul Verrastro sold 2,545 shares of CVRx stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $21.91, for a total value of $55,760.95. Following the sale, the insider now owns 2,455 shares of the company’s stock, valued at approximately $53,789.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder & Johnson Johnson sold 3,725 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $25.81, for a total transaction of $96,142.25. Following the transaction, the insider now owns 4,099,575 shares of the company’s stock, valued at $105,810,030.75. The disclosure for this sale can be found here. 18.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Level Four Advisory Services LLC increased its stake in CVRx by 6.8% during the 4th quarter. Level Four Advisory Services LLC now owns 28,885 shares of the company’s stock worth $908,000 after buying an additional 1,844 shares in the last quarter. Federated Hermes Inc. purchased a new position in shares of CVRx in the fourth quarter valued at approximately $102,000. Emerald Advisers LLC boosted its stake in shares of CVRx by 1.3% in the third quarter. Emerald Advisers LLC now owns 501,073 shares of the company’s stock worth $7,601,000 after acquiring an additional 6,419 shares during the last quarter. Trexquant Investment LP purchased a new stake in shares of CVRx during the fourth quarter worth approximately $426,000. Finally, Jump Financial LLC acquired a new position in CVRx in the 4th quarter valued at $499,000. 75.27% of the stock is owned by hedge funds and other 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.