CVRx (NASDAQ:CVRX) Director Acquires $297,648.00 in Stock

CVRx, Inc. (NASDAQ:CVRX) Director Mudit Jain bought 46,800 shares of the company’s stock in a transaction on Friday, February 20th. The shares were acquired at an average price of $6.36 per share, with a total value of $297,648.00. Following the transaction, the director directly owned 980,183 shares in the company, valued at approximately $6,233,963.88. The trade was a 5.01% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through this link.

CVRx Stock Up 15.7%

Shares of CVRx stock opened at $6.11 on Monday. The business has a fifty day simple moving average of $6.82 and a 200 day simple moving average of $8.00. The stock has a market cap of $160.75 million, a PE ratio of -2.98 and a beta of 1.31. The company has a quick ratio of 6.72, a current ratio of 7.63 and a debt-to-equity ratio of 1.26. CVRx, Inc. has a 12 month low of $4.30 and a 12 month high of $14.14.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. AlphaQuest LLC lifted its stake in CVRx by 114.6% in the 2nd quarter. AlphaQuest LLC now owns 13,106 shares of the company’s stock valued at $77,000 after acquiring an additional 6,998 shares in the last quarter. Corton Capital Inc. acquired a new stake in shares of CVRx in the second quarter valued at approximately $176,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in CVRx by 120.0% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 29,032 shares of the company’s stock worth $171,000 after purchasing an additional 15,837 shares during the last quarter. Geode Capital Management LLC grew its position in CVRx by 6.4% in the second quarter. Geode Capital Management LLC now owns 382,437 shares of the company’s stock valued at $2,249,000 after purchasing an additional 23,079 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in CVRx in the second quarter valued at $59,000. 75.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on CVRX. Cantor Fitzgerald upgraded 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 research report on Monday, December 29th. Finally, Canaccord Genuity Group lowered their target price on CVRx from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $11.20.

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.