CVRx (NASDAQ:CVRX) Coverage Initiated by Analysts at Craig Hallum

Craig Hallum assumed coverage on shares of CVRx (NASDAQ:CVRX) in a research report report published on Wednesday morning, MarketBeat reports. The brokerage issued a buy rating and a $23.00 target price on the stock.

Several other brokerages also recently commented on CVRX. JPMorgan Chase & Co. downgraded CVRx from an overweight rating to a neutral rating and lowered their target price for the stock from $36.00 to $13.00 in a research note on Wednesday. Piper Sandler lifted their price target on shares of CVRx from $21.00 to $33.00 and gave the company an overweight rating in a report on Friday, January 26th. Finally, William Blair downgraded shares of CVRx from an outperform rating to a market perform rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, CVRx presently has a consensus rating of Moderate Buy and an average price target of $16.60.

CVRx Trading Down 34.8 %

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

Insider Buying and Selling at CVRx

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

Institutional Investors Weigh In On CVRx

Several institutional investors and hedge funds have recently made changes to their positions in CVRX. Federated Hermes Inc. acquired a new position in shares of CVRx in the fourth quarter worth approximately $102,000. Trexquant Investment LP bought a new position in CVRx during the fourth quarter worth $426,000. Jump Financial LLC bought a new stake in CVRx in the 4th quarter valued at about $499,000. Valeo Financial Advisors LLC bought a new stake in shares of CVRx during the first quarter valued at approximately $346,000. Finally, Level Four Advisory Services LLC grew its position in CVRx by 6.8% in the 4th quarter. Level Four Advisory Services LLC now owns 28,885 shares of the company’s stock valued at $908,000 after purchasing an additional 1,844 shares during the period. Institutional investors and hedge funds own 75.27% of the company’s stock.

About CVRx

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.