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

JPMorgan Chase & Co. downgraded shares of CVRx (NASDAQ:CVRX) from an overweight rating to a neutral rating in a research note released on Wednesday, MarketBeat.com reports. They currently have $13.00 price target on the stock, down from their previous price target of $36.00.

CVRX has been the subject of several other research reports. Piper Sandler boosted their price objective on CVRx from $21.00 to $33.00 and gave the company an overweight rating in a report on Friday, January 26th. William Blair cut CVRx from an outperform rating to a market perform rating in a report on Wednesday. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, CVRx has a consensus rating of Moderate Buy and a consensus price target of $16.60.

CVRx Stock Performance

Shares of CVRX opened at $9.22 on Wednesday. The stock has a 50-day moving average of $17.85 and a two-hundred day moving average of $20.88. CVRx has a one year low of $7.77 and a one year high of $33.13. The company has a debt-to-equity ratio of 0.38, a quick ratio of 12.86 and a current ratio of 14.25. The stock has a market cap of $199.06 million, a P/E ratio of -3.73 and a beta of 1.35.

Insider Transactions at CVRx

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Federated Hermes Inc. acquired a new position in shares of CVRx in the fourth quarter worth $102,000. Trexquant Investment LP purchased a new stake in shares of CVRx in the 4th quarter valued at approximately $426,000. Jump Financial LLC purchased a new stake in shares of CVRx in the 4th quarter valued at approximately $499,000. Valeo Financial Advisors LLC purchased a new stake in shares of CVRx during the 1st quarter worth $346,000. Finally, Level Four Advisory Services LLC grew its stake in shares of CVRx by 6.8% during the fourth quarter. Level Four Advisory Services LLC now owns 28,885 shares of the company’s stock worth $908,000 after purchasing an additional 1,844 shares in the last quarter. 75.27% of the stock is currently owned by hedge funds and other institutional investors.

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.