CVRx (NASDAQ:CVRX) PT Lowered to $15.00

CVRx (NASDAQ:CVRX) had its price target cut by Piper Sandler from $33.00 to $15.00 in a research report report published on Wednesday, Benzinga reports. They currently have an overweight rating on the stock.

Other equities research analysts have also issued reports about the company. JPMorgan Chase & Co. lowered CVRx from an overweight rating to a neutral rating and reduced their price objective for the stock from $36.00 to $13.00 in a research note on Wednesday. William Blair lowered shares of CVRx from an outperform rating to a market perform rating in a report on Wednesday. Finally, Craig Hallum began coverage on shares of CVRx in a research report on Wednesday. They set a buy rating and a $23.00 price objective for the company. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $16.60.

CVRx Stock Performance

CVRx stock opened at $9.22 on Wednesday. The firm has a market cap of $199.06 million, a P/E ratio of -3.73 and a beta of 1.35. The firm has a 50-day moving average of $17.85 and a 200-day moving average of $20.88. CVRx has a 1-year low of $7.77 and a 1-year high of $33.13. The company has a current ratio of 14.25, a quick ratio of 12.86 and a debt-to-equity ratio of 0.38.

Insiders Place Their Bets

In other news, insider Paul Verrastro sold 2,545 shares of the 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 sale, the insider now directly owns 2,455 shares in the company, valued at $53,789.05. The sale was disclosed in a document filed with the SEC, which is available at this link. In other CVRx news, major shareholder & Johnson Johnson sold 3,725 shares of the firm’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 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 Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul Verrastro sold 2,545 shares of the stock in a transaction 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 approximately $53,789.05. The disclosure for this sale can be found here. 18.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

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