Short Interest in CVRx, Inc. (NASDAQ:CVRX) Increases By 26.5%

CVRx, Inc. (NASDAQ:CVRX) saw a significant growth in short interest in May. As of May 31st, there was short interest totalling 1,110,000 shares, a growth of 26.5% from the May 15th total of 877,200 shares. Based on an average daily trading volume, of 251,000 shares, the short-interest ratio is presently 4.4 days. Approximately 10.2% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FourWorld Capital Management LLC acquired a new position in shares of CVRx during the first quarter worth about $374,000. Silvercrest Asset Management Group LLC lifted its stake in shares of CVRx by 70.7% during the first quarter. Silvercrest Asset Management Group LLC now owns 253,968 shares of the company’s stock worth $4,625,000 after purchasing an additional 105,198 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of CVRx by 5.6% during the first quarter. Vanguard Group Inc. now owns 594,312 shares of the company’s stock worth $10,822,000 after purchasing an additional 31,720 shares in the last quarter. Johnson & Johnson lifted its stake in shares of CVRx by 17.4% during the first quarter. Johnson & Johnson now owns 4,103,430 shares of the company’s stock worth $74,723,000 after purchasing an additional 607,855 shares in the last quarter. Finally, Valeo Financial Advisors LLC acquired a new position in shares of CVRx during the first quarter worth about $346,000. Institutional investors and hedge funds own 75.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Piper Sandler dropped their price target on CVRx from $33.00 to $15.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. Craig Hallum initiated coverage on CVRx in a report on Wednesday, May 1st. They set a “buy” rating and a $23.00 price objective on the stock. William Blair cut CVRx from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 1st. Canaccord Genuity Group decreased their price objective on CVRx from $32.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. cut CVRx from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $36.00 to $13.00 in a report on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $16.60.

CVRx Trading Up 7.5 %

CVRx stock traded up $0.76 during midday trading on Monday, reaching $10.96. The stock had a trading volume of 504,408 shares, compared to its average volume of 220,335. CVRx has a twelve month low of $6.40 and a twelve month high of $33.13. The stock has a market capitalization of $236.74 million, a PE ratio of -4.44 and a beta of 1.08. The company has a debt-to-equity ratio of 0.44, a quick ratio of 10.87 and a current ratio of 12.18. The stock’s 50-day simple moving average is $10.76 and its 200 day simple moving average is $19.16.

CVRx (NASDAQ:CVRX) last issued its earnings results on Tuesday, April 30th. The company reported ($1.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.51). CVRx had a negative net margin of 123.58% and a negative return on equity of 66.05%. The firm had revenue of $10.77 million during the quarter, compared to analyst estimates of $11.60 million. Analysts expect that CVRx will post -2.39 EPS for the current year.

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.