CVRx, Inc. (NASDAQ:CVRX) CEO Buys $250,800.00 in Stock

CVRx, Inc. (NASDAQ:CVRX) CEO Kevin Hykes acquired 30,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was acquired at an average price of $8.36 per share, with a total value of $250,800.00. Following the transaction, the chief executive officer now owns 30,000 shares in the company, valued at approximately $250,800. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

CVRx Trading Up 2.8 %

CVRx stock traded up $0.23 during trading hours on Monday, reaching $8.46. 571,562 shares of the company’s stock were exchanged, compared to its average volume of 258,582. The company has a quick ratio of 10.87, a current ratio of 12.18 and a debt-to-equity ratio of 0.44. The firm’s 50 day simple moving average is $9.68 and its 200 day simple moving average is $15.22. The firm has a market capitalization of $182.70 million, a PE ratio of -3.33 and a beta of 1.25. CVRx, Inc. has a twelve month low of $6.40 and a twelve month high of $33.13.

CVRx (NASDAQ:CVRX) last announced its quarterly earnings results on Monday, July 29th. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.14). CVRx had a negative net margin of 122.52% and a negative return on equity of 72.51%. The business had revenue of $11.81 million during the quarter, compared to the consensus estimate of $11.84 million. During the same period in the previous year, the business posted ($0.56) EPS. Research analysts predict that CVRx, Inc. will post -2.57 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CVRX. Lake Street Capital decreased their price objective on CVRx from $18.00 to $12.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Canaccord Genuity Group boosted their price target on CVRx from $14.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Piper Sandler dropped their target price on CVRx from $15.00 to $13.00 and set an “overweight” rating on the stock in a report on Tuesday, July 30th. JPMorgan Chase & Co. downgraded CVRx from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $36.00 to $13.00 in a research report on Wednesday, May 1st. Finally, William Blair downgraded CVRx from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $13.60.

Institutional Investors Weigh In On CVRx

A number of hedge funds have recently modified their holdings of the stock. Rhumbline Advisers increased its holdings in shares of CVRx by 28.8% in the second quarter. Rhumbline Advisers now owns 17,260 shares of the company’s stock worth $207,000 after purchasing an additional 3,863 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of CVRx by 30.7% during the second quarter. Bank of New York Mellon Corp now owns 37,191 shares of the company’s stock worth $446,000 after purchasing an additional 8,741 shares during the period. FourWorld Capital Management LLC purchased a new stake in CVRx in the first quarter worth about $374,000. Silvercrest Asset Management Group LLC lifted its holdings in CVRx by 70.7% in the first quarter. Silvercrest Asset Management Group LLC now owns 253,968 shares of the company’s stock worth $4,625,000 after buying an additional 105,198 shares during the period. Finally, Vanguard Group Inc. increased 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 valued at $10,822,000 after purchasing an additional 31,720 shares in the last quarter. Institutional investors 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.