CVRx, Inc. (NASDAQ:CVRX) Insider Sells $19,419.40 in Stock

CVRx, Inc. (NASDAQ:CVRX) insider Paul Verrastro sold 1,430 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $13.58, for a total value of $19,419.40. Following the transaction, the insider now owns 1,875 shares in the company, valued at $25,462.50. This trade represents a 43.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

CVRx Price Performance

NASDAQ:CVRX opened at $14.85 on Friday. The business’s 50-day moving average price is $10.90 and its 200 day moving average price is $9.73. The firm has a market cap of $360.32 million, a P/E ratio of -5.50 and a beta of 1.16. The company has a quick ratio of 10.23, a current ratio of 11.32 and a debt-to-equity ratio of 0.76. CVRx, Inc. has a 52-week low of $6.40 and a 52-week high of $33.13.

CVRx (NASDAQ:CVRX) last issued its earnings results on Tuesday, October 29th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.12). The company had revenue of $13.37 million during the quarter, compared to analyst estimates of $13.28 million. CVRx had a negative return on equity of 89.06% and a negative net margin of 123.75%. During the same quarter in the previous year, the firm earned ($0.43) earnings per share. As a group, sell-side analysts predict that CVRx, Inc. will post -2.62 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CVRX shares. Cantor Fitzgerald restated an “overweight” rating and set a $14.00 price objective on shares of CVRx in a research note on Wednesday, October 23rd. Craig Hallum upped their price target on shares of CVRx from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Lake Street Capital increased their price objective on shares of CVRx from $12.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Piper Sandler reissued an “overweight” rating and set a $16.00 target price (up from $13.00) on shares of CVRx in a research note on Wednesday, October 30th. Finally, Canaccord Genuity Group raised their price target on shares of CVRx from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $15.83.

Institutional Investors Weigh In On CVRx

Several hedge funds have recently made changes to their positions in CVRX. Vanguard Group Inc. increased its holdings in shares of CVRx by 5.6% in the 1st 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 during the period. Silvercrest Asset Management Group LLC increased its stake in CVRx by 70.7% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 253,968 shares of the company’s stock valued at $4,625,000 after buying an additional 105,198 shares during the period. FourWorld Capital Management LLC purchased a new stake in CVRx in the 1st quarter worth approximately $374,000. Bank of New York Mellon Corp grew its holdings in shares of CVRx by 30.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 37,191 shares of the company’s stock valued at $446,000 after acquiring an additional 8,741 shares in the last quarter. Finally, Rhumbline Advisers increased its stake 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 acquiring an additional 3,863 shares during the last quarter. Hedge funds and other 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.