Cantor Fitzgerald Upgrades CVRx (NASDAQ:CVRX) to Strong-Buy

CVRx (NASDAQ:CVRX) was upgraded by stock analysts at Cantor Fitzgerald to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

CVRX has been the subject of several other reports. Weiss Ratings restated a “sell (d-)” rating on shares of CVRx in a research report on Monday, December 29th. Canaccord Genuity Group decreased their price target on shares of CVRx from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $11.20.

CVRx Trading Down 4.2%

Shares of CVRX stock opened at $4.74 on Tuesday. The business’s 50 day moving average is $7.01 and its two-hundred day moving average is $8.04. CVRx has a twelve month low of $4.30 and a twelve month high of $15.36. The company has a market capitalization of $124.24 million, a P/E ratio of -2.31 and a beta of 1.31. The company has a current ratio of 9.62, a quick ratio of 8.60 and a debt-to-equity ratio of 1.03.

CVRx (NASDAQ:CVRX) last released its quarterly earnings results on Thursday, February 12th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.04). The company had revenue of $16.02 million for the quarter, compared to analysts’ expectations of $15.75 million. CVRx had a negative return on equity of 91.20% and a negative net margin of 94.10%. Equities analysts forecast that CVRx will post -1.91 EPS for the current year.

Institutional Trading of CVRx

Institutional investors have recently made changes to their positions in the stock. GSK plc acquired a new stake in CVRx during the 4th quarter worth approximately $7,154,000. Balyasny Asset Management L.P. lifted its position in shares of CVRx by 65.5% during the second quarter. Balyasny Asset Management L.P. now owns 674,685 shares of the company’s stock worth $3,967,000 after purchasing an additional 267,063 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of CVRx by 238.1% in the second quarter. Marshall Wace LLP now owns 350,080 shares of the company’s stock valued at $2,058,000 after purchasing an additional 246,548 shares during the period. Jane Street Group LLC boosted its stake in shares of CVRx by 162.9% in the fourth quarter. Jane Street Group LLC now owns 225,349 shares of the company’s stock valued at $1,600,000 after purchasing an additional 139,643 shares during the period. Finally, FourWorld Capital Management LLC increased its stake in CVRx by 563.7% during the 2nd quarter. FourWorld Capital Management LLC now owns 124,123 shares of the company’s stock worth $730,000 after buying an additional 105,422 shares during the period. 75.27% of the stock is owned by hedge funds and other institutional investors.

About CVRx

CVRx, Inc is a clinical-stage medical device company focused on developing a neuromodulation platform therapy for patients with cardiovascular disease. The company’s flagship product, the Barostim™ system, delivers targeted electrical stimulation to the carotid baroreceptors with the goal of modulating the body’s natural blood pressure control mechanisms. This minimally invasive, implantable therapy is designed to address unmet needs in individuals suffering from hypertension and heart failure.

The Barostim system is currently being evaluated in multiple clinical trials, including studies in resistant hypertension and advanced heart failure.