CVRx, Inc. (NASDAQ:CVRX) Sees Significant Increase in Short Interest

CVRx, Inc. (NASDAQ:CVRX) was the recipient of a large growth in short interest in February. As of February 27th, there was short interest totaling 1,932,071 shares, a growth of 28.1% from the February 12th total of 1,508,055 shares. Based on an average trading volume of 589,427 shares, the short-interest ratio is presently 3.3 days. Approximately 9.1% of the company’s stock are sold short. Approximately 9.1% of the company’s stock are sold short. Based on an average trading volume of 589,427 shares, the short-interest ratio is presently 3.3 days.

CVRx Stock Up 1.2%

Shares of NASDAQ CVRX traded up $0.09 during trading on Friday, reaching $7.53. The company had a trading volume of 238,884 shares, compared to its average volume of 444,731. CVRx has a 12-month low of $4.30 and a 12-month high of $13.34. The company has a quick ratio of 6.72, a current ratio of 7.63 and a debt-to-equity ratio of 1.26. The business’s 50-day moving average is $6.89 and its 200 day moving average is $8.05. The stock has a market cap of $198.11 million, a PE ratio of -3.67 and a beta of 1.28.

CVRx (NASDAQ:CVRX) last posted its quarterly earnings results on Thursday, February 12th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.04). The company had revenue of $16.02 million during the quarter, compared to analysts’ expectations of $15.75 million. CVRx had a negative return on equity of 99.32% and a negative net margin of 94.10%. As a group, equities analysts forecast that CVRx will post -1.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Weiss Ratings reissued 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 for the company in a research note on Friday, February 13th. Finally, Cantor Fitzgerald raised shares of CVRx to a “strong-buy” rating in a research report on Tuesday, February 17th. Two research 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $11.20.

Insider Activity at CVRx

In other news, Director Mudit K. Jain purchased 46,800 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The shares were bought at an average cost of $6.36 per share, for a total transaction of $297,648.00. Following the completion of the transaction, the director directly owned 980,183 shares of the company’s stock, valued at $6,233,963.88. This trade represents a 5.01% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 13.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CVRX. Mount Lucas Management LP bought a new stake in shares of CVRx during the second quarter valued at approximately $30,000. Larson Financial Group LLC boosted its stake in CVRx by 155.6% during the 4th quarter. Larson Financial Group LLC now owns 5,426 shares of the company’s stock valued at $39,000 after purchasing an additional 3,303 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of CVRx in the 2nd quarter worth $59,000. R Squared Ltd bought a new position in shares of CVRx during the fourth quarter valued at $74,000. Finally, Virtu Financial LLC purchased a new stake in shares of CVRx during the fourth quarter valued at $79,000. Institutional investors own 75.27% of the company’s stock.

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.