CVRx (NASDAQ:CVRX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of CVRx (NASDAQ:CVRX) from a sell rating to a hold rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

Other equities analysts have also issued research reports about the stock. Lake Street Capital lowered shares of CVRx from a “buy” rating to a “hold” rating and cut their price objective for the stock from $14.00 to $3.50 in a report on Friday, August 7th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of CVRx in a research report on Monday, August 3rd. Craig Hallum lowered CVRx from a “buy” rating to a “hold” rating and set a $4.00 target price on the stock. in a research report on Friday, August 7th. Cantor Fitzgerald cut their price target on CVRx from $13.00 to $5.00 and set an “overweight” rating on the stock in a research note on Monday, August 17th. Finally, Piper Sandler lowered CVRx from an “overweight” rating to a “neutral” rating and set a $4.00 price objective for the company. in a research note on Friday, August 7th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, CVRx has an average rating of “Hold” and an average price target of $5.30.

CVRx Stock Up 4.2%

Shares of NASDAQ:CVRX opened at $3.00 on Friday. The company has a quick ratio of 6.87, a current ratio of 8.04 and a debt-to-equity ratio of 2.94. CVRx has a 52-week low of $2.20 and a 52-week high of $11.30. The company has a 50 day moving average of $3.97 and a two-hundred day moving average of $5.87. The company has a market capitalization of $79.92 million, a price-to-earnings ratio of -1.52 and a beta of 0.76.

CVRx (NASDAQ:CVRX) last posted its earnings results on Thursday, August 6th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.01). The firm had revenue of $15.71 million for the quarter, compared to analyst estimates of $15.55 million. CVRx had a negative return on equity of 152.35% and a negative net margin of 84.93%. As a group, analysts forecast that CVRx will post -2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Brent Binkowski bought 26,223 shares of the company’s stock in a transaction dated Thursday, August 13th. The stock was bought at an average price of $2.91 per share, with a total value of $76,308.93. Following the transaction, the chief operating officer owned 56,514 shares of the company’s stock, valued at approximately $164,455.74. This trade represents a 86.57% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 16.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CVRx

Large investors have recently modified their holdings of the stock. Bank of America Corp DE acquired a new position in CVRx in the second quarter worth about $102,000. BlackRock Inc. acquired a new stake in CVRx during the second quarter valued at approximately $6,402,000. Deutsche Bank AG bought a new position in CVRx during the 2nd quarter worth approximately $62,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in CVRx during the 2nd quarter worth approximately $107,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of CVRx in the 2nd quarter worth approximately $199,000. Institutional investors own 75.27% of the company’s stock.

CVRx Company Profile

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.