CVRx (NASDAQ:CVRX) COO Brent Binkowski Buys 26,223 Shares of Stock

CVRx, Inc. (NASDAQ:CVRX) COO Brent Binkowski acquired 26,223 shares of the stock in a transaction on Thursday, August 13th. The stock was bought at an average price of $2.91 per share, for a total transaction of $76,308.93. Following the transaction, the chief operating officer owned 56,514 shares in the company, valued at approximately $164,455.74. This represents a 86.57% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.

Brent Binkowski also recently made the following trade(s):

• On Wednesday, August 12th, Brent Binkowski sold 1,309 shares of CVRx stock. The stock was sold at an average price of $2.55, for a total transaction of $3,337.95.

CVRx Price Performance

NASDAQ:CVRX opened at $2.94 on Friday. The company has a debt-to-equity ratio of 2.94, a current ratio of 8.04 and a quick ratio of 6.87. The firm has a market cap of $78.32 million, a price-to-earnings ratio of -1.48 and a beta of 0.81. The company has a 50 day moving average price of $4.96 and a 200-day moving average price of $6.40. CVRx, Inc. has a 1-year low of $2.20 and a 1-year high of $11.30.

CVRx (NASDAQ:CVRX) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.01). CVRx had a negative return on equity of 152.35% and a negative net margin of 84.93%.The firm had revenue of $15.71 million for the quarter, compared to analysts’ expectations of $15.55 million. Equities research analysts forecast that CVRx, Inc. will post -1.97 EPS for the current year.

Institutional Trading of CVRx

Several institutional investors have recently modified their holdings of CVRX. Alliancebernstein L.P. increased its stake in shares of CVRx by 10.7% during the third quarter. Alliancebernstein L.P. now owns 17,560 shares of the company’s stock worth $142,000 after purchasing an additional 1,700 shares in the last quarter. Cresset Asset Management LLC lifted its stake in CVRx by 3.5% in the 2nd quarter. Cresset Asset Management LLC now owns 53,542 shares of the company’s stock valued at $315,000 after buying an additional 1,823 shares in the last quarter. Barclays PLC lifted its stake in CVRx by 9.8% in the 4th quarter. Barclays PLC now owns 25,262 shares of the company’s stock valued at $179,000 after buying an additional 2,257 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in CVRx by 7.4% in the 1st quarter. Bank of New York Mellon Corp now owns 38,542 shares of the company’s stock worth $365,000 after buying an additional 2,649 shares during the last quarter. Finally, Larson Financial Group LLC boosted its holdings in CVRx by 155.6% in the 4th quarter. Larson Financial Group LLC now owns 5,426 shares of the company’s stock worth $39,000 after buying an additional 3,303 shares during the last quarter. Institutional investors and hedge funds own 75.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CVRX shares. Lake Street Capital lowered CVRx from a “buy” rating to a “hold” rating and cut their price target for the company from $14.00 to $3.50 in a research note on Friday, August 7th. Weiss Ratings reiterated a “sell (e+)” rating on shares of CVRx in a research report on Monday, August 3rd. Piper Sandler lowered CVRx from an “overweight” rating to a “neutral” rating and set a $4.00 price objective on the stock. in a report on Friday, August 7th. Wall Street Zen cut CVRx from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Finally, Craig Hallum cut CVRx from a “buy” rating to a “hold” rating and set a $4.00 price objective for the company. in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $6.90.

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.