Canaccord Genuity Group Trims CVRx (NASDAQ:CVRX) Target Price to $14.00

CVRx (NASDAQ:CVRX) had its price objective trimmed by Canaccord Genuity Group from $32.00 to $14.00 in a research note issued to investors on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Several other research firms have also commented on CVRX. JPMorgan Chase & Co. lowered shares of CVRx from an overweight rating to a neutral rating and reduced their price target for the company from $36.00 to $13.00 in a report on Wednesday. Craig Hallum began coverage on shares of CVRx in a research note on Wednesday. They issued a buy rating and a $23.00 price objective for the company. Piper Sandler dropped their target price on CVRx from $33.00 to $15.00 and set an overweight rating on the stock in a research report on Wednesday. Finally, William Blair lowered CVRx from an outperform rating to a market perform rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $16.60.

CVRx Stock Performance

CVRx stock opened at $9.22 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 12.86 and a current ratio of 14.25. The company has a market capitalization of $199.06 million, a PE ratio of -3.76 and a beta of 1.35. The company has a 50 day moving average price of $18.11 and a 200-day moving average price of $20.90. CVRx has a fifty-two week low of $7.77 and a fifty-two week high of $33.13.

Insider Buying and Selling at CVRx

In other news, insider Paul Verrastro sold 2,545 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $21.91, for a total transaction of $55,760.95. Following the transaction, the insider now directly owns 2,455 shares of the company’s stock, valued at $53,789.05. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Paul Verrastro sold 2,545 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $21.91, for a total transaction of $55,760.95. Following the sale, the insider now owns 2,455 shares in the company, valued at $53,789.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder & Johnson Johnson sold 3,725 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $25.81, for a total transaction of $96,142.25. Following the sale, the insider now directly owns 4,099,575 shares in the company, valued at approximately $105,810,030.75. The disclosure for this sale can be found here. 18.30% of the stock is owned by insiders.

Institutional Investors Weigh In On CVRx

A number of large investors have recently bought and sold shares of CVRX. Lord Abbett & CO. LLC purchased a new position in CVRx during the 3rd quarter worth approximately $7,116,000. GSG Advisors LLC acquired a new stake in shares of CVRx in the third quarter worth $2,435,000. Kestra Advisory Services LLC purchased a new position in shares of CVRx during the third quarter worth $462,000. Schonfeld Strategic Advisors LLC lifted its position in CVRx by 47.2% during the third quarter. Schonfeld Strategic Advisors LLC now owns 59,900 shares of the company’s stock valued at $909,000 after purchasing an additional 19,200 shares during the period. Finally, Valeo Financial Advisors LLC purchased a new stake in CVRx in the first quarter valued at $346,000. Hedge funds and other institutional investors own 75.27% of the company’s stock.

CVRx Company Profile

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.