CVRx, Inc. (NASDAQ:CVRX) CEO Buys $250,800.00 in Stock

CVRx, Inc. (NASDAQ:CVRX) CEO Kevin Hykes purchased 30,000 shares of the stock in a transaction dated Monday, August 5th. The stock was bought at an average cost of $8.36 per share, with a total value of $250,800.00. Following the completion of the purchase, the chief executive officer now owns 30,000 shares in the company, valued at $250,800. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

CVRx Price Performance

Shares of NASDAQ CVRX opened at $8.50 on Thursday. The company has a quick ratio of 10.87, a current ratio of 12.18 and a debt-to-equity ratio of 0.44. The business’s 50 day moving average price is $9.76 and its two-hundred day moving average price is $14.93. The company has a market cap of $183.57 million, a PE ratio of -3.44 and a beta of 1.25. CVRx, Inc. has a twelve month low of $6.40 and a twelve month high of $33.13.

CVRx (NASDAQ:CVRX) last posted its earnings results on Monday, July 29th. The company reported ($0.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.14). CVRx had a negative return on equity of 72.51% and a negative net margin of 122.52%. The business had revenue of $11.81 million for the quarter, compared to analyst estimates of $11.84 million. During the same period in the previous year, the firm posted ($0.56) earnings per share. On average, analysts predict that CVRx, Inc. will post -2.57 EPS for the current year.

Hedge Funds Weigh In On CVRx

Large investors have recently modified their holdings of the stock. Johnson & Johnson grew its stake in CVRx by 17.4% in the 1st quarter. Johnson & Johnson now owns 4,103,430 shares of the company’s stock valued at $74,723,000 after buying an additional 607,855 shares during the last quarter. Silvercrest Asset Management Group LLC increased its stake in shares of CVRx by 70.7% during the first quarter. Silvercrest Asset Management Group LLC now owns 253,968 shares of the company’s stock worth $4,625,000 after purchasing an additional 105,198 shares during the period. Vanguard Group Inc. lifted its holdings in CVRx by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 594,312 shares of the company’s stock worth $10,822,000 after purchasing an additional 31,720 shares during the last quarter. FourWorld Capital Management LLC bought a new stake in CVRx in the 1st quarter valued at $374,000. Finally, Valeo Financial Advisors LLC acquired a new position in CVRx in the 1st quarter valued at $346,000. 75.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on CVRX shares. Craig Hallum reduced their target price on shares of CVRx from $23.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, July 11th. William Blair lowered CVRx from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 1st. Piper Sandler decreased their price target on CVRx from $15.00 to $13.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. JPMorgan Chase & Co. lowered CVRx from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $36.00 to $13.00 in a research report on Wednesday, May 1st. Finally, Lake Street Capital cut their price objective on CVRx from $18.00 to $12.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, CVRx has a consensus rating of “Moderate Buy” and an average target price of $13.60.

About CVRx

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.