CVRx, Inc. (NASDAQ:CVRX) Insider Paul Verrastro Sells 1,430 Shares

CVRx, Inc. (NASDAQ:CVRX) insider Paul Verrastro sold 1,430 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $13.58, for a total value of $19,419.40. Following the sale, the insider now directly owns 1,875 shares of the company’s stock, valued at $25,462.50. The trade was a 43.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

CVRx Stock Performance

Shares of NASDAQ CVRX opened at $14.85 on Friday. The firm has a market capitalization of $360.32 million, a price-to-earnings ratio of -5.50 and a beta of 1.16. CVRx, Inc. has a one year low of $6.40 and a one year high of $33.13. The business has a fifty day simple moving average of $10.90 and a 200 day simple moving average of $9.73. The company has a current ratio of 11.32, a quick ratio of 10.23 and a debt-to-equity ratio of 0.76.

CVRx (NASDAQ:CVRX) last released its quarterly earnings data on Tuesday, October 29th. The company reported ($0.57) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.12). CVRx had a negative net margin of 123.75% and a negative return on equity of 89.06%. The company had revenue of $13.37 million for the quarter, compared to analyst estimates of $13.28 million. During the same period in the previous year, the firm posted ($0.43) earnings per share. Sell-side analysts expect that CVRx, Inc. will post -2.62 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Craig Hallum boosted their price objective on shares of CVRx from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Canaccord Genuity Group boosted their target price on shares of CVRx from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Lake Street Capital raised their price target on CVRx from $12.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Piper Sandler reissued an “overweight” rating and set a $16.00 price objective (up previously from $13.00) on shares of CVRx in a research report on Wednesday, October 30th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $14.00 target price on shares of CVRx in a research note on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $15.83.

Institutional Investors Weigh In On CVRx

Institutional investors and hedge funds have recently made changes to their positions in the company. Barclays PLC increased its position in shares of CVRx by 312.5% during the 3rd quarter. Barclays PLC now owns 19,067 shares of the company’s stock worth $169,000 after purchasing an additional 14,445 shares in the last quarter. Geode Capital Management LLC grew its stake in CVRx by 2.2% during the third quarter. Geode Capital Management LLC now owns 295,124 shares of the company’s stock worth $2,600,000 after buying an additional 6,443 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of CVRx during the third quarter worth approximately $150,000. Jane Street Group LLC raised its stake in shares of CVRx by 36.1% in the third quarter. Jane Street Group LLC now owns 19,038 shares of the company’s stock valued at $168,000 after acquiring an additional 5,053 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of CVRx by 11.4% in the 3rd quarter. State Street Corp now owns 264,733 shares of the company’s stock worth $2,332,000 after acquiring an additional 27,071 shares in the last quarter. Institutional investors and hedge funds own 75.27% of the company’s stock.

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.