Rhumbline Advisers Buys 3,863 Shares of CVRx, Inc. (NASDAQ:CVRX)

Rhumbline Advisers lifted its stake in CVRx, Inc. (NASDAQ:CVRX) by 28.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,260 shares of the company’s stock after acquiring an additional 3,863 shares during the period. Rhumbline Advisers’ holdings in CVRx were worth $207,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Silvercrest Asset Management Group LLC raised its position in shares of CVRx by 70.7% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 253,968 shares of the company’s stock worth $4,625,000 after acquiring an additional 105,198 shares in the last quarter. Trexquant Investment LP acquired a new position in CVRx during the 4th quarter valued at about $426,000. Parkman Healthcare Partners LLC increased its holdings in shares of CVRx by 8.0% in the fourth quarter. Parkman Healthcare Partners LLC now owns 240,000 shares of the company’s stock valued at $7,546,000 after purchasing an additional 17,880 shares during the period. Vanguard Group Inc. increased its holdings in shares of CVRx by 5.6% in the first quarter. Vanguard Group Inc. now owns 594,312 shares of the company’s stock valued at $10,822,000 after purchasing an additional 31,720 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of CVRx by 30.7% in the second quarter. Bank of New York Mellon Corp now owns 37,191 shares of the company’s stock worth $446,000 after buying an additional 8,741 shares during the last quarter. 75.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CVRX has been the topic of a number of recent research reports. Piper Sandler lowered their target price on CVRx from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 30th. Craig Hallum cut their price target on CVRx from $23.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Cantor Fitzgerald assumed coverage on CVRx in a research note on Tuesday, September 10th. They set an “overweight” rating and a $14.00 target price for the company. Lake Street Capital reaffirmed a “buy” rating and issued a $12.00 price objective on shares of CVRx in a research note on Monday, August 26th. Finally, Canaccord Genuity Group lifted their price objective on CVRx from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, CVRx presently has an average rating of “Moderate Buy” and an average target price of $13.67.

CVRx Stock Up 2.3 %

Shares of NASDAQ CVRX opened at $8.63 on Friday. The company has a market capitalization of $186.37 million, a price-to-earnings ratio of -3.49 and a beta of 1.27. The company has a debt-to-equity ratio of 0.53, a current ratio of 10.08 and a quick ratio of 8.85. The business has a 50-day moving average of $8.76 and a two-hundred day moving average of $11.17. CVRx, Inc. has a 1 year low of $6.40 and a 1 year high of $33.13.

CVRx (NASDAQ:CVRX) last posted its earnings results on Monday, July 29th. The company reported ($0.65) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.14). CVRx had a negative return on equity of 77.62% and a negative net margin of 122.52%. The firm had revenue of $11.81 million for the quarter, compared to analyst estimates of $11.84 million. During the same quarter last year, the firm posted ($0.56) EPS. On average, analysts forecast that CVRx, Inc. will post -2.56 earnings per share for the current fiscal year.

Insider Transactions at CVRx

In other news, CEO Kevin Hykes bought 30,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were acquired at an average price of $8.36 per share, for a total transaction of $250,800.00. Following the completion of the transaction, the chief executive officer now owns 30,000 shares of the company’s stock, valued at $250,800. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have bought 38,500 shares of company stock worth $322,545. Corporate insiders own 18.90% 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.