CVRx (NASDAQ:CVRX) Downgraded to Neutral at JPMorgan Chase & Co.

CVRx (NASDAQ:CVRX) was downgraded by equities researchers at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued on Wednesday, Briefing.com reports. They currently have a $13.00 price target on the stock, down from their previous price target of $36.00. JPMorgan Chase & Co.‘s price target would suggest a potential downside of 16.18% from the stock’s current price.

A number of other equities research analysts have also recently commented on the stock. William Blair cut shares of CVRx from an “outperform” rating to a “market perform” rating in a report on Wednesday. Piper Sandler boosted their target price on CVRx from $21.00 to $33.00 and gave the company an “overweight” rating in a report on Friday, January 26th.

CVRx Stock Performance

Shares of CVRx stock opened at $15.51 on Wednesday. The stock has a market capitalization of $334.86 million, a price-to-earnings ratio of -7.83 and a beta of 1.29. The firm’s fifty day simple moving average is $18.62 and its 200-day simple moving average is $21.07. The company has a debt-to-equity ratio of 0.38, a current ratio of 14.25 and a quick ratio of 12.86. CVRx has a 12 month low of $9.92 and a 12 month high of $33.13.

Insider Buying and Selling at CVRx

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

Institutional Trading of CVRx

Several institutional investors and hedge funds have recently modified their holdings of CVRX. Emerald Advisers LLC increased its position in CVRx by 1.3% during the third quarter. Emerald Advisers LLC now owns 501,073 shares of the company’s stock worth $7,601,000 after buying an additional 6,419 shares in the last quarter. Emerald Mutual Fund Advisers Trust lifted its holdings in CVRx by 4.1% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 430,844 shares of the company’s stock valued at $6,536,000 after purchasing an additional 16,808 shares in the last quarter. GSG Advisors LLC acquired a new stake in shares of CVRx during the 3rd quarter worth about $2,435,000. Lord Abbett & CO. LLC purchased a new stake in shares of CVRx during the third quarter worth about $7,116,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of CVRx in the third quarter valued at approximately $462,000. 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.