CVRx (NASDAQ:CVRX) Given New $15.00 Price Target at Piper Sandler

CVRx (NASDAQ:CVRX) had its target price lowered by Piper Sandler from $33.00 to $15.00 in a research note issued to investors on Wednesday, Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

CVRX has been the topic of several other research reports. JPMorgan Chase & Co. downgraded shares of CVRx from an overweight rating to a neutral rating and lowered their target price for the stock from $36.00 to $13.00 in a report on Wednesday. Craig Hallum initiated coverage on shares of CVRx in a research note on Wednesday. They issued a buy rating and a $23.00 price target on the stock. Finally, William Blair downgraded shares of CVRx from an outperform rating to a market perform rating in a report on Wednesday. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $16.60.

CVRx Stock Down 34.8 %

NASDAQ CVRX opened at $10.12 on Wednesday. CVRx has a 12 month low of $7.77 and a 12 month high of $33.13. The company has a current ratio of 14.25, a quick ratio of 12.86 and a debt-to-equity ratio of 0.38. The stock has a market cap of $218.54 million, a PE ratio of -5.11 and a beta of 1.29. The stock’s 50 day moving average is $18.62 and its 200 day moving average is $21.07.

Insider Transactions at CVRx

In other news, major shareholder & Johnson Johnson sold 3,725 shares of CVRx 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 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 document filed with the SEC, which is available through the SEC website. In other news, major shareholder & Johnson Johnson sold 3,725 shares of the firm’s 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 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul Verrastro sold 2,545 shares of CVRx 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 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. Insiders own 18.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Federated Hermes Inc. purchased a new position in CVRx during the 4th quarter valued at $102,000. Valeo Financial Advisors LLC bought a new stake in shares of CVRx during the first quarter worth $346,000. Trexquant Investment LP purchased a new stake in shares of CVRx during the fourth quarter valued at $426,000. Kestra Advisory Services LLC bought a new position in shares of CVRx in the third quarter worth about $462,000. Finally, Jump Financial LLC purchased a new position in CVRx in the 4th quarter worth about $499,000. 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.