CVRx (NASDAQ:CVRX) Price Target Lowered to $14.00 at Lake Street Capital

CVRx (NASDAQ:CVRX) had its target price decreased by Lake Street Capital from $19.00 to $14.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Lake Street Capital’s price objective would indicate a potential upside of 125.81% from the stock’s current price.

Several other research firms have also commented on CVRX. Canaccord Genuity Group reduced their price objective on CVRx from $23.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday. William Blair upgraded CVRx from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 14th. Piper Sandler increased their price objective on shares of CVRx from $16.00 to $20.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Finally, Craig Hallum lifted their target price on shares of CVRx from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, January 17th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.83.

CVRx Stock Performance

Shares of CVRX traded down $5.34 during mid-day trading on Tuesday, hitting $6.20. 4,330,993 shares of the company traded hands, compared to its average volume of 297,491. CVRx has a 1 year low of $5.87 and a 1 year high of $19.24. The company has a debt-to-equity ratio of 0.69, a quick ratio of 10.23 and a current ratio of 12.06. The stock has a 50-day moving average price of $13.38 and a two-hundred day moving average price of $13.01. The stock has a market cap of $161.42 million, a price-to-earnings ratio of -2.30 and a beta of 1.34.

CVRx (NASDAQ:CVRX) last issued its quarterly earnings data on Tuesday, February 4th. The company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.06). CVRx had a negative return on equity of 93.06% and a negative net margin of 116.91%. Equities analysts anticipate that CVRx will post -1.91 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC grew its stake in shares of CVRx by 43.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,900 shares of the company’s stock worth $49,000 after buying an additional 1,186 shares in the last quarter. GAMMA Investing LLC raised its position in CVRx by 1,469.3% during the first quarter. GAMMA Investing LLC now owns 4,598 shares of the company’s stock valued at $56,000 after purchasing an additional 4,305 shares during the period. Quarry LP bought a new stake in shares of CVRx in the 4th quarter valued at approximately $69,000. MetLife Investment Management LLC purchased a new stake in CVRx during the 4th quarter valued at $111,000. Finally, Wells Fargo & Company MN increased its position in CVRx by 86.1% during the fourth quarter. Wells Fargo & Company MN now owns 8,894 shares of the company’s stock valued at $113,000 after acquiring an additional 4,115 shares during the last quarter. 75.27% of the stock is currently owned by institutional investors.

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.