Emerald Mutual Fund Advisers Trust Has $4.44 Million Stock Holdings in CVRx, Inc. (NASDAQ:CVRX)

Emerald Mutual Fund Advisers Trust reduced its position in shares of CVRx, Inc. (NASDAQ:CVRX) by 3.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 370,034 shares of the company’s stock after selling 15,000 shares during the quarter. Emerald Mutual Fund Advisers Trust owned about 1.71% of CVRx worth $4,437,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CVRX. Rhumbline Advisers lifted its holdings in shares of CVRx by 28.8% in the 2nd quarter. Rhumbline Advisers now owns 17,260 shares of the company’s stock worth $207,000 after purchasing an additional 3,863 shares in the last quarter. Bank of New York Mellon Corp lifted 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 valued at $446,000 after buying an additional 8,741 shares in the last quarter. FourWorld Capital Management LLC bought a new position in shares of CVRx in the first quarter valued at $374,000. Silvercrest Asset Management Group LLC grew its holdings in shares of CVRx by 70.7% during the first quarter. Silvercrest Asset Management Group LLC now owns 253,968 shares of the company’s stock valued at $4,625,000 after buying an additional 105,198 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of CVRx by 5.6% during the first quarter. Vanguard Group Inc. now owns 594,312 shares of the company’s stock worth $10,822,000 after acquiring an additional 31,720 shares in the last quarter. Institutional investors and hedge funds own 75.27% of the company’s stock.

Wall Street Analysts Forecast Growth

CVRX has been the topic of several recent research reports. Lake Street Capital reaffirmed a “buy” rating and issued a $12.00 price target on shares of CVRx in a research report on Monday, August 26th. Piper Sandler cut their target price on CVRx from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 30th. Canaccord Genuity Group upped their price target on CVRx from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Finally, Craig Hallum dropped their price objective on CVRx from $23.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $13.60.

CVRx Stock Performance

CVRX stock opened at $8.42 on Friday. The company has a quick ratio of 8.85, a current ratio of 10.08 and a debt-to-equity ratio of 0.53. The firm has a market cap of $181.84 million, a PE ratio of -3.41 and a beta of 1.27. The business has a 50 day moving average of $9.36 and a 200-day moving average of $12.46. CVRx, Inc. has a 12-month low of $6.40 and a 12-month high of $33.13.

CVRx (NASDAQ:CVRX) last announced its earnings results on Monday, July 29th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.14). The business had revenue of $11.81 million for the quarter, compared to analysts’ expectations of $11.84 million. CVRx had a negative net margin of 122.52% and a negative return on equity of 77.62%. During the same period in the prior year, the business earned ($0.56) earnings per share. As a group, sell-side analysts expect that CVRx, Inc. will post -2.57 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Kevin Hykes bought 30,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were purchased at an average cost of $8.36 per share, for a total transaction of $250,800.00. Following the completion of the purchase, the chief executive officer now directly owns 30,000 shares in the company, valued at $250,800. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders purchased 38,500 shares of company stock worth $322,545. 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.