CVRx, Inc. (NASDAQ:CVRX) Sees Large Drop in Short Interest

CVRx, Inc. (NASDAQ:CVRX) was the target of a large decline in short interest in January. As of January 31st, there was short interest totalling 1,840,000 shares, a decline of 9.8% from the January 15th total of 2,040,000 shares. Approximately 13.2% of the shares of the stock are short sold. Based on an average trading volume of 226,600 shares, the days-to-cover ratio is presently 8.1 days.

Wall Street Analyst Weigh In

Several research firms have recently commented on CVRX. Cantor Fitzgerald reissued an “overweight” rating and set a $14.00 price target on shares of CVRx in a research note on Wednesday, October 23rd. Canaccord Genuity Group lifted their target price on CVRx from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, February 5th. Lake Street Capital upped their price target on CVRx from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. William Blair upgraded CVRx from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 14th. Finally, Craig Hallum boosted their price objective on CVRx from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, January 17th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.83.

CVRx Stock Up 4.1 %

NASDAQ CVRX traded up $0.60 on Monday, reaching $15.09. The company had a trading volume of 290,136 shares, compared to its average volume of 295,083. The company’s fifty day moving average is $14.71 and its 200-day moving average is $12.02. The firm has a market capitalization of $366.14 million, a price-to-earnings ratio of -5.61 and a beta of 1.30. The company has a debt-to-equity ratio of 0.76, a quick ratio of 10.23 and a current ratio of 11.32. CVRx has a 1-year low of $6.40 and a 1-year high of $23.59.

CVRx (NASDAQ:CVRX) last posted its quarterly earnings data on Tuesday, February 4th. The company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.06). CVRx had a negative return on equity of 96.36% and a negative net margin of 116.91%. On average, research analysts forecast that CVRx will post -1.89 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CVRx

Several institutional investors and hedge funds have recently added to or reduced their stakes in CVRX. Tower Research Capital LLC TRC increased its position in shares of CVRx by 43.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,900 shares of the company’s stock valued at $49,000 after acquiring an additional 1,186 shares during the last quarter. Quarry LP bought a new position in CVRx in the fourth quarter valued at approximately $69,000. SG Americas Securities LLC acquired a new position in shares of CVRx during the 3rd quarter worth approximately $108,000. MetLife Investment Management LLC bought a new stake in shares of CVRx during the 4th quarter worth approximately $111,000. Finally, Wells Fargo & Company MN boosted its holdings in shares of CVRx by 86.1% in the 4th quarter. Wells Fargo & Company MN now owns 8,894 shares of the company’s stock valued at $113,000 after buying an additional 4,115 shares during the last quarter. 75.27% of the stock is 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.