Piper Sandler Lowers CVRx (NASDAQ:CVRX) Price Target to $15.00

CVRx (NASDAQ:CVRX) had its price objective decreased by stock analysts at Piper Sandler from $33.00 to $15.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price target points to a potential upside of 76.89% from the company’s previous close.

Several other analysts have also recently issued reports on the company. William Blair cut CVRx from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Craig Hallum began coverage on CVRx in a research report on Wednesday. They issued a “buy” rating and a $23.00 price objective on the stock. Finally, JPMorgan Chase & Co. downgraded CVRx from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $36.00 to $13.00 in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, CVRx has a consensus rating of “Moderate Buy” and a consensus target price of $16.60.

CVRx Stock Performance

CVRX stock opened at $8.48 on Wednesday. The business’s 50-day moving average is $18.39 and its two-hundred day moving average is $20.99. 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 fifty-two week low of $7.77 and a fifty-two week high of $33.13.

Insider Activity at CVRx

In related news, major shareholder & Johnson Johnson sold 3,725 shares of the business’s stock in a transaction 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 document filed with the Securities & Exchange Commission, which is available through this link. In other CVRx news, major shareholder & Johnson Johnson sold 3,725 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $25.81, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Paul Verrastro sold 2,545 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $21.91, for a total value of $55,760.95. Following the completion of the transaction, the insider now owns 2,455 shares in the company, valued at approximately $53,789.05. The disclosure for this sale can be found here. Company insiders own 18.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Kestra Advisory Services LLC purchased a new position in shares of CVRx in the 3rd quarter valued at about $462,000. Schonfeld Strategic Advisors LLC grew its stake in CVRx by 47.2% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 59,900 shares of the company’s stock worth $909,000 after buying an additional 19,200 shares during the last quarter. GSG Advisors LLC purchased a new position in CVRx during the 3rd quarter worth approximately $2,435,000. Lord Abbett & CO. LLC purchased a new position in CVRx during the 3rd quarter worth approximately $7,116,000. Finally, Emerald Advisers LLC grew its stake in CVRx by 1.3% during the 3rd 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 during the last quarter. Hedge funds and other institutional investors own 75.27% 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.