JPMorgan Chase & Co. Lowers CVRx (NASDAQ:CVRX) to Neutral

JPMorgan Chase & Co. downgraded shares of CVRx (NASDAQ:CVRX) from an overweight rating to a neutral rating in a research note released on Wednesday, MarketBeat.com reports. The brokerage currently has $13.00 price target on the stock, down from their prior price target of $36.00.

A number of other equities research analysts have also recently weighed in on the stock. Piper Sandler upped their price objective on shares of CVRx from $21.00 to $33.00 and gave the stock an overweight rating in a report on Friday, January 26th. William Blair cut 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. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $16.60.

CVRx Price Performance

Shares of CVRX opened at $9.22 on Wednesday. The stock has a market cap of $199.06 million, a PE ratio of -3.76 and a beta of 1.35. The company has a debt-to-equity ratio of 0.38, a quick ratio of 12.86 and a current ratio of 14.25. CVRx has a fifty-two week low of $7.77 and a fifty-two week high of $33.13. The firm’s 50-day simple moving average is $18.11 and its two-hundred day simple moving average is $20.90.

Insider Activity at CVRx

In related news, insider Paul Verrastro sold 2,545 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $21.91, for a total transaction of $55,760.95. Following the transaction, the insider now owns 2,455 shares in the company, valued at $53,789.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, major shareholder & Johnson Johnson sold 3,725 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $25.81, for a total transaction of $96,142.25. Following the transaction, the insider now owns 4,099,575 shares in the company, valued at $105,810,030.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Paul Verrastro sold 2,545 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $21.91, for a total transaction of $55,760.95. Following 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. 18.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Level Four Advisory Services LLC boosted its stake in shares of CVRx by 6.8% during the 4th quarter. Level Four Advisory Services LLC now owns 28,885 shares of the company’s stock worth $908,000 after acquiring an additional 1,844 shares during the last quarter. Federated Hermes Inc. purchased a new position in shares of CVRx during the 4th quarter worth $102,000. Emerald Advisers LLC boosted its stake in shares of 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 acquiring an additional 6,419 shares during the last quarter. Trexquant Investment LP purchased a new position in shares of CVRx during the 4th quarter worth $426,000. Finally, Jump Financial LLC purchased a new position in shares of CVRx during the 4th quarter worth $499,000. Hedge funds and other 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.