Lake Street Capital Cuts CVRx (NASDAQ:CVRX) Price Target to $18.00

CVRx (NASDAQ:CVRX) had its price objective reduced by Lake Street Capital from $35.00 to $18.00 in a research report released on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Piper Sandler cut their price objective on shares of CVRx from $33.00 to $15.00 and set an overweight rating on the stock in a research note on Wednesday. William Blair cut shares of CVRx from an outperform rating to a market perform rating in a research note on Wednesday. JPMorgan Chase & Co. cut shares of 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. Craig Hallum began coverage on shares of CVRx in a research report on Wednesday. They issued a buy rating and a $23.00 price target on the stock. Finally, Canaccord Genuity Group dropped their price target on shares of CVRx from $32.00 to $14.00 and set a buy rating on the stock in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, CVRx currently has an average rating of Moderate Buy and a consensus price target of $16.60.

CVRx Price Performance

Shares of NASDAQ CVRX opened at $9.22 on Wednesday. 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 200 day simple moving average is $20.90. The company has a quick ratio of 12.86, a current ratio of 14.25 and a debt-to-equity ratio of 0.38. The stock has a market cap of $199.06 million, a P/E ratio of -3.76 and a beta of 1.35.

Insider Activity

In other CVRx news, insider Paul Verrastro sold 2,545 shares of CVRx 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 directly owns 2,455 shares in the company, valued at approximately $53,789.05. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other 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 value of $96,142.25. Following the transaction, the insider now owns 4,099,575 shares in the company, valued at approximately $105,810,030.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Verrastro sold 2,545 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $21.91, for a total transaction of $55,760.95. Following the sale, the insider now owns 2,455 shares of the company’s stock, valued at $53,789.05. The disclosure for this sale can be found here. 18.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On CVRx

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kestra Advisory Services LLC acquired a new position in shares of CVRx in the third quarter worth $462,000. Schonfeld Strategic Advisors LLC raised its stake in shares of 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 purchasing an additional 19,200 shares in the last quarter. GSG Advisors LLC acquired a new stake in shares of CVRx during the 3rd quarter valued at about $2,435,000. Lord Abbett & CO. LLC bought a new stake in shares of CVRx in the 3rd quarter valued at approximately $7,116,000. Finally, Emerald Advisers LLC increased its holdings in CVRx by 1.3% in the third 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.