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

CVRx, Inc. (NASDAQ:CVRXGet Free Report) was the target of a large growth in short interest in the month of May. As of May 31st, there was short interest totalling 1,110,000 shares, a growth of 26.5% from the May 15th total of 877,200 shares. Based on an average daily trading volume, of 251,000 shares, the short-interest ratio is currently 4.4 days. Currently, 10.2% of the shares of the company are sold short.

CVRx Price Performance

Shares of NASDAQ:CVRX traded up $0.76 during trading on Monday, reaching $10.96. The company had a trading volume of 504,338 shares, compared to its average volume of 220,335. The firm’s fifty day moving average is $10.91 and its 200 day moving average is $19.23. The firm has a market capitalization of $236.74 million, a PE ratio of -4.36 and a beta of 1.08. CVRx has a twelve month low of $6.40 and a twelve month high of $33.13. The company has a debt-to-equity ratio of 0.44, a quick ratio of 10.87 and a current ratio of 12.18.

CVRx (NASDAQ:CVRXGet Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The company reported ($1.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.51). The company had revenue of $10.77 million during the quarter, compared to analyst estimates of $11.60 million. CVRx had a negative return on equity of 66.05% and a negative net margin of 123.58%. On average, equities analysts forecast that CVRx will post -2.39 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. William Blair lowered shares of CVRx from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 1st. Piper Sandler reduced their target price on shares of CVRx from $33.00 to $15.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. Lake Street Capital reduced their target price on shares of CVRx from $35.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Craig Hallum started coverage on shares of CVRx in a research note on Wednesday, May 1st. They set a “buy” rating and a $23.00 target price for the company. Finally, JPMorgan Chase & Co. lowered shares of CVRx from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $36.00 to $13.00 in a research note on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, CVRx presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.60.

Read Our Latest Stock Report on CVRX

Institutional Trading of CVRx

A number of institutional investors have recently made changes to their positions in the stock. Kestra Advisory Services LLC bought a new stake in shares of CVRx in the 3rd quarter worth approximately $462,000. Jump Financial LLC bought a new stake in shares of CVRx in the 4th quarter worth approximately $499,000. Trexquant Investment LP bought a new stake in shares of CVRx in the 4th quarter worth approximately $426,000. Federated Hermes Inc. bought a new stake in shares of CVRx in the 4th quarter worth approximately $102,000. Finally, Schonfeld Strategic Advisors LLC raised its holdings in shares of CVRx by 47.2% in 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. 75.27% of the stock is owned by institutional investors and hedge funds.

About CVRx

(Get Free Report)

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.

Further Reading

Receive News & Ratings for CVRx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVRx and related companies with MarketBeat.com's FREE daily email newsletter.