Alliancebernstein L.P. Trims Stock Position in CVRx, Inc. (NASDAQ:CVRX)

Alliancebernstein L.P. trimmed its holdings in shares of CVRx, Inc. (NASDAQ:CVRX) by 18.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,760 shares of the company’s stock after selling 3,910 shares during the period. Alliancebernstein L.P.’s holdings in CVRx were worth $212,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of CVRX. JPMorgan Chase & Co. grew its holdings in CVRx by 10,520.1% during the 4th quarter. JPMorgan Chase & Co. now owns 628,286 shares of the company’s stock valued at $7,960,000 after buying an additional 622,370 shares during the last quarter. Barclays PLC boosted its stake in shares of CVRx by 312.5% during the third quarter. Barclays PLC now owns 19,067 shares of the company’s stock valued at $169,000 after acquiring an additional 14,445 shares during the last quarter. Jane Street Group LLC increased its position in CVRx by 36.1% during the 3rd quarter. Jane Street Group LLC now owns 19,038 shares of the company’s stock worth $168,000 after purchasing an additional 5,053 shares in the last quarter. Geode Capital Management LLC raised its stake in CVRx by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 295,124 shares of the company’s stock valued at $2,600,000 after purchasing an additional 6,443 shares during the last quarter. Finally, State Street Corp lifted its holdings in CVRx by 11.4% in the 3rd quarter. State Street Corp now owns 264,733 shares of the company’s stock valued at $2,332,000 after purchasing an additional 27,071 shares in the last quarter. 75.27% of the stock is currently owned by institutional investors and hedge funds.

CVRx Trading Down 3.0 %

Shares of CVRX stock opened at $6.06 on Tuesday. CVRx, Inc. has a fifty-two week low of $5.87 and a fifty-two week high of $18.55. The firm’s 50 day moving average price is $11.18 and its two-hundred day moving average price is $12.78. The stock has a market cap of $157.78 million, a price-to-earnings ratio of -2.25 and a beta of 1.34. The company has a quick ratio of 10.23, a current ratio of 12.06 and a debt-to-equity ratio of 0.69.

CVRx (NASDAQ:CVRX) last announced its quarterly earnings results on Tuesday, February 4th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.06). CVRx had a negative net margin of 116.91% and a negative return on equity of 93.06%. On average, analysts anticipate that CVRx, Inc. will post -1.91 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Lake Street Capital lowered their price target on shares of CVRx from $19.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Canaccord Genuity Group reduced their price target on CVRx from $23.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. William Blair raised CVRx from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 14th. Craig Hallum increased their target price on CVRx from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Finally, Piper Sandler upped their price objective on shares of CVRx from $16.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $16.83.

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.