Wells Fargo & Company MN Purchases 4,115 Shares of CVRx, Inc. (NASDAQ:CVRX)

Wells Fargo & Company MN lifted its position in CVRx, Inc. (NASDAQ:CVRX) by 86.1% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 8,894 shares of the company’s stock after purchasing an additional 4,115 shares during the period. Wells Fargo & Company MN’s holdings in CVRx were worth $113,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in CVRX. JPMorgan Chase & Co. boosted its holdings in CVRx by 10,520.1% in the fourth quarter. JPMorgan Chase & Co. now owns 628,286 shares of the company’s stock valued at $7,960,000 after acquiring an additional 622,370 shares in the last quarter. Barclays PLC boosted its holdings in CVRx by 312.5% in 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 in the last quarter. Jane Street Group LLC boosted its holdings in CVRx by 36.1% in the third quarter. Jane Street Group LLC now owns 19,038 shares of the company’s stock valued at $168,000 after acquiring an additional 5,053 shares in the last quarter. Calamos Advisors LLC bought a new stake in shares of CVRx during the 4th quarter valued at $134,000. Finally, Geode Capital Management LLC boosted its holdings in shares of CVRx by 9.8% during the 4th quarter. Geode Capital Management LLC now owns 323,931 shares of the company’s stock valued at $4,105,000 after buying an additional 28,807 shares in the last quarter. Institutional investors own 75.27% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Lake Street Capital dropped their target price on shares of CVRx from $19.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Piper Sandler dropped their target price on shares of CVRx from $20.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday. Canaccord Genuity Group dropped their target price on shares of CVRx from $23.00 to $18.00 and set a “buy” rating on the stock in a report 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. Finally, Craig Hallum lifted their price target on CVRx from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CVRx currently has an average rating of “Moderate Buy” and an average target price of $14.50.

CVRx Stock Performance

CVRX stock opened at $4.70 on Monday. The company has a quick ratio of 10.23, a current ratio of 12.06 and a debt-to-equity ratio of 0.69. The business’s fifty day simple moving average is $9.29 and its two-hundred day simple moving average is $12.62. CVRx, Inc. has a twelve month low of $4.61 and a twelve month high of $18.55. The firm has a market cap of $122.47 million, a price-to-earnings ratio of -1.75 and a beta of 1.39.

CVRx (NASDAQ:CVRX) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.53) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.03. CVRx had a negative return on equity of 93.06% and a negative net margin of 116.91%. The company had revenue of $12.35 million for the quarter, compared to the consensus estimate of $14.68 million. Analysts predict that CVRx, Inc. will post -1.91 earnings per share for the current year.

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.