Key Points
- CVRx COO Brent Binkowski bought 26,223 shares at an average price of $2.91, spending $76,308.93 and increasing his direct stake by 86.57% to 56,514 shares. He had sold 1,309 shares for $3,337.95 the previous day.
- CVRx shares opened at $2.94 after rising 7.7%, but the stock remains sharply below its 52-week high of $11.30. The company reported a quarterly loss of $0.53 per share, slightly missing estimates, while revenue of $15.71 million exceeded expectations.
- Analyst sentiment has weakened: several firms downgraded CVRx to “hold” or “sell,” producing a consensus “Hold” rating and a $6.90 target price. Institutional investors own 75.27% of the company, with BlackRock recently making a $6.4 million investment.
CVRx, Inc. (NASDAQ:CVRX - Get Free Report) COO Brent Binkowski purchased 26,223 shares of the company's stock in a transaction that occurred on Thursday, August 13th. The shares were purchased at an average price of $2.91 per share, with a total value of $76,308.93. Following the completion of the transaction, the chief operating officer directly owned 56,514 shares of the company's stock, valued at $164,455.74. This represents a 86.57% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Brent Binkowski also recently made the following trade(s):
- On Wednesday, August 12th, Brent Binkowski sold 1,309 shares of CVRx stock. The shares were sold at an average price of $2.55, for a total value of $3,337.95.
CVRx Trading Up 7.7%
Shares of CVRX opened at $2.94 on Friday. CVRx, Inc. has a 52-week low of $2.20 and a 52-week high of $11.30. The company has a quick ratio of 6.87, a current ratio of 8.04 and a debt-to-equity ratio of 2.94. The firm's fifty day moving average is $4.96 and its two-hundred day moving average is $6.40. The stock has a market cap of $78.32 million, a PE ratio of -1.48 and a beta of 0.81.
CVRx (NASDAQ:CVRX - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.52) by ($0.01). The business had revenue of $15.71 million for the quarter, compared to analysts' expectations of $15.55 million. CVRx had a negative return on equity of 152.35% and a negative net margin of 84.93%. Research analysts forecast that CVRx, Inc. will post -1.97 earnings per share for the current fiscal year.
Institutional Investors Weigh In On CVRx
A number of hedge funds have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of CVRx in the second quarter valued at about $6,402,000. Deutsche Bank AG purchased a new position in CVRx during the second quarter worth about $62,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in CVRx in the 2nd quarter valued at about $107,000. Bank of New York Mellon Corp acquired a new position in CVRx in the 2nd quarter valued at about $199,000. Finally, GSA Capital Partners LLP acquired a new position in CVRx in the 2nd quarter valued at about $259,000. Hedge funds and other institutional investors own 75.27% of the company's stock.
Analyst Upgrades and Downgrades
CVRX has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of CVRx from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. Piper Sandler cut CVRx from an "overweight" rating to a "neutral" rating and set a $4.00 target price on the stock. in a report on Friday, August 7th. Craig Hallum cut CVRx from a "buy" rating to a "hold" rating and set a $4.00 target price on the stock. in a report on Friday, August 7th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of CVRx in a report on Monday, August 3rd. Finally, Lake Street Capital downgraded CVRx from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $14.00 to $3.50 in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, CVRx has a consensus rating of "Hold" and a consensus target price of $6.90.
Get Our Latest Report on CVRX
CVRx Company Profile
(
Get Free Report)
CVRx, Inc is a clinical-stage medical device company focused on developing a neuromodulation platform therapy for patients with cardiovascular disease. The company's flagship product, the Barostim™ system, delivers targeted electrical stimulation to the carotid baroreceptors with the goal of modulating the body's natural blood pressure control mechanisms. This minimally invasive, implantable therapy is designed to address unmet needs in individuals suffering from hypertension and heart failure.
The Barostim system is currently being evaluated in multiple clinical trials, including studies in resistant hypertension and advanced heart failure.
Further Reading
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