CVRx, Inc. (NASDAQ:CVRX) Short Interest Down 9.8% in January

CVRx, Inc. (NASDAQ:CVRX) was the target of a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 1,840,000 shares, a drop of 9.8% from the January 15th total of 2,040,000 shares. Currently, 13.2% of the shares of the company are sold short. Based on an average daily trading volume, of 226,600 shares, the days-to-cover ratio is currently 8.1 days.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Piper Sandler lifted their target price on shares of CVRx from $16.00 to $20.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Lake Street Capital lifted their price objective on shares of CVRx from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group increased their target price on CVRx from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $14.00 price target on shares of CVRx in a research report on Wednesday, October 23rd. Finally, Craig Hallum increased their price objective on CVRx from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, January 17th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.83.

CVRx Stock Up 4.1 %

Shares of NASDAQ:CVRX opened at $15.09 on Tuesday. The company has a market cap of $366.14 million, a price-to-earnings ratio of -5.61 and a beta of 1.30. CVRx has a one year low of $6.40 and a one year high of $23.59. The firm has a fifty day moving average price of $14.74 and a two-hundred day moving average price of $12.06. The company has a debt-to-equity ratio of 0.76, a current ratio of 11.32 and a quick ratio of 10.23.

CVRx (NASDAQ:CVRX) last posted its quarterly earnings data 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 96.36%. Analysts anticipate that CVRx will post -1.89 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC lifted its position in CVRx by 43.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,900 shares of the company’s stock valued at $49,000 after purchasing an additional 1,186 shares during the last quarter. Quarry LP bought a new stake in shares of CVRx during the 4th quarter worth $69,000. MetLife Investment Management LLC bought a new stake in shares of CVRx during the 4th quarter worth $111,000. Wells Fargo & Company MN grew its position in CVRx by 86.1% in the fourth quarter. Wells Fargo & Company MN now owns 8,894 shares of the company’s stock worth $113,000 after acquiring an additional 4,115 shares in the last quarter. Finally, Boothbay Fund Management LLC purchased a new position in shares of CVRx in the 4th quarter worth about $127,000. 75.27% of the stock is currently owned by institutional investors.

CVRx Company Profile

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.