Centiva Capital LP Makes New $178,000 Investment in CVRx, Inc. (NASDAQ:CVRX)

Centiva Capital LP bought a new position in shares of CVRx, Inc. (NASDAQ:CVRX) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 20,176 shares of the company’s stock, valued at approximately $178,000. Centiva Capital LP owned 0.08% of CVRx as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new position in shares of CVRx in the 3rd quarter valued at $108,000. Rhumbline Advisers boosted its stake in shares of CVRx by 28.8% during the 2nd quarter. Rhumbline Advisers now owns 17,260 shares of the company’s stock worth $207,000 after acquiring an additional 3,863 shares in the last quarter. Dimensional Fund Advisors LP purchased a new position in CVRx in the 2nd quarter valued at about $218,000. International Assets Investment Management LLC purchased a new position in CVRx in the 3rd quarter valued at about $338,000. Finally, Bank of New York Mellon Corp lifted its stake in CVRx by 30.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 37,191 shares of the company’s stock valued at $446,000 after buying an additional 8,741 shares in the last quarter. Hedge funds and other institutional investors own 75.27% of the company’s stock.

Analyst Upgrades and Downgrades

CVRX has been the topic of a number of research reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $14.00 target price on shares of CVRx in a research note on Wednesday, October 23rd. Canaccord Genuity Group raised their price target on shares of CVRx from $17.00 to $22.00 and gave the stock a “buy” rating in a report on Monday. Lake Street Capital raised their price target on shares of CVRx from $12.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Piper Sandler restated an “overweight” rating and set a $16.00 price target (up previously from $13.00) on shares of CVRx in a report on Wednesday, October 30th. Finally, Craig Hallum raised their price target on shares of CVRx from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.67.

CVRx Stock Performance

NASDAQ CVRX opened at $13.40 on Friday. 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, Inc. has a 1 year low of $6.40 and a 1 year high of $33.13. The company has a market capitalization of $325.14 million, a PE ratio of -4.96 and a beta of 1.20. The company has a fifty day moving average of $12.52 and a two-hundred day moving average of $10.36.

CVRx (NASDAQ:CVRX) last released its quarterly earnings data on Tuesday, October 29th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.45) by ($0.12). CVRx had a negative net margin of 123.75% and a negative return on equity of 89.06%. The company had revenue of $13.37 million during the quarter, compared to analyst estimates of $13.28 million. During the same quarter in the prior year, the company earned ($0.43) EPS. As a group, analysts expect that CVRx, Inc. will post -2.62 earnings per share for the current year.

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.