Short Interest in CVRx, Inc. (NASDAQ:CVRX) Increases By 11.8%

CVRx, Inc. (NASDAQ:CVRX) saw a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 773,200 shares, a growth of 11.8% from the October 15th total of 691,800 shares. Based on an average trading volume of 81,100 shares, the short-interest ratio is currently 9.5 days. Approximately 6.1% of the shares of the company are sold short.

CVRx Stock Performance

Shares of NASDAQ CVRX traded down $0.50 during trading on Friday, hitting $17.70. 89,272 shares of the company were exchanged, compared to its average volume of 185,554. The firm’s fifty day moving average price is $14.86 and its 200 day moving average price is $15.11. The company has a debt-to-equity ratio of 0.17, a current ratio of 13.99 and a quick ratio of 12.52. CVRx has a 1 year low of $6.57 and a 1 year high of $19.94.

CVRx (NASDAQ:CVRX) last released its quarterly earnings data on Thursday, October 26th. The company reported ($0.43) EPS for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.14. CVRx had a negative net margin of 121.06% and a negative return on equity of 44.62%. The firm had revenue of $10.51 million for the quarter, compared to the consensus estimate of $9.83 million. As a group, analysts anticipate that CVRx will post -2.1 EPS for the current year.

Institutional Investors Weigh In On CVRx

Several institutional investors have recently modified their holdings of CVRX. BlackRock Inc. raised its holdings in CVRx by 1,056.2% during the second quarter. BlackRock Inc. now owns 704,342 shares of the company’s stock worth $10,875,000 after purchasing an additional 643,425 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of CVRx by 2.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 618,649 shares of the company’s stock worth $3,718,000 after buying an additional 14,173 shares in the last quarter. State Street Corp grew its stake in CVRx by 1,118.2% in the 2nd quarter. State Street Corp now owns 510,145 shares of the company’s stock valued at $7,877,000 after acquiring an additional 468,269 shares during the last quarter. Emerald Advisers LLC increased its holdings in CVRx by 1.3% during the 3rd quarter. Emerald Advisers LLC now owns 501,073 shares of the company’s stock valued at $7,601,000 after acquiring an additional 6,419 shares in the last quarter. Finally, Lord Abbett & CO. LLC purchased a new position in CVRx during the 3rd quarter valued at about $7,116,000. Hedge funds and other institutional investors own 56.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CVRX. Lake Street Capital increased their price target on shares of CVRx from $18.00 to $21.00 in a report on Wednesday, July 26th. Piper Sandler boosted their target price on CVRx from $20.00 to $21.00 in a research report on Wednesday, July 26th.

About CVRx

CVRx, Inc, a commercial-stage medical device company, focuses on developing, manufacturing, and commercializing neuromodulation solutions for patients with cardiovascular diseases. It offers Barostim, a neuromodulation device indicated to improve symptoms for patients with heart failure (HF) with reduced ejection fraction or systolic HF.