Centiva Capital LP Acquires Shares in CVRx, Inc.

On December 13, 2024, it was reported that Centiva Capital LP has acquired a new stake in CVRx, Inc. (NASDAQ:CVRX). This institutional investor purchased 20,176 shares of the company's stock during the third quarter, with a total value estimated at around $178,000.

In addition to Centiva Capital's investment, other hedge funds have also been active in the CVRx market. For instance, PDT Partners LLC has acquired a new position valued at approximately $543,000, while International Assets Investment Management LLC purchased shares worth about $338,000. SG Americas Securities LLC added a new stake valued at approximately $108,000 during the same period. Furthermore, Squarepoint Ops LLC increased its holdings in CVRx by 26.3% in the second quarter, raising its total to 91,999 shares valued at $1,103,000 after acquiring an additional 19,165 shares. Another notable investor, Marshall Wace LLP, also acquired a new stake worth approximately $495,000. Collectively, hedge funds and institutional investors hold about 75.27% of CVRx’s stock.

Analyst Outlook on CVRx

Several brokerage firms have recently issued their assessments of CVRx. Canaccord Genuity Group raised its target price for the stock from $17.00 to $22.00 and assigned a “buy” rating. Meanwhile, Piper Sandler maintained an “overweight” rating and increased its target price from $13.00 to $16.00. Cantor Fitzgerald also reiterated an “overweight” rating with a price target set at $14.00. Additionally, Craig Hallum lifted its price target to $20.00, maintaining a “buy” rating, while Lake Street Capital increased its target to $15.00. Overall, analysts exhibit a favorable outlook with two rating the stock as a hold and five suggesting a buy. According to MarketBeat data, CVRx currently enjoys a consensus rating of “Moderate Buy” and an average target price of $16.67.

CVRx Stock Overview

As of the latest trading session, CVRx's stock opened at $13.40. Over the past year, the stock has experienced a low of $6.40 and a high of $33.13. The company’s market capitalization stands at $325.14 million, with a price-to-earnings ratio of -4.96 and a beta value of 1.20. Other financial ratios include a debt-to-equity ratio of 0.76, a current ratio of 11.32, and a quick ratio of 10.23. The fifty-day moving average price is recorded as $12.52, while the 200-day moving average is $10.36.

CVRx, Inc. last announced its earnings on October 29, revealing a loss of ($0.57) earnings per share for the quarter, which was below the consensus estimate of ($0.45). Revenue during that time was reported at $13.37 million, slightly outperforming the estimate of $13.28 million. The company's negative return on equity was noted at 89.06%, with a net margin of -123.75%. In the previous year, the same quarter’s EPS was ($0.43). Research analysts are forecasting that CVRx is likely to report an EPS of -2.62 for the current fiscal year.

Company Overview

CVRx, Inc. is a commercial-stage medical device company focused on developing, manufacturing, and marketing neuromodulation solutions aimed at treating cardiovascular diseases. The company's primary product is Barostim, a neuromodulation device designed to alleviate symptoms in patients suffering from heart failure with reduced ejection fraction, also known as systolic heart failure.

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