CVRX is trading at its lowest level since October
CVRx Inc (NASDAQ:CVRX) stock is on track for its worst single session ever, down 43.3% to trade at $9.75 at last glance, after news that the medical device company's post-market phase trial of its chronic heart failure therapy, Barostim, did not reach its primary goal.
CVRX has only been publicly traded for a little over a year, and is now trading at its lowest level since October. Plus, the stock is now gapping below long-term support at its 80-day moving average. Year-over-year, the equity is still up 32.5%.
Analysts are wholeheartedly bullish on CVRx stock, with all six in coverage carrying a "strong buy" rating. Plus, the 12-month consensus price target of $20.25 is a 90.9% premium to current levels.