Medical Device Stock Eyes Worst Day Ever

The company's chronic heart failure therapy failed to meet its main goal

Deputy Editor
Feb 21, 2023 at 10:53 AM
facebook twitter linkedin

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. 



Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 


300x250 - Banner 3 - v1