enVVeno Medical Corporation (NASDAQ:NVNO) Short Interest Update

enVVeno Medical Corporation (NASDAQ:NVNO) was the recipient of a significant decline in short interest during the month of June. As of June 15th, there was short interest totaling 14,788 shares, a decline of 78.9% from the May 31st total of 70,022 shares. Based on an average trading volume of 7,743 shares, the short-interest ratio is currently 1.9 days. Currently, 2.6% of the shares of the stock are short sold.

enVVeno Medical Stock Up 2.5%

NVNO traded up $0.27 during midday trading on Monday, hitting $11.11. 364 shares of the company were exchanged, compared to its average volume of 16,119. The firm’s 50 day moving average price is $10.77 and its 200-day moving average price is $10.98. enVVeno Medical has a 1-year low of $8.67 and a 1-year high of $196.70. The firm has a market capitalization of $7.42 million, a P/E ratio of -0.44 and a beta of 1.10.

enVVeno Medical (NASDAQ:NVNO) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($5.89) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($8.40) by $2.51.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of enVVeno Medical from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 15th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce”.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. ACT Capital Management LLC bought a new stake in shares of enVVeno Medical during the 4th quarter valued at about $37,000. Jane Street Group LLC bought a new position in shares of enVVeno Medical during the 2nd quarter worth approximately $51,000. Creative Planning acquired a new stake in shares of enVVeno Medical during the 2nd quarter worth approximately $54,000. CM Management LLC increased its stake in shares of enVVeno Medical by 108.3% in the 4th quarter. CM Management LLC now owns 1,250,000 shares of the company’s stock valued at $401,000 after acquiring an additional 650,000 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of enVVeno Medical by 1.1% during the 2nd quarter. Geode Capital Management LLC now owns 199,509 shares of the company’s stock valued at $796,000 after acquiring an additional 2,211 shares during the period. 34.71% of the stock is owned by institutional investors.

enVVeno Medical Company Profile

enVVeno Medical, Inc is a clinical?stage medical device company focused on the development and commercialization of subcutaneous vascular access systems for patients requiring repeated or long?term intravenous therapy. Through its proprietary Freedom® platform, the company aims to offer an implantable alternative to traditional peripherally inserted central catheters (PICCs) and external tunneled catheters, addressing complications such as infection risk, dislodgement and patient discomfort.

The company’s lead product candidate, the Freedom PICC System, consists of a low?profile, subcutaneous port connected to a flexible catheter designed for peripheral insertion.