enVVeno Medical (NVNO) Projected to Announce Quarterly Earnings on Thursday

enVVeno Medical (NASDAQ:NVNO) is expected to issue its results before the market opens on Thursday, July 30th. Analysts expect enVVeno Medical to post earnings of ($4.69) per share and revenue of $1.00 million for the quarter.

enVVeno Medical (NASDAQ:NVNO) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($5.89) earnings per share (EPS) for the quarter, topping the consensus estimate of ($8.40) by $2.51. On average, analysts expect enVVeno Medical to post $-16 EPS for the current fiscal year and $-6 EPS for the next fiscal year.

enVVeno Medical Stock Up 5.8%

Shares of NASDAQ:NVNO opened at $10.73 on Thursday. The company has a market cap of $7.19 million, a P/E ratio of -0.42 and a beta of 1.09. enVVeno Medical has a 52 week low of $8.67 and a 52 week high of $184.45. The business has a fifty day simple moving average of $10.69 and a 200-day simple moving average of $10.87.

Analysts Set New Price Targets

A number of analysts have issued reports on NVNO shares. Zacks Research raised enVVeno Medical to a “hold” rating in a research note on Tuesday, July 7th. Weiss Ratings downgraded shares of enVVeno Medical from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 30th. Finally, LADENBURG THALM/SH SH upgraded shares of enVVeno Medical from a “hold” rating to a “strong-buy” rating in a report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, enVVeno Medical has an average rating of “Hold”.

Hedge Funds Weigh In On enVVeno Medical

A number of large investors have recently modified their holdings of NVNO. Jane Street Group LLC lifted its stake in shares of enVVeno Medical by 149.2% in the 4th quarter. Jane Street Group LLC now owns 178,855 shares of the company’s stock valued at $57,000 after purchasing an additional 107,084 shares in the last quarter. Perceptive Advisors LLC acquired a new stake in enVVeno Medical during the 2nd quarter worth approximately $5,127,000. Geode Capital Management LLC increased its position in enVVeno Medical by 1.1% during the 2nd quarter. Geode Capital Management LLC now owns 199,509 shares of the company’s stock worth $796,000 after purchasing an additional 2,211 shares in the last quarter. Finally, Creative Planning purchased a new position in enVVeno Medical in the second quarter valued at approximately $54,000. 34.71% of the stock is currently owned by hedge funds and other institutional investors.

About enVVeno Medical

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.