enVVeno Medical (NASDAQ:NVNO) Issues Quarterly Earnings Results

enVVeno Medical (NASDAQ:NVNO) issued its quarterly earnings data on Thursday. The company reported ($5.37) earnings per share for the quarter, missing the consensus estimate of ($4.69) by ($0.68), FiscalAI reports.

enVVeno Medical Stock Performance

NVNO traded up $0.13 during midday trading on Thursday, hitting $10.53. The company had a trading volume of 2,356 shares, compared to its average volume of 23,114. enVVeno Medical has a twelve month low of $8.67 and a twelve month high of $179.55. The company has a market capitalization of $7.05 million, a PE ratio of -0.41 and a beta of 1.09. The firm’s 50-day simple moving average is $10.69 and its 200-day simple moving average is $10.78.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Zacks Research raised enVVeno Medical to a “hold” rating in a report on Tuesday, July 7th. LADENBURG THALM/SH SH upgraded enVVeno Medical from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th. Finally, Weiss Ratings lowered enVVeno Medical from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, enVVeno Medical presently has a consensus rating of “Hold”.

Institutional Trading of enVVeno Medical

Several hedge funds have recently modified their holdings of NVNO. Geode Capital Management LLC increased its holdings in shares of enVVeno Medical by 1.1% in the second quarter. Geode Capital Management LLC now owns 199,509 shares of the company’s stock valued at $796,000 after purchasing an additional 2,211 shares in the last quarter. Jane Street Group LLC acquired a new position in enVVeno Medical during the 2nd quarter worth $51,000. Creative Planning acquired a new position in enVVeno Medical during the 2nd quarter worth $54,000. Finally, Perceptive Advisors LLC bought a new position in enVVeno Medical in the 2nd quarter valued at $5,127,000. 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.