Short Interest in enVVeno Medical Corporation (NASDAQ:NVNO) Expands By 22.3%

enVVeno Medical Corporation (NASDAQ:NVNO) was the recipient of a significant increase in short interest during the month of February. As of February 13th, there was short interest totaling 82,474 shares, an increase of 22.3% from the January 29th total of 67,434 shares. Currently, 14.8% of the company’s shares are sold short. Based on an average daily trading volume, of 24,134 shares, the short-interest ratio is presently 3.4 days. Based on an average daily trading volume, of 24,134 shares, the short-interest ratio is presently 3.4 days. Currently, 14.8% of the company’s shares are sold short.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of enVVeno Medical in a research report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

enVVeno Medical Stock Up 5.2%

Shares of NVNO traded up $0.53 on Tuesday, hitting $10.72. The company’s stock had a trading volume of 3,908 shares, compared to its average volume of 23,597. The firm has a market capitalization of $7.08 million, a price-to-earnings ratio of -0.28 and a beta of 1.12. The firm’s fifty day moving average price is $11.02 and its 200-day moving average price is $22.22. enVVeno Medical has a fifty-two week low of $8.67 and a fifty-two week high of $196.70.

Hedge Funds Weigh In On enVVeno Medical

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its stake in shares of enVVeno Medical by 1.1% in the 2nd 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 during the period. Jane Street Group LLC bought a new position in shares of enVVeno Medical during the second quarter worth about $51,000. Creative Planning bought a new position in shares of enVVeno Medical during the second quarter worth about $54,000. Westside Investment Management Inc. lifted its stake in enVVeno Medical by 7.9% in the 2nd quarter. Westside Investment Management Inc. now owns 279,525 shares of the company’s stock valued at $1,115,000 after acquiring an additional 20,475 shares in the last quarter. Finally, ACT Capital Management LLC acquired a new position in enVVeno Medical during the 4th quarter worth approximately $37,000. 34.71% of the stock is owned by institutional investors and hedge funds.

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.