enVVeno Medical Corporation (NASDAQ:NVNO) Short Interest Update

enVVeno Medical Corporation (NASDAQ:NVNO) was the target of a significant growth in short interest during the month of July. As of July 31st, there was short interest totaling 18,286 shares, a growth of 68.7% from the July 15th total of 10,839 shares. Based on an average trading volume of 19,970 shares, the days-to-cover ratio is presently 0.9 days. Currently, 3.1% of the company’s stock are sold short.

enVVeno Medical Trading Down 4.4%

NASDAQ NVNO traded down $0.53 during trading on Tuesday, reaching $11.28. The company’s stock had a trading volume of 5,028 shares, compared to its average volume of 16,920. The stock has a market capitalization of $7.70 million, a PE ratio of -0.59 and a beta of 1.10. enVVeno Medical has a 1-year low of $8.67 and a 1-year high of $177.39. The business has a 50-day moving average price of $10.69 and a 200-day moving average price of $10.73.

enVVeno Medical (NASDAQ:NVNO) last announced its quarterly earnings results on Thursday, July 30th. The company reported ($5.37) EPS for the quarter, missing the consensus estimate of ($4.69) by ($0.68). As a group, analysts expect that enVVeno Medical will post -16.19 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on NVNO. Zacks Research raised enVVeno Medical to a “hold” rating in a research report on Tuesday, July 7th. Weiss Ratings downgraded 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 raised enVVeno Medical from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Hedge Funds Weigh In On enVVeno Medical

Several hedge funds have recently bought and sold shares of NVNO. CM Management LLC lifted its position in shares of enVVeno Medical by 108.3% in the fourth quarter. CM Management LLC now owns 1,250,000 shares of the company’s stock worth $401,000 after buying an additional 650,000 shares during the last quarter. ACT Capital Management LLC acquired a new position in shares of enVVeno Medical during the 4th quarter valued at about $37,000. Perceptive Advisors LLC acquired a new position in shares of enVVeno Medical during the 2nd quarter valued at about $5,127,000. Geode Capital Management LLC increased its holdings 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 last quarter. Finally, Jane Street Group LLC raised 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 acquiring an additional 107,084 shares in the last quarter. 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.