enVVeno Medical (NASDAQ:NVNO) Shares Up 0.4% – Here’s What Happened

enVVeno Medical Corporation (NASDAQ:NVNO)’s share price was up 0.4% during mid-day trading on Tuesday . The company traded as high as $11.62 and last traded at $11.49. 4,177 shares traded hands during trading, a decline of 68% from the average daily volume of 13,112 shares. The stock had previously closed at $11.44.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on NVNO shares. Zacks Research upgraded shares of enVVeno Medical to a “hold” rating in a research report on Tuesday, July 7th. Weiss Ratings cut enVVeno Medical from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 30th. Finally, LADENBURG THALM/SH SH raised enVVeno Medical from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 6th. 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. According to data from MarketBeat, the company presently has an average rating of “Hold”.

enVVeno Medical Stock Performance

The stock’s fifty day moving average price is $10.89 and its 200-day moving average price is $10.87. The firm has a market cap of $7.67 million, a PE ratio of -0.58 and a beta of 1.06.

enVVeno Medical (NASDAQ:NVNO) last issued its earnings results on Thursday, July 30th. The company reported ($5.37) earnings per share for the quarter, missing the consensus estimate of ($4.69) by ($0.68). Sell-side analysts forecast that enVVeno Medical Corporation will post -16.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On enVVeno Medical

Hedge funds have recently bought and sold shares of the company. ACT Capital Management LLC acquired a new stake in enVVeno Medical in the fourth quarter valued at $37,000. Jane Street Group LLC boosted its position 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 worth $57,000 after buying an additional 107,084 shares in the last quarter. Perceptive Advisors LLC purchased a new stake in shares of enVVeno Medical in the 2nd quarter worth about $5,127,000. Creative Planning acquired a new stake in enVVeno Medical in the 2nd quarter valued at about $54,000. Finally, Geode Capital Management LLC grew its stake in 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 acquiring an additional 2,211 shares during the last quarter. 34.71% of the stock is owned by hedge funds and other 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.