Short Interest in enVVeno Medical Corporation (NASDAQ:NVNO) Decreases By 65.4%

enVVeno Medical Corporation (NASDAQ:NVNO) was the target of a significant decline in short interest in August. As of August 31st, there was short interest totaling 8,442 shares, a decline of 65.4% from the August 15th total of 24,403 shares. Based on an average daily trading volume, of 16,811 shares, the days-to-cover ratio is currently 0.5 days. Approximately 1.4% of the company’s stock are sold short.

Analysts Set New Price Targets

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

enVVeno Medical Price Performance

Shares of NVNO traded down $1.11 during mid-day trading on Monday, reaching $9.38. The company’s stock had a trading volume of 90,911 shares, compared to its average volume of 22,637. enVVeno Medical has a 12-month low of $8.67 and a 12-month high of $35.70. The stock has a market cap of $6.47 million, a PE ratio of -0.49 and a beta of 1.06. The company’s 50 day moving average is $10.83 and its 200 day moving average is $10.84.

enVVeno Medical (NASDAQ:NVNO) last posted 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). As a group, sell-side analysts anticipate that enVVeno Medical will post -16.19 EPS for the current fiscal year.

Institutional Trading of enVVeno Medical

An institutional investor recently bought a new position in enVVeno Medical stock. ACT Capital Management LLC purchased a new position in shares of enVVeno Medical Corporation (NASDAQ:NVNO) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 115,000 shares of the company’s stock, valued at approximately $37,000. ACT Capital Management LLC owned approximately 17.42% of enVVeno Medical at the end of the most recent reporting period. Hedge funds and other institutional investors own 34.71% of the company’s stock.

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.