enVVeno Medical (NASDAQ:NVNO) Stock Price Down 1.8% – What’s Next?

enVVeno Medical Corporation (NASDAQ:NVNO)’s stock price dropped 1.8% on Wednesday . The company traded as low as $0.35 and last traded at $0.3634. Approximately 163,366 shares were traded during trading, a decline of 60% from the average daily volume of 412,746 shares. The stock had previously closed at $0.37.

Analyst Ratings Changes

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

enVVeno Medical Price Performance

The business’s fifty day moving average price is $0.41 and its 200-day moving average price is $1.74. The stock has a market capitalization of $7.28 million, a PE ratio of -0.33 and a beta of 1.04.

enVVeno Medical (NASDAQ:NVNO) last posted its earnings results on Thursday, October 30th. The company reported ($0.23) earnings per share for the quarter. On average, analysts expect that enVVeno Medical Corporation will post -1.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On enVVeno Medical

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Perceptive Advisors LLC purchased a new position in enVVeno Medical in the second quarter worth $5,127,000. CM Management LLC purchased a new stake in enVVeno Medical during the third quarter valued at about $544,000. Kingdon Capital Management L.L.C. lifted its stake in enVVeno Medical by 58.2% during the third quarter. Kingdon Capital Management L.L.C. now owns 1,359,261 shares of the company’s stock worth $1,232,000 after purchasing an additional 500,000 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in enVVeno Medical in the second quarter worth approximately $798,000. Finally, Westside Investment Management Inc. boosted its stake in enVVeno Medical by 7.9% in the second quarter. Westside Investment Management Inc. now owns 279,525 shares of the company’s stock worth $1,115,000 after buying an additional 20,475 shares in the last quarter. 34.71% of the stock is currently owned by hedge funds and other institutional investors.

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.