enVVeno Medical (NASDAQ:NVNO – Get Free Report) released its quarterly earnings data on Thursday. The company reported ($5.37) earnings per share for the quarter, missing the consensus estimate of ($4.69) by ($0.68), FiscalAI reports.
enVVeno Medical Stock Performance
enVVeno Medical stock traded down $0.04 during mid-day trading on Friday, reaching $10.60. The company’s stock had a trading volume of 660 shares, compared to its average volume of 16,860. enVVeno Medical has a 12 month low of $8.67 and a 12 month high of $179.55. The business’s 50 day simple moving average is $10.69 and its 200 day simple moving average is $10.78. The company has a market capitalization of $7.08 million, a price-to-earnings ratio of -0.41 and a beta of 1.09.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on NVNO shares. Zacks Research raised shares of enVVeno Medical to a “hold” rating in a report on Tuesday, July 7th. LADENBURG THALM/SH SH upgraded shares of enVVeno Medical from a “hold” rating to a “strong-buy” rating in a report on Monday, July 6th. Finally, Weiss Ratings cut shares of enVVeno Medical from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold”.
Institutional Trading of enVVeno Medical
A number of hedge funds and other institutional investors have recently modified their holdings of NVNO. Perceptive Advisors LLC acquired a new position in shares of enVVeno Medical during the 2nd quarter worth approximately $5,127,000. Geode Capital Management LLC increased its holdings in enVVeno Medical by 1.1% during the second quarter. Geode Capital Management LLC now owns 199,509 shares of the company’s stock worth $796,000 after buying an additional 2,211 shares during the last quarter. Jane Street Group LLC raised its position in enVVeno Medical by 149.2% during the fourth quarter. Jane Street Group LLC now owns 178,855 shares of the company’s stock worth $57,000 after acquiring an additional 107,084 shares in the last quarter. Finally, Creative Planning bought a new stake in enVVeno Medical during the second quarter worth $54,000. Institutional investors and hedge funds own 34.71% of the company’s stock.
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.
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