enVVeno Medical Corporation (NASDAQ:NVNO) Short Interest Down 96.9% in January

enVVeno Medical Corporation (NASDAQ:NVNO) was the target of a large decline in short interest during the month of January. As of January 30th, there was short interest totaling 67,434 shares, a decline of 96.9% from the January 15th total of 2,142,698 shares. Based on an average daily volume of 40,994 shares, the short-interest ratio is presently 1.6 days. Approximately 12.1% of the shares of the company are short sold. Approximately 12.1% of the shares of the company are short sold. Based on an average daily volume of 40,994 shares, the short-interest ratio is presently 1.6 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of enVVeno Medical in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce”.

Hedge Funds Weigh In On enVVeno Medical

Hedge funds have recently modified their holdings of the stock. Jane Street Group LLC acquired a new position in shares of enVVeno Medical during the second quarter valued at $51,000. Creative Planning bought a new position in shares of enVVeno Medical in the 2nd quarter valued at about $54,000. Geode Capital Management LLC grew its position 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 worth $796,000 after buying an additional 2,211 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of enVVeno Medical during the second quarter worth approximately $798,000. Finally, Westside Investment Management Inc. lifted its holdings in enVVeno Medical by 7.9% in the second quarter. Westside Investment Management Inc. now owns 279,525 shares of the company’s stock valued at $1,115,000 after buying an additional 20,475 shares during the period. 34.71% of the stock is owned by institutional investors and hedge funds.

enVVeno Medical Trading Down 5.6%

NVNO opened at $9.35 on Wednesday. The stock has a market cap of $6.17 million, a PE ratio of -0.25 and a beta of 1.07. enVVeno Medical has a 1 year low of $9.11 and a 1 year high of $196.70. The stock’s 50 day simple moving average is $11.56 and its 200-day simple moving average is $37.66.

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.