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

enVVeno Medical Corporation (NASDAQ:NVNO)’s stock price was down 1.8% during trading on Wednesday . The company traded as low as $0.35 and last traded at $0.3634. Approximately 163,366 shares changed hands during mid-day 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 note on Monday, December 29th. One 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, enVVeno Medical has a consensus rating of “Reduce”.

enVVeno Medical Price Performance

The firm has a market cap of $7.35 million, a PE ratio of -0.34 and a beta of 1.04. The company has a 50-day simple moving average of $0.42 and a 200-day simple moving average of $1.78.

enVVeno Medical (NASDAQ:NVNO) last issued its quarterly earnings results on Thursday, October 30th. The company reported ($0.23) earnings per share (EPS) for the quarter. As a group, equities research analysts predict that enVVeno Medical Corporation will post -1.32 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Perceptive Advisors LLC bought a new position in enVVeno Medical during the 2nd quarter worth about $5,127,000. CM Management LLC bought a new stake in shares of enVVeno Medical in the 3rd quarter valued at about $544,000. Kingdon Capital Management L.L.C. lifted its position in shares of enVVeno Medical by 58.2% in the 3rd 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 period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in enVVeno Medical during the second quarter valued at approximately $798,000. Finally, Westside Investment Management Inc. increased its holdings in enVVeno Medical by 7.9% during 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 currently owned by 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.