enVVeno Medical (NASDAQ:NVNO) Issues Quarterly Earnings Results

enVVeno Medical (NASDAQ:NVNO) posted its quarterly earnings results on Thursday. The company reported ($5.37) EPS for the quarter, missing the consensus estimate of ($4.69) by ($0.68), FiscalAI reports.

enVVeno Medical Stock Performance

Shares of NVNO stock traded up $0.13 during trading hours on Thursday, hitting $10.53. The company had a trading volume of 2,356 shares, compared to its average volume of 23,114. enVVeno Medical has a 12 month low of $8.67 and a 12 month high of $179.55. The firm’s fifty day moving average is $10.69 and its 200 day moving average is $10.78. The firm has a market capitalization of $7.05 million, a price-to-earnings ratio of -0.41 and a beta of 1.09.

Institutional Trading of enVVeno Medical

Institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC grew its position in enVVeno Medical by 149.2% in the fourth quarter. Jane Street Group LLC now owns 178,855 shares of the company’s stock valued at $57,000 after acquiring an additional 107,084 shares during the period. Perceptive Advisors LLC bought a new position in shares of enVVeno Medical during the second quarter valued at $5,127,000. Creative Planning acquired a new stake in shares of enVVeno Medical in the 2nd quarter valued at $54,000. Finally, Geode Capital Management LLC boosted its stake in shares of enVVeno Medical by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 199,509 shares of the company’s stock valued at $796,000 after purchasing an additional 2,211 shares in the last quarter. Institutional investors and hedge funds own 34.71% of the company’s stock.

Wall Street Analyst Weigh In

NVNO has been the subject of a number of recent research reports. LADENBURG THALM/SH SH upgraded enVVeno Medical from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 6th. Zacks Research upgraded shares of enVVeno Medical to a “hold” rating in a research note on Tuesday, July 7th. Finally, Weiss Ratings downgraded shares of enVVeno Medical from a “sell (d-)” rating to a “sell (e+)” rating in a 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 company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold”.

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.