enVVeno Medical Corporation (NASDAQ:NVNO) Short Interest Update

enVVeno Medical Corporation (NASDAQ:NVNO) saw a significant growth in short interest in the month of July. As of July 31st, there was short interest totaling 18,286 shares, a growth of 68.7% from the July 15th total of 10,839 shares. Based on an average daily volume of 19,970 shares, the days-to-cover ratio is presently 0.9 days. Currently, 3.1% of the shares of the company are short sold.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NVNO. LADENBURG THALM/SH SH raised enVVeno Medical from a “hold” rating to a “strong-buy” rating in a report on Monday, July 6th. Zacks Research upgraded enVVeno Medical to a “hold” rating in a research report on Tuesday, July 7th. Finally, Weiss Ratings cut enVVeno Medical from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, enVVeno Medical has an average rating of “Hold”.

enVVeno Medical Price Performance

Shares of enVVeno Medical stock traded up $1.01 on Monday, hitting $12.00. The company had a trading volume of 7,244 shares, compared to its average volume of 16,989. The business has a 50-day simple moving average of $10.66 and a 200-day simple moving average of $10.72. The company has a market cap of $8.16 million, a PE ratio of -0.62 and a beta of 1.09. enVVeno Medical has a 52 week low of $8.67 and a 52 week high of $178.15.

enVVeno Medical (NASDAQ:NVNO) last posted its quarterly earnings data on Thursday, July 30th. The company reported ($5.37) EPS for the quarter, missing analysts’ consensus estimates of ($4.69) by ($0.68). On average, equities research analysts predict that enVVeno Medical will post -16.19 earnings per share for the current fiscal year.

Institutional Trading of enVVeno Medical

Hedge funds and other institutional investors have recently modified their holdings of the company. Jane Street Group LLC acquired a new stake in shares of enVVeno Medical in the second quarter valued at $51,000. Creative Planning bought a new position in enVVeno Medical during the second quarter valued at about $54,000. ACT Capital Management LLC acquired a new position in enVVeno Medical during the fourth quarter worth about $37,000. Geode Capital Management LLC grew 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 acquiring an additional 2,211 shares during the period. Finally, CM Management LLC raised its position in enVVeno Medical by 108.3% in the fourth quarter. CM Management LLC now owns 1,250,000 shares of the company’s stock worth $401,000 after acquiring an additional 650,000 shares in the last quarter. Institutional investors 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.