Westside Investment Management Inc. Reduces Stock Position in enVVeno Medical Corporation $NVNO

Westside Investment Management Inc. decreased its position in shares of enVVeno Medical Corporation (NASDAQ:NVNO) by 23.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 212,800 shares of the company’s stock after selling 66,725 shares during the quarter. Westside Investment Management Inc.’s holdings in enVVeno Medical were worth $193,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its position 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 purchasing an additional 2,211 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of enVVeno Medical during the 2nd quarter worth $51,000. Creative Planning purchased a new stake in shares of enVVeno Medical in the 2nd quarter worth about $54,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in enVVeno Medical in the 2nd quarter valued at about $798,000. Finally, Perceptive Advisors LLC purchased a new position in enVVeno Medical during the 2nd quarter valued at about $5,127,000. 34.71% of the stock is owned by hedge funds and other institutional investors.

enVVeno Medical Trading Down 8.2%

NASDAQ:NVNO opened at $9.39 on Thursday. enVVeno Medical Corporation has a 12-month low of $9.39 and a 12-month high of $196.70. The firm has a market cap of $6.20 million, a price-to-earnings ratio of -0.25 and a beta of 1.07. The company’s 50-day moving average is $11.82 and its two-hundred day moving average is $43.21.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of enVVeno Medical in a report on Monday, December 29th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, enVVeno Medical has a consensus rating of “Reduce”.

enVVeno Medical 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.