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

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

Institutional Investors Weigh In On enVVeno Medical

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

enVVeno Medical Stock Down 5.6%

Shares of NASDAQ:NVNO traded down $0.55 during trading on Tuesday, reaching $9.35. 7,355 shares of the company traded hands, compared to its average volume of 34,278. The firm has a market capitalization of $6.17 million, a PE ratio of -0.25 and a beta of 1.07. enVVeno Medical has a 52 week low of $9.11 and a 52 week high of $196.70. The company’s 50 day moving average is $11.56 and its two-hundred day moving average is $37.66.

Analyst Upgrades and Downgrades

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

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.