enVVeno Medical (NASDAQ:NVNO) Shares Up 0.4% – Still a Buy?

enVVeno Medical Corporation (NASDAQ:NVNO) shot up 0.4% during mid-day trading on Tuesday . The stock traded as high as $11.62 and last traded at $11.49. Approximately 4,177 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 13,112 shares. The stock had previously closed at $11.44.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on NVNO shares. Zacks Research upgraded enVVeno Medical to a “hold” rating in a research report on Tuesday, July 7th. LADENBURG THALM/SH SH upgraded enVVeno Medical from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 6th. Finally, Weiss Ratings lowered enVVeno Medical from a “sell (d-)” rating to a “sell (e+)” rating in a research report 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 MarketBeat.com, the stock has a consensus rating of “Hold”.

enVVeno Medical Trading Up 0.4%

The company has a 50 day simple moving average of $10.88 and a 200 day simple moving average of $10.86. The stock has a market capitalization of $7.93 million, a PE ratio of -0.59 and a beta of 1.06.

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

Hedge Funds Weigh In On enVVeno Medical

Institutional investors have recently bought and sold shares of the company. ACT Capital Management LLC acquired a new stake in shares of enVVeno Medical in the 4th quarter worth $37,000. Jane Street Group LLC purchased a new stake in enVVeno Medical in the 2nd quarter valued at approximately $51,000. Creative Planning acquired a new position in enVVeno Medical during the 2nd quarter worth approximately $54,000. Geode Capital Management LLC increased its position in enVVeno Medical by 1.1% during the 2nd 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 during the period. Finally, Perceptive Advisors LLC purchased a new position in shares of enVVeno Medical during the 2nd quarter worth approximately $5,127,000. 34.71% of the stock is owned by institutional investors and hedge funds.

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.