enVVeno Medical (NASDAQ:NVNO) Stock Rating Upgraded by Zacks Research

enVVeno Medical (NASDAQ:NVNO) was upgraded by equities research analysts at Zacks Research to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

NVNO has been the topic of several other reports. LADENBURG THALM/SH SH upgraded shares of enVVeno Medical from a “hold” rating to a “strong-buy” rating in a research report on Monday. 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 investment 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 has a consensus rating of “Hold”.

enVVeno Medical Price Performance

NASDAQ NVNO opened at $11.12 on Tuesday. The business has a 50 day moving average price of $10.57 and a 200 day moving average price of $10.94. The company has a market capitalization of $7.45 million, a P/E ratio of -0.44 and a beta of 1.09. enVVeno Medical has a 1-year low of $8.67 and a 1-year high of $196.70.

enVVeno Medical (NASDAQ:NVNO) last posted its earnings results on Thursday, May 7th. The company reported ($5.89) EPS for the quarter, topping analysts’ consensus estimates of ($8.40) by $2.51. On average, research analysts expect that enVVeno Medical will post -16.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. ACT Capital Management LLC purchased a new position in enVVeno Medical in the 4th quarter valued at about $37,000. Jane Street Group LLC grew its holdings in shares of enVVeno Medical by 149.2% during the fourth quarter. Jane Street Group LLC now owns 178,855 shares of the company’s stock worth $57,000 after buying an additional 107,084 shares in the last quarter. CM Management LLC raised its position in shares of enVVeno Medical by 108.3% in the fourth quarter. CM Management LLC now owns 1,250,000 shares of the company’s stock valued at $401,000 after buying an additional 650,000 shares during the last quarter. Kingdon Capital Management L.L.C. raised its position in shares of enVVeno Medical by 58.2% in the third quarter. Kingdon Capital Management L.L.C. now owns 1,359,261 shares of the company’s stock valued at $1,232,000 after buying an additional 500,000 shares during the last quarter. Finally, Perceptive Advisors LLC purchased a new position in shares of enVVeno Medical during the second quarter valued at approximately $5,127,000. Institutional investors and hedge funds own 34.71% of the company’s stock.

enVVeno Medical Company 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.