enVVeno Medical (NASDAQ:NVNO) Releases Earnings Results, Beats Estimates By $2.51 EPS

enVVeno Medical (NASDAQ:NVNO) announced its earnings results on Thursday. The company reported ($5.89) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($8.40) by $2.51, Zacks reports.

enVVeno Medical Price Performance

Shares of NVNO traded up $0.15 during mid-day trading on Thursday, reaching $10.22. 4,138 shares of the company’s stock were exchanged, compared to its average volume of 18,563. The stock has a market capitalization of $6.75 million, a PE ratio of -0.27 and a beta of 1.08. The business’s fifty day simple moving average is $11.16 and its 200-day simple moving average is $13.20. enVVeno Medical has a 52-week low of $8.67 and a 52-week high of $196.70.

Hedge Funds Weigh In On enVVeno Medical

Hedge funds have recently modified their holdings of the business. Perceptive Advisors LLC acquired a new stake in shares of enVVeno Medical during the second quarter worth $5,127,000. Geode Capital Management LLC lifted its holdings in shares of 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 during the period. Jane Street Group LLC lifted 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 purchasing an additional 107,084 shares during the period. Finally, Creative Planning acquired a new stake in shares of enVVeno Medical during the second quarter worth $54,000. 34.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of enVVeno Medical in a research report on Friday, March 27th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, enVVeno Medical currently has an average rating of “Reduce”.

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.