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

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

Analysts Set New Price Targets

Several brokerages have commented on NVNO. Zacks Research upgraded shares of enVVeno Medical to a “hold” rating in a research report on Tuesday, July 7th. Weiss Ratings downgraded shares of enVVeno Medical from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 30th. Finally, LADENBURG THALM/SH SH upgraded shares of enVVeno Medical from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 6th. 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

enVVeno Medical Stock Performance

The firm has a market cap of $7.93 million, a price-to-earnings ratio of -0.59 and a beta of 1.06. The business has a fifty day moving average of $10.88 and a two-hundred day moving average of $10.86.

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

Institutional Investors Weigh In On enVVeno Medical

A number of large investors have recently added to or reduced their stakes in the business. ACT Capital Management LLC acquired a new stake in enVVeno Medical in the 4th quarter valued at about $37,000. Jane Street Group LLC purchased a new stake in shares of enVVeno Medical in the second quarter valued at about $51,000. Creative Planning acquired a new stake in shares of enVVeno Medical in the second quarter valued at approximately $54,000. Geode Capital Management LLC increased its stake in shares of 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 in the last quarter. Finally, Perceptive Advisors LLC acquired 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.

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.