enVVeno Medical (NASDAQ:NVNO) Stock Falls 1.1% – Time to Sell?

enVVeno Medical Corporation (NASDAQ:NVNO)’s stock price dropped 1.1% on Monday. The stock traded as low as $7.75 and last traded at $8.01. 10,583 shares were traded during trading, a decline of 65% from the average session volume of 30,206 shares. The stock had previously closed at $8.10.

Analysts Set New Price Targets

Several equities analysts recently issued reports on NVNO shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of enVVeno Medical in a research note on Friday, September 25th. LADENBURG THALM/SH SH upgraded shares of enVVeno Medical from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th. Finally, Zacks Research raised shares of enVVeno Medical to a “hold” rating in a report on Tuesday, July 7th. One 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. Based on data from MarketBeat, the company currently has an average rating of “Hold”.

enVVeno Medical Stock Performance

The business’s 50 day moving average is $10.16 and its 200-day moving average is $10.57. The stock has a market cap of $5.60 million, a price-to-earnings ratio of -0.42 and a beta of 1.29.

enVVeno Medical (NASDAQ:NVNO) last posted its quarterly earnings data on Thursday, July 30th. The company reported ($5.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($4.69) by ($0.68). Sell-side analysts anticipate that enVVeno Medical Corporation will post -16.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in enVVeno Medical stock. ACT Capital Management LLC purchased a new stake in enVVeno Medical Corporation (NASDAQ:NVNO) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 115,000 shares of the company’s stock, valued at approximately $37,000. ACT Capital Management LLC owned approximately 17.42% of enVVeno Medical at the end of the most recent quarter. Hedge funds and other institutional investors own 34.71% of the company’s stock.

enVVeno Medical Company Profile

enVVeno Medical Corp. is a clinical-stage medical device company focused on developing bioprosthetic implants for the treatment of venous and cardiovascular diseases. The company’s primary focus is chronic venous insufficiency, a condition in which damaged valves in the veins impair the return of blood to the heart and can cause swelling, pain, skin changes and ulcers.

Its lead product candidate, the VenoValve, is a surgically implanted bioprosthetic venous valve designed to restore one-way blood flow in the deep veins of the lower extremities.