enVVeno Medical (NASDAQ:NVNO) Shares to Reverse Split on Tuesday, January 20th

enVVeno Medical Corporation (NASDAQ:NVNO)’s stock is set to reverse split on the morning of Tuesday, January 20th. The 1-35 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, January 19th.

enVVeno Medical Price Performance

NVNO stock opened at $0.31 on Friday. The company’s 50-day moving average is $0.38 and its 200-day moving average is $1.64. The stock has a market capitalization of $6.34 million, a PE ratio of -0.29 and a beta of 1.04. enVVeno Medical has a 1 year low of $0.30 and a 1 year high of $5.62.

enVVeno Medical (NASDAQ:NVNO) last issued its earnings results on Thursday, October 30th. The company reported ($0.23) EPS for the quarter. On average, analysts anticipate that enVVeno Medical will post -1.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of enVVeno Medical in a research note on Monday, December 29th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, enVVeno Medical presently has a consensus rating of “Reduce”.

Hedge Funds Weigh In On enVVeno Medical

Several institutional investors have recently modified their holdings of the business. Westside Investment Management Inc. lifted its holdings in enVVeno Medical by 7.9% during the second quarter. Westside Investment Management Inc. now owns 279,525 shares of the company’s stock worth $1,115,000 after acquiring an additional 20,475 shares during the period. Geode Capital Management LLC raised 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 during the period. Creative Planning bought a new stake in shares of enVVeno Medical during the 2nd quarter worth $54,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of enVVeno Medical in the 2nd quarter worth about $798,000. Finally, Jane Street Group LLC bought a new position in enVVeno Medical during the second quarter valued at about $51,000. 34.71% of the stock is owned by institutional investors.

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.