enVVeno Medical (NASDAQ:NVNO) Posts Earnings Results, Beats Expectations By $4.04 EPS

enVVeno Medical (NASDAQ:NVNO) issued its quarterly earnings results on Thursday. The company reported ($5.76) earnings per share for the quarter, topping analysts’ consensus estimates of ($9.80) by $4.04, FiscalAI reports.

enVVeno Medical Price Performance

NASDAQ:NVNO opened at $10.51 on Friday. The company has a market capitalization of $6.89 million, a P/E ratio of -0.28 and a beta of 1.12. The business has a fifty day simple moving average of $10.71 and a two-hundred day simple moving average of $17.09. enVVeno Medical has a 1 year low of $8.67 and a 1 year high of $196.70.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NVNO. Jane Street Group LLC purchased a new stake in enVVeno Medical in the 2nd quarter worth about $51,000. Creative Planning purchased a new stake in enVVeno Medical during the second quarter valued at about $54,000. Geode Capital Management LLC boosted its position in 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. Finally, Perceptive Advisors LLC bought a new position in enVVeno Medical during the second quarter worth about $5,127,000. Institutional investors own 34.71% of the company’s stock.

Analyst Ratings Changes

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

About enVVeno Medical

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.