enVVeno Medical (NASDAQ:NVNO) Upgraded to “Hold” at Zacks Research

Zacks Research upgraded shares of enVVeno Medical (NASDAQ:NVNO) to a hold rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other research analysts have also commented on NVNO. Weiss Ratings lowered shares of enVVeno Medical from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 30th. LADENBURG THALM/SH SH upgraded enVVeno Medical from a “hold” rating to a “strong-buy” rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

enVVeno Medical Stock Up 0.9%

Shares of NASDAQ:NVNO opened at $11.12 on Tuesday. enVVeno Medical has a twelve month low of $8.67 and a twelve month high of $196.70. The firm has a market capitalization of $7.45 million, a price-to-earnings ratio of -0.44 and a beta of 1.09. The stock’s 50 day moving average is $10.57 and its 200-day moving average is $10.94.

enVVeno Medical (NASDAQ:NVNO) last released its earnings results on Thursday, May 7th. The company reported ($5.89) earnings per share for the quarter, beating analysts’ consensus estimates of ($8.40) by $2.51. Equities research analysts anticipate that enVVeno Medical will post -16.19 earnings per share for the current fiscal year.

Institutional Trading of enVVeno Medical

A number of institutional investors have recently modified their holdings of NVNO. ACT Capital Management LLC purchased a new stake in enVVeno Medical in the fourth quarter worth about $37,000. Jane Street Group LLC raised its position in shares of enVVeno Medical by 149.2% in the 4th quarter. Jane Street Group LLC now owns 178,855 shares of the company’s stock worth $57,000 after acquiring an additional 107,084 shares in the last quarter. CM Management LLC lifted its stake in shares of enVVeno Medical by 108.3% in the 4th quarter. CM Management LLC now owns 1,250,000 shares of the company’s stock valued at $401,000 after purchasing an additional 650,000 shares during the period. Kingdon Capital Management L.L.C. lifted its stake in shares of enVVeno Medical by 58.2% in the 3rd quarter. Kingdon Capital Management L.L.C. now owns 1,359,261 shares of the company’s stock valued at $1,232,000 after purchasing an additional 500,000 shares during the period. Finally, Perceptive Advisors LLC bought a new stake in shares of enVVeno Medical during the second quarter valued at approximately $5,127,000. 34.71% of the stock is currently owned by hedge funds and other institutional investors.

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.