Short Interest in enVVeno Medical Corporation (NASDAQ:NVNO) Decreases By 78.9%

enVVeno Medical Corporation (NASDAQ:NVNO) was the recipient of a significant drop in short interest in June. As of June 15th, there was short interest totaling 14,788 shares, a drop of 78.9% from the May 31st total of 70,022 shares. Currently, 2.6% of the company’s stock are short sold. Based on an average trading volume of 7,743 shares, the days-to-cover ratio is presently 1.9 days.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of enVVeno Medical from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 15th. 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.com, the stock currently has a consensus rating of “Reduce”.

Institutional Trading of enVVeno Medical

Several institutional investors and hedge funds have recently added to or reduced their stakes in NVNO. ACT Capital Management LLC acquired a new position in enVVeno Medical in the 4th quarter valued at $37,000. Jane Street Group LLC acquired a new stake in enVVeno Medical in the second quarter valued at about $51,000. Creative Planning purchased a new stake in enVVeno Medical in the 2nd quarter valued at approximately $54,000. CM Management LLC increased its position in enVVeno Medical by 108.3% during the 4th quarter. CM Management LLC now owns 1,250,000 shares of the company’s stock worth $401,000 after purchasing an additional 650,000 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of enVVeno Medical by 1.1% in the second quarter. Geode Capital Management LLC now owns 199,509 shares of the company’s stock valued at $796,000 after buying an additional 2,211 shares in the last quarter. 34.71% of the stock is owned by hedge funds and other institutional investors.

enVVeno Medical Price Performance

Shares of NVNO traded down $0.21 during mid-day trading on Friday, reaching $10.84. The company’s stock had a trading volume of 9,898 shares, compared to its average volume of 7,593. enVVeno Medical has a 12-month low of $8.67 and a 12-month high of $196.70. The company’s 50 day moving average is $10.77 and its 200 day moving average is $10.98. The stock has a market cap of $7.26 million, a PE ratio of -0.42 and a beta of 1.10.

enVVeno Medical (NASDAQ:NVNO) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($5.89) earnings per share (EPS) for the quarter, topping the consensus estimate of ($8.40) by $2.51.

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.