enVVeno Medical (NASDAQ:NVNO) Announces Quarterly Earnings Results, Misses Expectations By $0.68 EPS

enVVeno Medical (NASDAQ:NVNO) released its quarterly earnings results on Thursday. The company reported ($5.37) EPS for the quarter, missing analysts’ consensus estimates of ($4.69) by ($0.68), FiscalAI reports.

enVVeno Medical Stock Performance

NASDAQ NVNO traded down $0.03 during trading on Friday, hitting $10.60. 2,338 shares of the company’s stock traded hands, compared to its average volume of 22,990. The stock has a market capitalization of $7.10 million, a price-to-earnings ratio of -0.42 and a beta of 1.09. enVVeno Medical has a 12-month low of $8.67 and a 12-month high of $179.55. The business has a 50 day moving average of $10.69 and a 200-day moving average of $10.78.

Analyst Upgrades and Downgrades

Several analysts have recently commented on NVNO shares. LADENBURG THALM/SH SH upgraded shares of enVVeno Medical from a “hold” rating to a “strong-buy” rating in a report on Monday, July 6th. Zacks Research raised shares of enVVeno Medical to a “hold” rating in a research report on Tuesday, July 7th. Finally, Weiss Ratings lowered enVVeno Medical from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Jane Street Group LLC raised its holdings in enVVeno Medical by 149.2% during the 4th quarter. Jane Street Group LLC now owns 178,855 shares of the company’s stock valued at $57,000 after acquiring an additional 107,084 shares during the period. Perceptive Advisors LLC bought a new stake in shares of enVVeno Medical during the 2nd quarter valued at $5,127,000. Creative Planning purchased a new stake in enVVeno Medical during the 2nd quarter worth about $54,000. Finally, Geode Capital Management LLC boosted its stake in enVVeno Medical by 1.1% in 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. 34.71% of the stock is owned by 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.