enVVeno Medical (NASDAQ:NVNO) Upgraded at Zacks Research

enVVeno Medical (NASDAQ:NVNO) was upgraded by analysts at Zacks Research to a “hold” rating in a report released on Tuesday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on the company. LADENBURG THALM/SH SH raised enVVeno Medical from a “hold” rating to a “strong-buy” rating in a research report on Monday. Weiss Ratings downgraded 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 issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

enVVeno Medical Stock Performance

enVVeno Medical stock opened at $11.12 on Tuesday. enVVeno Medical has a 1 year low of $8.67 and a 1 year high of $196.70. The firm has a 50 day moving average price of $10.57 and a 200 day moving average price of $10.94. The company has a market cap of $7.45 million, a price-to-earnings ratio of -0.44 and a beta of 1.09.

enVVeno Medical (NASDAQ:NVNO) last released its quarterly earnings data on Thursday, May 7th. The company reported ($5.89) EPS for the quarter, topping analysts’ consensus estimates of ($8.40) by $2.51. Sell-side analysts predict that enVVeno Medical will post -16.19 EPS for the current year.

Institutional Investors Weigh In On enVVeno Medical

Large investors have recently modified their holdings of the stock. Kingdon Capital Management L.L.C. lifted its position in enVVeno Medical by 58.2% during the 3rd quarter. Kingdon Capital Management L.L.C. now owns 1,359,261 shares of the company’s stock worth $1,232,000 after acquiring an additional 500,000 shares in the last quarter. Perceptive Advisors LLC acquired a new stake in enVVeno Medical in the second quarter valued at approximately $5,127,000. CM Management LLC grew its position in enVVeno Medical by 108.3% in the fourth quarter. CM Management LLC now owns 1,250,000 shares of the company’s stock valued at $401,000 after acquiring an additional 650,000 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of enVVeno Medical by 1.1% during the second quarter. Geode Capital Management LLC now owns 199,509 shares of the company’s stock valued at $796,000 after purchasing an additional 2,211 shares during the period. Finally, Jane Street Group LLC raised its stake in shares of enVVeno Medical by 149.2% during the fourth quarter. Jane Street Group LLC now owns 178,855 shares of the company’s stock valued at $57,000 after purchasing an additional 107,084 shares during the period. Institutional investors and hedge funds own 34.71% of the company’s stock.

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.