Short Interest in enVVeno Medical Corporation (NASDAQ:NVNO) Expands By 22.3%

enVVeno Medical Corporation (NASDAQ:NVNO) was the target of a significant increase in short interest in February. As of February 13th, there was short interest totaling 82,474 shares, an increase of 22.3% from the January 29th total of 67,434 shares. Approximately 14.8% of the company’s stock are sold short. Based on an average daily volume of 24,134 shares, the days-to-cover ratio is currently 3.4 days. Based on an average daily volume of 24,134 shares, the days-to-cover ratio is currently 3.4 days. Approximately 14.8% of the company’s stock are sold short.

enVVeno Medical Trading Up 5.2%

Shares of enVVeno Medical stock traded up $0.53 on Tuesday, reaching $10.72. 3,908 shares of the company were exchanged, compared to its average volume of 23,597. The company has a market capitalization of $7.08 million, a price-to-earnings ratio of -0.28 and a beta of 1.12. enVVeno Medical has a one year low of $8.67 and a one year high of $196.70. The company has a 50-day moving average of $11.02 and a 200 day moving average of $22.22.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Jane Street Group LLC acquired a new position in shares of enVVeno Medical during the 2nd quarter worth about $51,000. Creative Planning acquired a new stake in enVVeno Medical in the 2nd quarter valued at about $54,000. ACT Capital Management LLC bought a new position in enVVeno Medical during the fourth quarter worth about $37,000. Geode Capital Management LLC increased 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 buying an additional 2,211 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in enVVeno Medical in the second quarter valued at approximately $798,000. Institutional investors own 34.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of enVVeno Medical in a research note on Monday, December 29th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce”.

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.