enVVeno Medical (NASDAQ:NVNO) Releases Earnings Results

enVVeno Medical (NASDAQ:NVNO) issued its earnings results on Thursday. The company reported ($5.76) earnings per share for the quarter, topping the consensus estimate of ($9.80) by $4.04, FiscalAI reports.

enVVeno Medical Stock Performance

Shares of NASDAQ NVNO opened at $10.59 on Friday. enVVeno Medical has a 1 year low of $8.67 and a 1 year high of $196.70. The stock’s 50-day simple moving average is $10.68 and its 200-day simple moving average is $16.98. The firm has a market cap of $6.99 million, a price-to-earnings ratio of -0.28 and a beta of 1.12.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On enVVeno Medical

Hedge funds have recently bought and sold shares of the business. Jane Street Group LLC acquired a new position in shares of enVVeno Medical in the 2nd quarter valued at approximately $51,000. Creative Planning acquired a new stake in shares of enVVeno Medical during the second quarter worth approximately $54,000. Geode Capital Management LLC increased 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 worth $796,000 after buying an additional 2,211 shares during the last quarter. Finally, Perceptive Advisors LLC bought a new stake in shares of enVVeno Medical in the second quarter worth $5,127,000. 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.