enVVeno Medical (NASDAQ:NVNO) Upgraded to “Strong-Buy” at LADENBURG THALM/SH SH

LADENBURG THALM/SH SH upgraded shares of enVVeno Medical (NASDAQ:NVNO) from a hold rating to a strong-buy rating in a research report released on Monday,Zacks.com reports.

Separately, Weiss Ratings downgraded enVVeno Medical from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, enVVeno Medical has an average rating of “Moderate Buy”.

enVVeno Medical Stock Up 3.3%

NVNO traded up $0.36 during trading on Monday, hitting $11.46. The company had a trading volume of 10,922 shares, compared to its average volume of 15,843. The company has a market capitalization of $7.68 million, a PE ratio of -0.44 and a beta of 1.09. enVVeno Medical has a one year low of $8.67 and a one year high of $196.70. The firm’s 50-day moving average price is $10.62 and its 200 day moving average price is $10.95.

enVVeno Medical (NASDAQ:NVNO) last released its earnings results on Thursday, May 7th. The company reported ($5.89) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($8.40) by $2.51.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. ACT Capital Management LLC acquired a new stake in enVVeno Medical in the 4th quarter valued at $37,000. Jane Street Group LLC bought a new position in shares of enVVeno Medical in the 2nd quarter valued at about $51,000. Creative Planning acquired a new stake in shares of enVVeno Medical in the second quarter valued at about $54,000. CM Management LLC increased its position in shares of 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 during the last quarter. Finally, Geode Capital Management LLC increased its position 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 acquiring an additional 2,211 shares during the last quarter. Institutional investors own 34.71% of the company’s stock.

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.