enVVeno Medical (NASDAQ:NVNO) Shares Down 1.1% – Here’s Why

enVVeno Medical Corporation (NASDAQ:NVNO)’s stock price traded down 1.1% during trading on Monday. The stock traded as low as $7.75 and last traded at $8.01. 10,583 shares traded hands during trading, a decline of 65% from the average session volume of 30,206 shares. The stock had previously closed at $8.10.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on NVNO shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of enVVeno Medical in a research note on Friday, September 25th. LADENBURG THALM/SH SH upgraded enVVeno Medical from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 6th. Finally, Zacks Research raised shares of enVVeno Medical to a “hold” rating in a research note on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, enVVeno Medical presently has a consensus rating of “Hold”.

enVVeno Medical Price Performance

The firm has a market capitalization of $5.53 million, a PE ratio of -0.41 and a beta of 1.29. The company’s fifty day simple moving average is $10.20 and its 200-day simple moving average is $10.60.

enVVeno Medical (NASDAQ:NVNO) last posted its quarterly earnings data on Thursday, July 30th. The company reported ($5.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($4.69) by ($0.68). As a group, equities research analysts anticipate that enVVeno Medical Corporation will post -16.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On enVVeno Medical

An institutional investor recently bought a new position in enVVeno Medical stock. ACT Capital Management LLC acquired a new stake in shares of enVVeno Medical Corporation (NASDAQ:NVNO) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 115,000 shares of the company’s stock, valued at approximately $37,000. ACT Capital Management LLC owned 17.42% of enVVeno Medical at the end of the most recent quarter. Institutional investors and hedge funds own 34.71% of the company’s stock.

About enVVeno Medical

enVVeno Medical Corp. is a clinical-stage medical device company focused on developing bioprosthetic implants for the treatment of venous and cardiovascular diseases. The company’s primary focus is chronic venous insufficiency, a condition in which damaged valves in the veins impair the return of blood to the heart and can cause swelling, pain, skin changes and ulcers.

Its lead product candidate, the VenoValve, is a surgically implanted bioprosthetic venous valve designed to restore one-way blood flow in the deep veins of the lower extremities.