enVVeno Medical (NVNO) Expected to Announce Quarterly Earnings on Thursday

enVVeno Medical (NASDAQ:NVNO) is anticipated to post its results before the market opens on Thursday, July 30th. Analysts expect enVVeno Medical to post earnings of ($4.69) per share and revenue of $1.00 million for the quarter.

enVVeno Medical (NASDAQ:NVNO) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($5.89) EPS for the quarter, topping the consensus estimate of ($8.40) by $2.51. On average, analysts expect enVVeno Medical to post $-16 EPS for the current fiscal year and $-6 EPS for the next fiscal year.

enVVeno Medical Stock Down 2.5%

NVNO opened at $10.40 on Wednesday. The company has a market capitalization of $6.97 million, a PE ratio of -0.41 and a beta of 1.09. The firm has a 50-day simple moving average of $10.71 and a two-hundred day simple moving average of $10.80. enVVeno Medical has a 52 week low of $8.67 and a 52 week high of $184.04.

Hedge Funds Weigh In On enVVeno Medical

A number of institutional investors and hedge funds have recently made changes to their positions in NVNO. Geode Capital Management LLC increased its holdings in shares of enVVeno Medical by 1.1% in the 2nd 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. Creative Planning bought a new position in shares of enVVeno Medical in the 2nd quarter valued at about $54,000. Jane Street Group LLC bought a new position in shares of enVVeno Medical in the 2nd quarter valued at about $51,000. Finally, Perceptive Advisors LLC purchased a new position in enVVeno Medical in the second quarter worth about $5,127,000. 34.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on NVNO shares. Zacks Research upgraded enVVeno Medical to a “hold” rating in a research report on Tuesday, July 7th. Weiss Ratings cut enVVeno Medical from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 30th. Finally, LADENBURG THALM/SH SH raised enVVeno Medical from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, enVVeno Medical has a consensus rating of “Hold”.

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.