enVVeno Medical (NASDAQ:NVNO) Trading 4.2% Higher – What’s Next?

enVVeno Medical Corporation (NASDAQ:NVNO) was up 4.2% during mid-day trading on Monday . The company traded as high as $3.51 and last traded at $3.46. Approximately 252,688 shares changed hands during mid-day trading, an increase of 135% from the average daily volume of 107,405 shares. The stock had previously closed at $3.32.

enVVeno Medical Price Performance

The firm has a market cap of $44.12 million, a PE ratio of -1.99 and a beta of 1.21. The stock’s fifty day simple moving average is $4.26 and its 200-day simple moving average is $4.83.

enVVeno Medical (NASDAQ:NVNO) last issued its earnings results on Wednesday, July 31st. The company reported ($0.31) earnings per share (EPS) for the quarter. Analysts expect that enVVeno Medical Corporation will post -1.3 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC purchased a new stake in enVVeno Medical in the first quarter valued at approximately $37,000. Quadrature Capital Ltd purchased a new stake in shares of enVVeno Medical in the 1st quarter valued at $103,000. Fermata Advisors LLC increased its stake in shares of enVVeno Medical by 33.4% in the second quarter. Fermata Advisors LLC now owns 30,949 shares of the company’s stock worth $162,000 after acquiring an additional 7,751 shares during the period. Janney Montgomery Scott LLC purchased a new position in shares of enVVeno Medical during the first quarter worth $186,000. Finally, Westside Investment Management Inc. lifted its position in enVVeno Medical by 933.7% during the second quarter. Westside Investment Management Inc. now owns 38,762 shares of the company’s stock valued at $204,000 after purchasing an additional 35,012 shares during the period. 34.71% of the stock is currently owned by hedge funds and other institutional investors.

About enVVeno Medical

enVVeno Medical Corporation (Nasdaq: NVNO) is an medical device company focused on the development of innovative bioprosthetic (tissue-based) devices to improve the standard of care in the treatment of venous disease. The company’s lead product, the VenoValve®️, is a first-in-class, surgical implant being developed for the treatment of severe deep venous Chronic Venous Insufficiency (CVI).