Altium Capital Management LLC Sells 186,744 Shares of enVVeno Medical Corporation (NASDAQ:NVNO)

Key Points

• Altium Capital Management LLC has significantly reduced its stock position in enVVeno Medical Corporation by 60.2%, now holding 123,256 shares, which represents 0.8% of its total portfolio.
• Other institutions like Jane Street Group and JPMorgan Chase have either bought new positions or increased their stakes in enVVeno Medical, indicating growing interest from institutional investors.
• Analysts have downgraded enVVeno Medical's rating from "hold" to "sell" and noted that the company reported a loss of ($0.33) earnings per share for the last quarter, missing estimates.

Altium Capital Management LLC reduced its holdings in enVVeno Medical Corporation (NASDAQ:NVNO - Free Report) by 60.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 123,256 shares of the company's stock after selling 186,744 shares during the quarter. enVVeno Medical makes up approximately 0.8% of Altium Capital Management LLC's holdings, making the stock its 16th largest holding. Altium Capital Management LLC owned about 0.70% of enVVeno Medical worth $324,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of NVNO. JPMorgan Chase & Co. bought a new position in enVVeno Medical in the 4th quarter worth approximately $816,000. Westside Investment Management Inc. raised its position in enVVeno Medical by 26.4% in the 1st quarter. Westside Investment Management Inc. now owns 259,050 shares of the company's stock worth $681,000 after purchasing an additional 54,025 shares during the last quarter. Geode Capital Management LLC raised its position in enVVeno Medical by 20.6% in the 4th quarter. Geode Capital Management LLC now owns 181,737 shares of the company's stock worth $549,000 after purchasing an additional 31,061 shares during the last quarter. Dauntless Investment Group LLC bought a new position in enVVeno Medical in the 1st quarter worth approximately $186,000. Finally, Northern Trust Corp raised its position in enVVeno Medical by 68.3% in the 4th quarter. Northern Trust Corp now owns 56,725 shares of the company's stock worth $171,000 after purchasing an additional 23,029 shares during the last quarter. 34.71% of the stock is owned by institutional investors and hedge funds.

enVVeno Medical Price Performance

Shares of NVNO stock traded up $0.41 during trading hours on Friday, reaching $4.91. The company had a trading volume of 166,361 shares, compared to its average volume of 146,324. The company has a 50 day moving average of $4.48 and a 200 day moving average of $3.57. The firm has a market cap of $94.50 million, a price-to-earnings ratio of -4.09 and a beta of 1.01. enVVeno Medical Corporation has a 1-year low of $2.03 and a 1-year high of $5.70.

enVVeno Medical (NASDAQ:NVNO - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported ($0.33) earnings per share for the quarter, missing analysts' consensus estimates of ($0.28) by ($0.05). As a group, sell-side analysts forecast that enVVeno Medical Corporation will post -1.32 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded enVVeno Medical from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th.

enVVeno Medical Company Profile

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).