enVVeno Medical Stock Set to Reverse Split on Tuesday, January 20th (NASDAQ:NVNO)

enVVeno Medical Corporation (NASDAQ:NVNO)’s stock is going to reverse split on the morning of Tuesday, January 20th. The 1-35 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, January 19th.

enVVeno Medical Trading Down 13.2%

Shares of NASDAQ:NVNO opened at $0.31 on Friday. enVVeno Medical has a 1-year low of $0.30 and a 1-year high of $5.62. The stock has a market capitalization of $6.34 million, a P/E ratio of -0.29 and a beta of 1.04. The business has a 50-day moving average price of $0.38 and a two-hundred day moving average price of $1.64.

enVVeno Medical (NASDAQ:NVNO) last released its earnings results on Thursday, October 30th. The company reported ($0.23) earnings per share (EPS) for the quarter. As a group, equities analysts predict that enVVeno Medical will post -1.32 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of enVVeno Medical in a report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, enVVeno Medical presently has an average rating of “Reduce”.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Jane Street Group LLC acquired a new stake in enVVeno Medical in the second quarter worth $51,000. Creative Planning bought a new stake in shares of enVVeno Medical in the 2nd quarter valued at $54,000. CM Management LLC bought a new stake in shares of enVVeno Medical in the 3rd quarter valued at $544,000. Geode Capital Management LLC raised its stake in enVVeno Medical by 1.1% during 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 period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in enVVeno Medical during the second quarter worth about $798,000. Institutional investors and hedge funds 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.