enVVeno Medical (NASDAQ:NVNO) Shares Up 6.4% – Should You Buy?

enVVeno Medical Corporation (NASDAQ:NVNO) traded up 6.4% during mid-day trading on Thursday . The company traded as high as $3.85 and last traded at $3.82. 137,510 shares changed hands during trading, an increase of 24% from the average session volume of 111,185 shares. The stock had previously closed at $3.59.

enVVeno Medical Price Performance

The firm’s fifty day simple moving average is $3.20 and its 200 day simple moving average is $3.75. The company has a market capitalization of $66.13 million, a PE ratio of -2.92 and a beta of 1.22.

Institutional Trading of enVVeno Medical

A number of hedge funds have recently modified their holdings of the stock. Sanctuary Advisors LLC acquired a new position in enVVeno Medical in the fourth quarter valued at approximately $39,000. Jane Street Group LLC purchased a new position in shares of enVVeno Medical during the 4th quarter valued at approximately $56,000. National Bank of Canada FI acquired a new position in shares of enVVeno Medical in the 4th quarter valued at $60,000. Virtu Financial LLC purchased a new stake in enVVeno Medical during the fourth quarter worth $86,000. Finally, Fermata Advisors LLC grew its position in enVVeno Medical by 18.1% during the fourth quarter. Fermata Advisors LLC now owns 35,706 shares of the company’s stock valued at $108,000 after buying an additional 5,481 shares during the period. Hedge funds and other institutional investors own 34.71% of the company’s stock.

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).