NVNO Stock Summary and Trading Ideas (Envveno Medical | NASDAQ:NVNO)

enVVeno Medical Corp is a medical device company focused on the development of bioprosthetic (tissue-based) devices to improve the standard of care in the treatment of venous disease. Its product, the VenoValve, is a first-in-class, surgical implant being developed for the treatment of severe deep venous Chronic Venous Insufficiency (CVI).

Envveno Medical trades on the NASDAQ stock market under the symbol NVNO.

As of May 21, 2024, NVNO stock price declined to $4.91 with 43,664 million shares trading.

NVNO has a beta of 0.26, meaning it tends to be less sensitive to market movements. NVNO has a correlation of 0.00 to the broad based SPY ETF.

NVNO has a market cap of $65.45 million. This is considered a Micro Cap stock.

The top ETF exchange traded funds that NVNO belongs to (by Net Assets): VTI, VXF, IWC.

NVNO has underperformed the market in the last year with a price return of +28.5% while the SPY ETF gained +28.5%. NVNO has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -11.1% and -3.5%, respectively, while the SPY returned +7.3% and +2.9%, respectively.

NVNO support price is $4.77 and resistance is $5.23 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that NVNO stock will trade within this expected range on the day.