Neovasc (NVCN) Trading 16.9% Higher

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Neovasc Inc (NASDAQ:NVCN) (TSE:NVC) traded up 16.9% during trading on Monday . The company traded as high as $2.29 and last traded at $2.28. 1,855,658 shares changed hands during mid-day trading, an increase of 158% from the average session volume of 718,288 shares. The stock had previously closed at $1.95.

A number of equities research analysts recently commented on the company. ValuEngine upgraded Neovasc from a “hold” rating to a “buy” rating in a research report on Saturday, September 22nd. Zacks Investment Research lowered Neovasc from a “hold” rating to a “sell” rating in a research report on Tuesday, August 14th.

The stock has a market cap of $37.95 million, a P/E ratio of -0.06 and a beta of 1.44.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Gagnon Securities LLC boosted its position in Neovasc by 350.7% in the second quarter. Gagnon Securities LLC now owns 19,120,325 shares of the medical equipment provider’s stock valued at $818,000 after buying an additional 14,878,428 shares during the last quarter. Gagnon Advisors LLC boosted its position in Neovasc by 2,416.2% in the second quarter. Gagnon Advisors LLC now owns 46,032,686 shares of the medical equipment provider’s stock valued at $1,970,000 after buying an additional 44,203,204 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in Neovasc by 837.5% in the second quarter. Renaissance Technologies LLC now owns 53,754,832 shares of the medical equipment provider’s stock valued at $2,300,000 after buying an additional 48,020,900 shares during the last quarter.

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Neovasc Company Profile (NASDAQ:NVCN)

Neovasc Inc, a specialty medical device company, develops, manufactures, and markets cardiovascular devices worldwide. Its products include the Tiara technology for the transcatheter treatment of mitral valve disease; and the Neovasc Reducer for the treatment of refractory angina. The company also provides Peripatch tissue products.

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