Neovasc (NVCN) has risen sharply, recording gains of 18.74% in the past 4 weeks. However, the stock has corrected -21.51% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 17.53% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
The stock has recorded a 20-day Moving Average of 4.21% and the 50-Day Moving Average is 2.91%. Neovasc (NASDAQ:NVCN): On Fridays trading session , Opening price of the stock was $0.594 with an intraday high of $0.594. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $0.53. However, the stock managed to close at $0.5494, a loss of 5.28% for the day. On the previous day, the stock had closed at $0.58. The total traded volume of the day was 1,150,971 shares.
Institutional Investors own 44.34% of Neovasc shares. Also, Equity Analysts at the Ladenburg Thalmann downgrades the rating on Neovasc (NASDAQ:NVCN). The brokerage firm has issued a Neutral rating on the shares. The shares were previously rated Buy. The rating by the firm was issued on May 20, 2016.
Neovasc Inc. is a specialty medical device company. The Company develops, manufactures and markets products for the cardiovascular marketplace. Its products include the Tiara technology in development for the transcatheter treatment of mitral valve disease, the Reducer for the treatment of refractory angina and a line of advanced biological tissue products that are used as key components in third-party medical products, including transcatheter heart valves. Its Tiara is a product for treating mitral valve disease. The Tiara is in preclinical/early clinical stage development to provide an invasive transcatheter device. The Tiara valve is made up of two components: the leaflets and skirt. It produces Peripatch, a biological tissue product that is manufactured from pericardium, which is the protective sac that surrounds the heart of an animal. It provides product development and specialized manufacturing services related to Peripatch tissue-based products.