Nuwellis (NUWE) stock took off on Wednesday after the medical technology company was issued a new patent by the U.S. Patent and Trademark Office. This covers its “Extracorporeal Blood Filtering Machine and Methods.” These are machines that filter blood outside of the body. They are used to treat certain medical conditions, such as sepsis and kidney failure.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
The latest patent granted to Nuwellis specifically deals with the accuracy of fluid balance calculations. It does so by taking into account the density of replacement fluids and effluent. Improper measurements can result in an error in continuous renal replacement therapy (CRRT) systems. If uncorrected, this can lead to clinically relevant fluid balance errors.
Nuwellis CEO John Erb highlighted that the new patent extended the intellectual property portfolio and is a key part of its strategy. He also said, “Each new patent reinforces our commitment to building long-term value through innovation that supports patients, clinicians, and our future growth.”
Nuwellis Stock Movement Today
Nuwellis stock was up 140.9% in pre-market trading on Wednesday, following an 11.72% drop yesterday. Investors will note the shares have fallen 85.21% year to date and 96.16% over the past 12 months. Today’s rally came with heavy trading, as some 16 million shares changed hands, compared to a three-month daily average of about 509,000 units.
Is Nuwellis Stock a Buy, Sell, or Hold?
Turning to Wall Street, only one analyst has covered Nuwellis in the past three months. Roth MKM’s Jonathan Aschoff rates NUWE stock a Buy with an $11 price target, suggesting a possible 59.54% upside.
For comparison, Spark, TipRanks’ AI analyst, rates Nuwellis a Neutral (42) with a $6.50 price target, implying a potential 5.73% downside. It said the company is “struggling with financial difficulties, as indicated by persistent losses and negative cash flows.”
