Vivani Medical’s (VANI) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Vivani Medical (NASDAQ:VANI) in a research report released on Wednesday morning,Benzinga reports. HC Wainwright currently has a $4.00 price target on the stock.

Vivani Medical Price Performance

Shares of VANI stock opened at $1.06 on Wednesday. The stock’s fifty day simple moving average is $1.08 and its 200 day simple moving average is $1.19. Vivani Medical has a one year low of $0.91 and a one year high of $2.09. The firm has a market cap of $62.79 million, a price-to-earnings ratio of -2.36 and a beta of 2.76.

Vivani Medical (NASDAQ:VANI) last issued its quarterly earnings results on Monday, March 31st. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). On average, research analysts anticipate that Vivani Medical will post -0.41 earnings per share for the current year.

Insider Activity at Vivani Medical

In related news, Director Gregg Williams bought 44,400 shares of Vivani Medical stock in a transaction that occurred on Monday, April 7th. The stock was purchased at an average cost of $0.99 per share, with a total value of $43,956.00. Following the purchase, the director now owns 4,799,200 shares in the company, valued at approximately $4,751,208. This trade represents a 0.93 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders bought a total of 106,240 shares of company stock worth $106,060 in the last quarter. Corporate insiders own 44.30% of the company’s stock.

Hedge Funds Weigh In On Vivani Medical

Several hedge funds and other institutional investors have recently made changes to their positions in VANI. Geode Capital Management LLC boosted its holdings in Vivani Medical by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 342,891 shares of the company’s stock valued at $401,000 after purchasing an additional 15,008 shares during the period. Jane Street Group LLC bought a new position in shares of Vivani Medical during the fourth quarter valued at $66,000. Northern Trust Corp raised its position in shares of Vivani Medical by 19.1% during the fourth quarter. Northern Trust Corp now owns 71,915 shares of the company’s stock worth $83,000 after acquiring an additional 11,540 shares during the last quarter. Finally, Wealthedge Investment Advisors LLC bought a new position in Vivani Medical during the fourth quarter worth $43,000. 6.78% of the stock is owned by institutional investors.

About Vivani Medical

Vivani Medical, Inc, a clinical stage company, develops various implants that treat chronic diseases with high unmet medical need. It engages in developing a portfolio of miniature drug implants to deliver minimally fluctuating drug profiles; and implantable visual prostheses devices to deliver useful artificial vision to blind individuals.