Vivani Medical (NASDAQ:VANI) Given “Buy” Rating at HC Wainwright

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

Vivani Medical Price Performance

NASDAQ:VANI opened at $1.07 on Monday. The firm’s 50-day moving average price is $1.05 and its 200-day moving average price is $1.16. The company has a market capitalization of $63.39 million, a PE ratio of -2.38 and a beta of 2.81. Vivani Medical has a 1-year low of $0.91 and a 1-year high of $2.09.

Vivani Medical (NASDAQ:VANI) last released its earnings results on Tuesday, May 13th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). Equities analysts anticipate that Vivani Medical will post -0.41 EPS for the current fiscal year.

Insider Transactions at Vivani Medical

In other news, Director Gregg Williams acquired 44,400 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The shares were bought at an average cost of $0.99 per share, with a total value of $43,956.00. Following the transaction, the director now owns 4,799,200 shares of the company’s stock, valued at $4,751,208. This trade represents a 0.93% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have acquired 121,662 shares of company stock valued at $121,636 in the last three months. 46.40% of the stock is currently owned by company insiders.

Institutional Trading of Vivani Medical

Several institutional investors have recently bought and sold shares of the company. Northern Trust Corp grew its position in Vivani Medical by 19.1% during the 4th quarter. Northern Trust Corp now owns 71,915 shares of the company’s stock valued at $83,000 after purchasing an additional 11,540 shares during the last quarter. Wealthedge Investment Advisors LLC purchased a new stake in Vivani Medical during the 4th quarter valued at about $43,000. Jane Street Group LLC purchased a new stake in Vivani Medical during the 4th quarter valued at about $66,000. Finally, Connective Capital Management LLC grew its position in Vivani Medical by 796.2% during the 1st quarter. Connective Capital Management LLC now owns 162,098 shares of the company’s stock valued at $170,000 after purchasing an additional 144,010 shares during the last quarter. 6.78% of the stock is owned by hedge funds and other institutional investors.

Vivani Medical Company Profile

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.