Vivani Medical’s (VANI) Buy Rating Reaffirmed at HC Wainwright

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

Vivani Medical Stock Up 0.9%

VANI opened at $1.16 on Tuesday. Vivani Medical has a twelve month low of $0.91 and a twelve month high of $1.80. The company has a fifty day moving average of $1.35 and a 200-day moving average of $1.18. The stock has a market cap of $68.72 million, a PE ratio of -2.58 and a beta of 3.12.

Vivani Medical (NASDAQ:VANI) last issued its earnings results on Wednesday, August 13th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.02). Sell-side analysts anticipate that Vivani Medical will post -0.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of VANI. Northern Trust Corp boosted its stake in 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 in the last quarter. Jane Street Group LLC bought a new position in Vivani Medical during the fourth quarter worth $66,000. Wealthedge Investment Advisors LLC bought a new position in shares of Vivani Medical in the fourth quarter valued at $43,000. Connective Capital Management LLC lifted its stake in shares of Vivani Medical by 796.2% in the first quarter. Connective Capital Management LLC now owns 162,098 shares of the company’s stock valued at $170,000 after buying an additional 144,010 shares in the last quarter. Finally, Panagora Asset Management Inc. bought a new position in shares of Vivani Medical in the second quarter valued at $25,000. 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.