HC Wainwright Lowers Vivani Medical (NASDAQ:VANI) Price Target to $3.50

Vivani Medical (NASDAQ:VANI) had its price objective lowered by equities researchers at HC Wainwright from $4.00 to $3.50 in a report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price objective indicates a potential upside of 250.00% from the company’s previous close.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Vivani Medical in a research report on Friday, January 9th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Vivani Medical has a consensus rating of “Hold” and an average price target of $3.50.

Vivani Medical Stock Performance

Vivani Medical stock opened at $1.00 on Tuesday. The company has a market cap of $84.65 million, a P/E ratio of -2.33 and a beta of 2.15. Vivani Medical has a one year low of $0.91 and a one year high of $1.92. The business has a fifty day moving average of $1.23 and a two-hundred day moving average of $1.35.

Vivani Medical (NASDAQ:VANI) last posted its quarterly earnings results on Thursday, March 26th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. Sell-side analysts predict that Vivani Medical will post -0.41 EPS for the current year.

Insiders Place Their Bets

In other news, Director Gregg Williams bought 1,575,231 shares of the stock in a transaction on Sunday, March 15th. The shares were bought at an average price of $1.07 per share, with a total value of $1,685,497.17. Following the completion of the acquisition, the director owned 31,357,183 shares of the company’s stock, valued at approximately $33,552,185.81. This trade represents a 5.29% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired a total of 4,664,347 shares of company stock valued at $5,666,549 over the last quarter. 46.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Vivani Medical

Several institutional investors and hedge funds have recently made changes to their positions in the business. Tudor Investment Corp ET AL purchased a new position in shares of Vivani Medical during the 4th quarter worth approximately $1,127,000. Marshall Wace LLP purchased a new stake in Vivani Medical in the 4th quarter valued at approximately $174,000. Geode Capital Management LLC grew its holdings in Vivani Medical by 29.6% during the 4th quarter. Geode Capital Management LLC now owns 461,652 shares of the company’s stock valued at $568,000 after buying an additional 105,398 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Vivani Medical by 118.4% during the 4th quarter. Renaissance Technologies LLC now owns 97,985 shares of the company’s stock valued at $121,000 after buying an additional 53,127 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in Vivani Medical during the fourth quarter worth $60,000. 6.78% of the stock is currently owned by hedge funds and other institutional investors.

About Vivani Medical

Vivani Medical Solutions, Inc (NASDAQ: VANI) is a medical technology company focused on the design, development and commercialization of advanced specimen retrieval and hemostasis products for minimally invasive diagnostic procedures. Its core mission is to enhance procedural safety and streamline clinical workflows for interventional radiologists and pathology laboratories.

The company’s flagship offerings include the StopBleed Retrieval Device and StopBleed Pad, which integrate proprietary hemostatic materials to control bleeding at biopsy sites and preserve tissue integrity.