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

Vivani Medical (NASDAQ:VANI)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a report issued on Friday,Benzinga reports. They currently have a $4.00 target price on the stock. HC Wainwright’s price target points to a potential upside of 316.67% from the stock’s previous close.

Vivani Medical Price Performance

Shares of NASDAQ:VANI opened at $0.96 on Friday. The firm has a market capitalization of $56.87 million, a PE ratio of -2.13 and a beta of 2.76. Vivani Medical has a 1 year low of $0.91 and a 1 year high of $2.22. The firm’s 50-day moving average is $1.12 and its two-hundred day moving average is $1.20.

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

Institutional Investors Weigh In On Vivani Medical

Hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC acquired a new stake in Vivani Medical in the fourth quarter valued at approximately $66,000. Wealthedge Investment Advisors LLC acquired a new stake in shares of Vivani Medical in the 4th quarter valued at $43,000. Geode Capital Management LLC raised its holdings in shares of 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 in the last quarter. Finally, Northern Trust Corp grew its stake 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 purchasing an additional 11,540 shares in the last quarter. Institutional investors and hedge funds own 6.78% of the company’s stock.

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.