Vivani Medical (NASDAQ:VANI) Earns “Buy” Rating from HC Wainwright

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

Vivani Medical Stock Performance

VANI opened at $1.07 on Monday. The stock has a market capitalization of $63.39 million, a P/E ratio of -2.38 and a beta of 2.81. The company’s 50-day simple moving average is $1.05 and its two-hundred day simple moving average is $1.16. Vivani Medical has a 52-week low of $0.91 and a 52-week high of $2.09.

Vivani Medical (NASDAQ:VANI) last issued its quarterly earnings data on Tuesday, May 13th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.01). Research analysts forecast that Vivani Medical will post -0.41 EPS for the current fiscal year.

Insider Transactions at Vivani Medical

In other Vivani Medical news, Director Gregg Williams acquired 44,400 shares of the stock in a transaction dated Monday, April 7th. The shares were purchased at an average price of $0.99 per share, for a total transaction of $43,956.00. Following the purchase, the director now directly owns 4,799,200 shares of the company’s stock, 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 filing with the SEC, which is accessible through this link. Insiders have acquired 121,662 shares of company stock worth $121,636 in the last quarter. Company insiders own 46.40% of the company’s stock.

Hedge Funds Weigh In On Vivani Medical

Several institutional investors have recently made changes to their positions in VANI. Wealthedge Investment Advisors LLC purchased a new position in Vivani Medical during the fourth quarter valued at approximately $43,000. Jane Street Group LLC purchased a new position in Vivani Medical during the fourth quarter valued at approximately $66,000. Northern Trust Corp lifted its holdings in Vivani Medical by 19.1% during the fourth 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 in the last quarter. Finally, Connective Capital Management LLC lifted its holdings in Vivani Medical by 796.2% during the first 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 in the last quarter. Institutional investors 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.