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

Vivani Medical (NASDAQ:VANI)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a research note issued on Wednesday,Benzinga reports. They currently have a $4.00 price objective on the stock. HC Wainwright’s target price indicates a potential upside of 288.35% from the stock’s current price.

Vivani Medical Trading Down 1.0 %

Shares of VANI opened at $1.03 on Wednesday. The firm has a fifty day simple moving average of $1.09 and a two-hundred day simple moving average of $1.19. The firm has a market cap of $61.01 million, a PE ratio of -2.29 and a beta of 2.76. Vivani Medical has a 1-year low of $0.91 and a 1-year high of $2.09.

Vivani Medical (NASDAQ:VANI) last announced its earnings results on Monday, March 31st. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.01). As a group, research analysts forecast that Vivani Medical will post -0.41 EPS for the current fiscal year.

Insider Activity

In related news, Director Gregg Williams purchased 34,000 shares of the business’s stock in a transaction on Friday, April 4th. The stock was acquired at an average price of $0.99 per share, with a total value of $33,660.00. Following the completion of the acquisition, the director now owns 4,754,800 shares of the company’s stock, valued at approximately $4,707,252. This trade represents a 0.72 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders acquired a total of 106,240 shares of company stock valued at $106,060 in the last 90 days. Company insiders own 44.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Jane Street Group LLC purchased a new stake in Vivani Medical in the 4th quarter worth approximately $66,000. Wealthedge Investment Advisors LLC purchased a new stake in shares of Vivani Medical in the fourth quarter worth $43,000. Geode Capital Management LLC raised its position in shares of Vivani Medical by 4.6% during 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 during the period. Finally, Northern Trust Corp raised its position in shares of 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 period. 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.