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

HC Wainwright reaffirmed their buy rating on shares of Vivani Medical (NASDAQ:VANI) in a research report report published on Monday,Benzinga reports. HC Wainwright currently has a $4.00 price objective on the stock.

Vivani Medical Trading Down 1.7%

Shares of Vivani Medical stock opened at $1.13 on Monday. Vivani Medical has a 1 year low of $0.91 and a 1 year high of $2.09. The stock has a 50-day moving average price of $1.05 and a 200 day moving average price of $1.16. The company has a market cap of $66.95 million, a P/E ratio of -2.51 and a beta of 2.81.

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

Insider Buying and Selling at Vivani Medical

In other news, Director Gregg Williams bought 34,000 shares of the company’s stock in a transaction on Friday, April 4th. The shares were bought at an average cost of $0.99 per share, with a total value of $33,660.00. Following the transaction, the director now directly owns 4,754,800 shares in the company, valued at approximately $4,707,252. This trade represents a 0.72% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders purchased 121,662 shares of company stock valued at $121,636 in the last quarter. Company insiders own 46.40% of the company’s stock.

Institutional Investors Weigh In On Vivani Medical

Several institutional investors have recently made changes to their positions in the company. Connective Capital Management LLC increased its holdings in Vivani Medical by 796.2% in the first quarter. Connective Capital Management LLC now owns 162,098 shares of the company’s stock worth $170,000 after buying an additional 144,010 shares during the last quarter. Wealthedge Investment Advisors LLC lifted its stake in Vivani Medical by 238.8% in the first quarter. Wealthedge Investment Advisors LLC now owns 125,033 shares of the company’s stock valued at $131,000 after acquiring an additional 88,132 shares during the last quarter. Jane Street Group LLC bought a new stake in Vivani Medical in the fourth quarter worth approximately $66,000. Finally, Northern Trust Corp increased its stake 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 worth $83,000 after purchasing an additional 11,540 shares during the last quarter. 6.78% of the stock is currently owned by institutional investors and hedge funds.

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.