Vivani Medical (NASDAQ:VANI) Shares Down 6% – What’s Next?

Vivani Medical, Inc. (NASDAQ:VANI) dropped 6% during trading on Thursday. The company traded as low as $1.0650 and last traded at $1.09. 240,975 shares were traded during mid-day trading, an increase of 67% from the average daily volume of 143,940 shares. The stock had previously closed at $1.16.

Analyst Upgrades and Downgrades

Several brokerages have commented on VANI. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vivani Medical in a research note on Friday, October 2nd. Wall Street Zen raised shares of Vivani Medical from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Vivani Medical presently has a consensus rating of “Hold” and a consensus price target of $3.75.

Vivani Medical Stock Up 1.8%

The stock’s fifty day moving average is $1.28 and its two-hundred day moving average is $1.27. The firm has a market capitalization of $100.12 million, a price-to-earnings ratio of -3.17 and a beta of 2.35.

Vivani Medical (NASDAQ:VANI) last announced its earnings results on Thursday, August 13th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.01. As a group, analysts anticipate that Vivani Medical, Inc. will post -0.30 EPS for the current year.

About Vivani Medical

Vivani Medical, Inc is a clinical-stage biopharmaceutical company developing miniature, subcutaneous drug implants designed to provide continuous delivery of medicines over extended periods. Its proprietary NanoPortal technology is intended to address challenges associated with conventional dosing, including frequent injections, daily administration and inconsistent medication adherence.

The company’s development programs have focused primarily on therapies for metabolic diseases. Its NPM-115 program is designed to deliver exenatide for chronic weight management, while NPM-119 is intended to provide continuous exenatide delivery for the treatment of type 2 diabetes.