Short Interest in Viveve Medical, Inc. (VIVE) Rises By 42.3%
Viveve Medical, Inc. (NASDAQ:VIVE) was the target of a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 870,614 shares, an increase of 42.3% from the May 15th total of 611,984 shares. Currently, 6.3% of the company’s stock are sold short. Based on an average daily trading volume, of 184,207 shares, the days-to-cover ratio is currently 4.7 days.
In other news, Director James G. Atkinson purchased 375,000 shares of Viveve Medical stock in a transaction dated Friday, March 17th. The stock was acquired at an average cost of $4.00 per share, for a total transaction of $1,500,000.00. Following the acquisition, the director now directly owns 11,525 shares in the company, valued at $46,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Patricia Scheller purchased 12,500 shares of Viveve Medical stock in a transaction dated Friday, March 17th. The shares were purchased at an average price of $4.00 per share, with a total value of $50,000.00. Following the completion of the acquisition, the chief executive officer now owns 45,164 shares in the company, valued at $180,656. The disclosure for this purchase can be found here. 44.37% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Stonepine Capital Management LLC increased its position in shares of Viveve Medical by 48.1% in the first quarter. Stonepine Capital Management LLC now owns 3,849,711 shares of the company’s stock worth $24,256,000 after buying an additional 1,250,000 shares in the last quarter. HighTower Advisors LLC increased its position in shares of Viveve Medical by 36.9% in the first quarter. HighTower Advisors LLC now owns 1,293,718 shares of the company’s stock worth $8,192,000 after buying an additional 348,682 shares in the last quarter. Perceptive Advisors LLC acquired a new position in shares of Viveve Medical during the first quarter worth about $5,942,000. RTW Investments LLC increased its position in shares of Viveve Medical by 3.0% in the third quarter. RTW Investments LLC now owns 839,274 shares of the company’s stock worth $6,060,000 after buying an additional 24,328 shares in the last quarter. Finally, Wexford Capital LP increased its position in shares of Viveve Medical by 23.9% in the first quarter. Wexford Capital LP now owns 777,124 shares of the company’s stock worth $4,919,000 after buying an additional 150,000 shares in the last quarter. 61.19% of the stock is currently owned by institutional investors.
Shares of Viveve Medical (NASDAQ VIVE) opened at 7.59 on Tuesday. The company has a 50-day moving average price of $7.65 and a 200 day moving average price of $5.93. Viveve Medical has a 12-month low of $3.75 and a 12-month high of $11.16. The firm’s market capitalization is $146.90 million.
Viveve Medical (NASDAQ:VIVE) last announced its quarterly earnings data on Thursday, May 11th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by $0.06. The business had revenue of $3.04 million during the quarter, compared to analyst estimates of $2.70 million. Viveve Medical had a negative net margin of 255.11% and a negative return on equity of 232.94%. Equities research analysts expect that Viveve Medical will post ($1.81) earnings per share for the current fiscal year.
VIVE has been the subject of several research reports. Cowen and Company initiated coverage on Viveve Medical in a report on Wednesday, May 3rd. They set an “outperform” rating and a $11.00 price target for the company. Raymond James Financial, Inc. initiated coverage on Viveve Medical in a report on Thursday, May 25th. They set an “outperform” rating and a $10.00 price target for the company. B. Riley reiterated a “buy” rating and set a $10.00 price target on shares of Viveve Medical in a report on Wednesday, February 22nd. Finally, ValuEngine upgraded Viveve Medical from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $12.80.
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About Viveve Medical
Viveve Medical, Inc designs, develops, manufactures and markets a medical device, Geneveve, for the non-invasive treatment of vaginal laxity, for improved sexual function, and for vaginal rejuvenation. The Company’s, Geneveve, is a non-invasive solution for vaginal laxity, which includes three components: the Viveve System (a radio frequency (RF), generator housed in a table-top console), a reusable handpiece and a single-use treatment tip, as well as several other consumable accessories.
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