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

Vivani Medical (NASDAQ:VANI)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They presently have a $4.00 target price on the stock. HC Wainwright’s price objective points to a potential upside of 277.36% from the company’s previous close.

Vivani Medical Trading Up 1.0 %

Vivani Medical stock opened at $1.06 on Wednesday. Vivani Medical has a 1-year low of $0.91 and a 1-year high of $2.09. The firm’s fifty day simple moving average is $1.08 and its 200-day simple moving average is $1.19. The company has a market capitalization of $62.79 million, a P/E ratio of -2.36 and a beta of 2.76.

Vivani Medical (NASDAQ:VANI) last posted its earnings results on Monday, March 31st. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.01). On average, equities research analysts predict that Vivani Medical will post -0.41 earnings per share for the current year.

Insider Buying and Selling at Vivani Medical

In other news, Director Gregg Williams acquired 34,000 shares of Vivani Medical stock in a transaction dated Friday, April 4th. The stock was acquired at an average cost of $0.99 per share, for a total transaction of $33,660.00. Following the completion of the purchase, the director now owns 4,754,800 shares of the company’s stock, valued at $4,707,252. This represents a 0.72 % 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 purchased a total of 106,240 shares of company stock worth $106,060 over the last 90 days. Insiders own 44.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Wealthedge Investment Advisors LLC acquired a new position in shares of Vivani Medical during the 4th quarter worth about $43,000. Jane Street Group LLC acquired a new position in shares of Vivani Medical during the fourth quarter worth approximately $66,000. Northern Trust Corp boosted its position in shares of Vivani Medical by 19.1% in the fourth quarter. Northern Trust Corp now owns 71,915 shares of the company’s stock valued at $83,000 after acquiring an additional 11,540 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Vivani Medical by 4.6% in the third quarter. Geode Capital Management LLC now owns 342,891 shares of the company’s stock worth $401,000 after acquiring an additional 15,008 shares during the last quarter. Institutional investors and hedge funds 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.