Vivani Medical (NASDAQ:VANI) Stock Price Down 0.9% – Here’s What Happened

Shares of Vivani Medical, Inc. (NASDAQ:VANI) fell 0.9% on Tuesday . The company traded as low as $1.13 and last traded at $1.14. 145,122 shares traded hands during mid-day trading, a decline of 25% from the average session volume of 192,362 shares. The stock had previously closed at $1.15.

Wall Street Analyst Weigh In

Separately, HC Wainwright reduced their target price on shares of Vivani Medical from $4.00 to $3.50 and set a “buy” rating for the company in a research note on Tuesday, March 31st. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Vivani Medical has an average rating of “Hold” and an average target price of $3.50.

Vivani Medical Stock Performance

The stock has a market cap of $98.31 million, a price-to-earnings ratio of -2.85 and a beta of 2.31. The company’s 50 day simple moving average is $1.20 and its 200 day simple moving average is $1.26.

Vivani Medical (NASDAQ:VANI) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.08) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.08). Sell-side analysts predict that Vivani Medical, Inc. will post -0.3 EPS for the current year.

Insider Transactions at Vivani Medical

In other news, Director Gregg Williams purchased 1,587,301 shares of the stock in a transaction dated Friday, May 15th. The shares were bought at an average cost of $1.26 per share, for a total transaction of $1,999,999.26. Following the transaction, the director owned 34,531,785 shares in the company, valued at $43,510,049.10. This trade represents a 4.82% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last three months, insiders acquired 4,749,833 shares of company stock worth $5,685,496. Company insiders own 53.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Tudor Investment Corp ET AL acquired a new stake in shares of Vivani Medical during the 4th quarter valued at $1,127,000. Geode Capital Management LLC increased its stake in shares of Vivani Medical by 29.6% in the fourth quarter. Geode Capital Management LLC now owns 461,652 shares of the company’s stock worth $568,000 after acquiring an additional 105,398 shares during the last quarter. State Street Corp raised its holdings in shares of Vivani Medical by 12.5% during the fourth quarter. State Street Corp now owns 144,865 shares of the company’s stock worth $178,000 after acquiring an additional 16,070 shares in the last quarter. Marshall Wace LLP acquired a new stake in Vivani Medical during the fourth quarter valued at $174,000. Finally, Renaissance Technologies LLC boosted its position in Vivani Medical by 118.4% during the fourth quarter. Renaissance Technologies LLC now owns 97,985 shares of the company’s stock valued at $121,000 after purchasing an additional 53,127 shares during the last quarter. Institutional investors and hedge funds own 6.78% of the company’s stock.

About Vivani Medical

Vivani Medical Solutions, Inc (NASDAQ: VANI) is a medical technology company focused on the design, development and commercialization of advanced specimen retrieval and hemostasis products for minimally invasive diagnostic procedures. Its core mission is to enhance procedural safety and streamline clinical workflows for interventional radiologists and pathology laboratories.

The company’s flagship offerings include the StopBleed Retrieval Device and StopBleed Pad, which integrate proprietary hemostatic materials to control bleeding at biopsy sites and preserve tissue integrity.