HC Wainwright Reaffirms “Buy” Rating for Vivani Medical (NASDAQ:VANI)

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

Vivani Medical Trading Down 3.0 %

NASDAQ VANI opened at $0.96 on Friday. The business’s 50-day moving average price is $1.12 and its 200 day moving average price is $1.20. Vivani Medical has a twelve month low of $0.91 and a twelve month high of $2.22. The company has a market capitalization of $56.87 million, a PE ratio of -2.13 and a beta of 2.76.

Vivani Medical (NASDAQ:VANI) last released its quarterly earnings data on Monday, March 31st. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). Equities analysts predict that Vivani Medical will post -0.41 EPS for the current year.

Institutional Trading of Vivani Medical

A number of institutional investors have recently added to or reduced their stakes in VANI. Wealthedge Investment Advisors LLC acquired a new position in Vivani Medical during the 4th quarter worth approximately $43,000. Jane Street Group LLC acquired a new position in shares of Vivani Medical during the fourth quarter worth $66,000. Northern Trust Corp boosted its stake 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 purchasing an additional 11,540 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Vivani Medical by 4.6% during the 3rd quarter. Geode Capital Management LLC now owns 342,891 shares of the company’s stock valued at $401,000 after purchasing an additional 15,008 shares in the last quarter. 6.78% of the stock is owned by hedge funds and other institutional investors.

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.