Vivani Medical (NASDAQ:VANI) Earns Buy Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Vivani Medical (NASDAQ:VANI) in a research note published on Friday,Benzinga reports. The brokerage currently has a $4.00 price objective on the stock.

Vivani Medical Price Performance

Shares of NASDAQ VANI opened at $0.96 on Friday. The stock has a market capitalization of $56.87 million, a PE ratio of -2.13 and a beta of 3.20. Vivani Medical has a one year low of $0.91 and a one year high of $2.22. The business’s fifty day moving average price is $1.12 and its 200-day moving average price is $1.20.

Vivani Medical (NASDAQ:VANI) last released its quarterly earnings data on Monday, March 31st. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.01). As a group, equities analysts expect that Vivani Medical will post -0.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC boosted its holdings 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 period. Northern Trust Corp lifted its holdings in Vivani Medical by 19.1% during the 4th quarter. Northern Trust Corp now owns 71,915 shares of the company’s stock worth $83,000 after purchasing an additional 11,540 shares in the last quarter. Jane Street Group LLC bought a new position in Vivani Medical in the 4th quarter worth about $66,000. Finally, Wealthedge Investment Advisors LLC purchased a new position in Vivani Medical during the 4th quarter valued at about $43,000. 6.78% of the stock is currently 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.