Vivani Medical (NASDAQ:VANI) Announces Earnings Results, Hits Expectations

Vivani Medical (NASDAQ:VANI) announced its earnings results on Tuesday. The company reported ($0.13) EPS for the quarter, meeting analysts’ consensus estimates of ($0.13), MarketWatch Earnings reports.

Vivani Medical Trading Down 1.7 %

Shares of NASDAQ:VANI traded down $0.02 on Wednesday, hitting $0.94. The company had a trading volume of 5,674 shares, compared to its average volume of 50,479. The company has a market cap of $47.77 million, a PE ratio of -2.37 and a beta of 2.55. Vivani Medical has a 52-week low of $0.75 and a 52-week high of $1.89. The business has a 50 day moving average of $1.00 and a 200 day moving average of $1.16.

Insider Buying and Selling

In other news, Director Gregg Williams bought 100,565 shares of Vivani Medical stock in a transaction on Monday, October 23rd. The shares were bought at an average cost of $1.00 per share, for a total transaction of $100,565.00. Following the acquisition, the director now owns 482,583 shares in the company, valued at $482,583. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders purchased 427,128 shares of company stock worth $418,649. 55.62% of the stock is owned by corporate insiders.

Institutional Trading of Vivani Medical

Several hedge funds and other institutional investors have recently bought and sold shares of VANI. Tower Research Capital LLC TRC acquired a new stake in Vivani Medical in the 3rd quarter worth about $34,000. Dimensional Fund Advisors LP acquired a new stake in shares of Vivani Medical in the third quarter worth approximately $45,000. Commonwealth Equity Services LLC purchased a new stake in Vivani Medical in the third quarter valued at approximately $822,000. BlackRock Inc. purchased a new stake in Vivani Medical in the third quarter valued at approximately $734,000. Finally, Prelude Capital Management LLC acquired a new position in Vivani Medical during the third quarter worth approximately $25,000. 8.44% 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.