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

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

Vivani Medical Price Performance

VANI opened at $0.96 on Friday. The stock’s 50 day simple moving average is $1.12 and its 200 day simple moving average is $1.20. The stock has a market cap of $56.87 million, a P/E ratio of -2.13 and a beta of 2.76. Vivani Medical has a 1-year low of $0.91 and a 1-year high of $2.22.

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). Research analysts expect that Vivani Medical will post -0.41 EPS for the current fiscal year.

Institutional Trading of Vivani Medical

Large investors have recently modified their holdings of the business. Jane Street Group LLC purchased a new stake in Vivani Medical in the 4th quarter valued at approximately $66,000. Wealthedge Investment Advisors LLC purchased a new stake in shares of Vivani Medical in the fourth quarter valued at $43,000. Geode Capital Management LLC lifted its position 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 valued at $401,000 after acquiring an additional 15,008 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Vivani Medical by 19.1% during 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 last quarter. 6.78% of the stock is currently owned by institutional investors and hedge funds.

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.