HC Wainwright Has Lowered Expectations for Vivani Medical (NASDAQ:VANI) Stock Price

Vivani Medical (NASDAQ:VANI) had its target price cut by equities research analysts at HC Wainwright from $4.00 to $3.50 in a report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price target points to a potential upside of 250.00% from the stock’s previous close.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Vivani Medical in a research note on Friday, January 9th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $3.50.

Vivani Medical Stock Up 6.6%

Shares of NASDAQ:VANI opened at $1.00 on Tuesday. The firm has a fifty day moving average of $1.24 and a two-hundred day moving average of $1.35. Vivani Medical has a 12-month low of $0.91 and a 12-month high of $1.92. The firm has a market capitalization of $84.65 million, a P/E ratio of -2.33 and a beta of 3.17.

Vivani Medical (NASDAQ:VANI) last posted its quarterly earnings results on Thursday, March 26th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. Equities research analysts expect that Vivani Medical will post -0.41 earnings per share for the current fiscal year.

Insider Activity at Vivani Medical

In related news, Director Gregg Williams acquired 1,737,765 shares of the business’s stock in a transaction that occurred on Thursday, January 15th. The shares were acquired at an average cost of $1.14 per share, with a total value of $1,981,052.10. Following the purchase, the director owned 26,564,109 shares of the company’s stock, valued at approximately $30,283,084.26. The trade was a 7.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders bought 4,664,347 shares of company stock worth $5,666,549. Corporate insiders own 46.40% of the company’s stock.

Institutional Trading of Vivani Medical

Several large investors have recently modified their holdings of VANI. Panagora Asset Management Inc. acquired a new position in Vivani Medical during the 2nd quarter worth $25,000. Citadel Advisors LLC bought a new position in shares of Vivani Medical in the third quarter worth about $26,000. Susquehanna International Group LLP lifted its position in shares of Vivani Medical by 100.5% during the 3rd quarter. Susquehanna International Group LLP now owns 32,314 shares of the company’s stock worth $46,000 after purchasing an additional 16,200 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Vivani Medical during the 4th quarter worth about $60,000. Finally, Renaissance Technologies LLC boosted its stake in Vivani Medical by 118.4% during the 4th 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 period. 6.78% of the stock is owned by institutional investors.

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.