Vivani Medical, Inc. (NASDAQ:VANI) Sees Large Increase in Short Interest

Vivani Medical, Inc. (NASDAQ:VANI) was the target of a significant growth in short interest in the month of March. As of March 31st, there was short interest totaling 532,131 shares, a growth of 65.0% from the March 15th total of 322,575 shares. Based on an average daily trading volume, of 280,776 shares, the short-interest ratio is presently 1.9 days. Approximately 1.2% of the company’s shares are short sold.

Insider Activity

In other Vivani Medical news, Director Gregg Williams bought 1,737,765 shares of the company’s stock in a transaction on Thursday, January 15th. The stock was acquired at an average price of $1.14 per share, for a total transaction of $1,981,052.10. Following the completion of the transaction, the director directly owned 26,564,109 shares of the company’s stock, valued at approximately $30,283,084.26. This represents a 7.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders purchased a total of 4,664,347 shares of company stock worth $5,666,549 in the last ninety days. 46.40% of the stock is owned by insiders.

Institutional Trading of Vivani Medical

A number of large investors have recently modified their holdings of VANI. Tudor Investment Corp ET AL purchased a new stake in shares of Vivani Medical in the fourth quarter valued at approximately $1,127,000. Marshall Wace LLP purchased a new stake in shares of Vivani Medical in the fourth quarter valued at approximately $174,000. Geode Capital Management LLC boosted its holdings in shares of Vivani Medical by 29.6% in the fourth quarter. Geode Capital Management LLC now owns 461,652 shares of the company’s stock valued at $568,000 after purchasing an additional 105,398 shares during the period. Renaissance Technologies LLC raised its stake in Vivani Medical by 118.4% in the fourth quarter. Renaissance Technologies LLC now owns 97,985 shares of the company’s stock worth $121,000 after buying an additional 53,127 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in Vivani Medical in the fourth quarter worth approximately $60,000. Hedge funds and other institutional investors own 6.78% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on VANI shares. HC Wainwright dropped their target price on Vivani Medical from $4.00 to $3.50 and set a “buy” rating for the company in a research report on Tuesday, March 31st. Weiss Ratings restated a “sell (d-)” rating on shares of Vivani Medical in a research report on Friday, January 9th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Vivani Medical has a consensus rating of “Hold” and a consensus price target of $3.50.

Vivani Medical Stock Performance

Shares of NASDAQ VANI opened at $1.04 on Monday. The firm has a market capitalization of $88.03 million, a price-to-earnings ratio of -2.42 and a beta of 2.16. The stock has a 50 day moving average price of $1.18 and a 200 day moving average price of $1.33. Vivani Medical has a 52-week low of $0.92 and a 52-week high of $1.92.

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

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.