Vivani Medical, Inc. (NASDAQ:VANI) Short Interest Down 29.6% in November

Vivani Medical, Inc. (NASDAQ:VANI) was the target of a large drop in short interest in November. As of November 15th, there was short interest totalling 531,000 shares, a drop of 29.6% from the October 31st total of 754,400 shares. Based on an average trading volume of 100,300 shares, the short-interest ratio is presently 5.3 days. Approximately 1.9% of the shares of the company are short sold.

Vivani Medical Stock Down 0.7 %

NASDAQ VANI traded down $0.01 during trading on Friday, hitting $1.44. The company’s stock had a trading volume of 102,322 shares, compared to its average volume of 986,650. Vivani Medical has a 52 week low of $0.84 and a 52 week high of $7.80. The firm has a market cap of $85.30 million, a P/E ratio of -3.22 and a beta of 3.20. The firm has a 50 day moving average price of $1.25 and a 200 day moving average price of $1.34.

Insider Activity at Vivani Medical

In other news, Director Gregg Williams bought 3,968,253 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were acquired at an average cost of $1.26 per share, for a total transaction of $4,999,998.78. Following the purchase, the director now owns 4,695,861 shares of the company’s stock, valued at $5,916,784.86. This represents a 545.38 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have purchased 3,969,753 shares of company stock valued at $5,001,704. Corporate insiders own 44.30% of the company’s stock.

Hedge Funds Weigh In On Vivani Medical

An institutional investor recently raised its position in Vivani Medical stock. Geode Capital Management LLC grew its stake in Vivani Medical, Inc. (NASDAQ:VANI) by 4.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 342,891 shares of the company’s stock after purchasing an additional 15,008 shares during the period. Geode Capital Management LLC owned about 0.62% of Vivani Medical worth $401,000 as of its most recent SEC filing. 6.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright assumed coverage on shares of Vivani Medical in a report on Thursday, November 7th. They set a “buy” rating and a $3.00 price target for the company.

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.