HC Wainwright Reiterates “Buy” Rating for Vivani Medical (NASDAQ:VANI)

Vivani Medical (NASDAQ:VANI)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $4.00 price objective on the stock. HC Wainwright’s price objective suggests a potential upside of 304.04% from the company’s previous close.

Vivani Medical Price Performance

Shares of Vivani Medical stock opened at $0.99 on Friday. Vivani Medical has a 1-year low of $0.95 and a 1-year high of $2.22. The business’s fifty day moving average price is $1.12 and its two-hundred day moving average price is $1.20. The company has a market capitalization of $58.64 million, a P/E ratio of -2.20 and a beta of 3.20.

Vivani Medical (NASDAQ:VANI) last issued its quarterly earnings data on Monday, March 31st. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). On average, research analysts expect that Vivani Medical will post -0.41 earnings per share for the current fiscal year.

Institutional Trading of Vivani Medical

Hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its holdings in Vivani Medical by 4.6% during the third quarter. Geode Capital Management LLC now owns 342,891 shares of the company’s stock worth $401,000 after buying an additional 15,008 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Vivani Medical by 19.1% during the 4th quarter. Northern Trust Corp now owns 71,915 shares of the company’s stock worth $83,000 after acquiring an additional 11,540 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Vivani Medical in the 4th quarter worth $66,000. Finally, Wealthedge Investment Advisors LLC purchased a new stake in shares of Vivani Medical during the fourth quarter valued at $43,000. Institutional investors own 6.78% of the company’s stock.

Vivani Medical Company Profile

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.