Vivani Medical (NASDAQ:VANI) Receives Buy Rating from HC Wainwright

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

Vivani Medical Price Performance

Shares of NASDAQ VANI opened at $1.06 on Thursday. The stock has a market capitalization of $62.79 million, a price-to-earnings ratio of -2.36 and a beta of 3.20. The firm’s 50 day simple moving average is $1.16 and its 200-day simple moving average is $1.22. Vivani Medical has a 12 month low of $1.03 and a 12 month high of $2.22.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Jane Street Group LLC acquired a new stake in shares of Vivani Medical during the 4th quarter valued at about $66,000. Wealthedge Investment Advisors LLC purchased a new position in Vivani Medical during the fourth quarter worth approximately $43,000. Geode Capital Management LLC grew its holdings in 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 purchasing an additional 15,008 shares during the period. Finally, Northern Trust Corp increased its position in shares of Vivani Medical by 19.1% in the fourth quarter. Northern Trust Corp now owns 71,915 shares of the company’s stock valued at $83,000 after buying an additional 11,540 shares in the last quarter. Institutional investors and hedge funds 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.