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

Vivani Medical, Inc. (NASDAQ:VANI) was the recipient of a significant decline in short interest in December. As of December 31st, there was short interest totalling 358,000 shares, a decline of 23.0% from the December 15th total of 465,200 shares. Approximately 1.2% of the company’s shares are sold short. Based on an average daily trading volume, of 121,200 shares, the short-interest ratio is presently 3.0 days.

Insider Buying and Selling at Vivani Medical

In related news, Director Gregg Williams acquired 3,968,253 shares of the business’s stock in a transaction on Friday, November 8th. The shares were bought at an average cost of $1.26 per share, with a total value of $4,999,998.78. Following the completion of the transaction, the director now directly owns 4,695,861 shares of the company’s stock, valued at $5,916,784.86. This trade represents a 545.38 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 44.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Vivani Medical

A hedge fund recently raised its stake in Vivani Medical stock. Geode Capital Management LLC increased its holdings in Vivani Medical, Inc. (NASDAQ:VANI) by 4.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 342,891 shares of the company’s stock after acquiring an additional 15,008 shares during the quarter. Geode Capital Management LLC owned approximately 0.62% of Vivani Medical worth $401,000 as of its most recent filing with the SEC. 6.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, HC Wainwright started coverage on Vivani Medical in a research report on Thursday, November 7th. They set a “buy” rating and a $3.00 price target on the stock.

Vivani Medical Stock Performance

Shares of VANI stock opened at $1.21 on Friday. The firm has a fifty day simple moving average of $1.28 and a 200-day simple moving average of $1.26. Vivani Medical has a twelve month low of $1.01 and a twelve month high of $7.80.

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.