HC Wainwright Reaffirms Buy Rating for Vivani Medical (NASDAQ:VANI)

Vivani Medical (NASDAQ:VANI)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a research report issued on Wednesday,Benzinga reports. They presently have a $4.00 price target on the stock. HC Wainwright’s price target would suggest a potential upside of 247.83% from the stock’s current price.

Vivani Medical Stock Up 2.7 %

NASDAQ:VANI opened at $1.15 on Wednesday. Vivani Medical has a twelve month low of $1.03 and a twelve month high of $2.22. The firm has a market capitalization of $68.12 million, a price-to-earnings ratio of -2.56 and a beta of 3.20. The stock’s 50 day moving average price is $1.14 and its two-hundred day moving average price is $1.21.

Institutional Trading of Vivani Medical

A number of large investors have recently added to or reduced their stakes in VANI. Northern Trust Corp increased 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 purchasing an additional 11,540 shares during the last quarter. Geode Capital Management LLC increased its position 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 during the last quarter. Wealthedge Investment Advisors LLC bought a new stake in Vivani Medical in the fourth quarter valued at approximately $43,000. Finally, Jane Street Group LLC acquired a new stake in shares of Vivani Medical in the fourth quarter valued at approximately $66,000. 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.