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

Vivani Medical (NASDAQ:VANI)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a note issued to investors on Friday,Benzinga reports. They presently have a $4.00 price objective on the stock. HC Wainwright’s price target would suggest a potential upside of 316.67% from the company’s previous close.

Vivani Medical Trading Down 3.0 %

VANI opened at $0.96 on Friday. The firm has a market capitalization of $56.87 million, a PE ratio of -2.13 and a beta of 2.76. Vivani Medical has a twelve month low of $0.91 and a twelve month high of $2.22. The firm’s 50-day moving average price is $1.12 and its 200 day moving average price is $1.20.

Vivani Medical (NASDAQ:VANI) last posted its quarterly earnings results on Monday, March 31st. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). As a group, analysts predict that Vivani Medical will post -0.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Vivani Medical

Institutional investors and hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC lifted 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 acquiring an additional 15,008 shares during the last quarter. Northern Trust Corp increased its position 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. Jane Street Group LLC purchased a new stake in Vivani Medical in the 4th quarter valued at about $66,000. Finally, Wealthedge Investment Advisors LLC acquired a new position in Vivani Medical in the fourth quarter valued at about $43,000. 6.78% of the stock is currently owned by institutional investors and hedge funds.

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.