Short Interest in Vivani Medical, Inc. (NASDAQ:VANI) Decreases By 29.6%

Vivani Medical, Inc. (NASDAQ:VANI) saw a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 531,000 shares, a decline of 29.6% from the October 31st total of 754,400 shares. Based on an average daily volume of 100,300 shares, the short-interest ratio is presently 5.3 days. Currently, 1.9% of the shares of the company are sold short.

Insider Transactions at Vivani Medical

In related news, Director Gregg Williams purchased 3,968,253 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were acquired at an average price of $1.26 per share, for a total transaction of $4,999,998.78. Following the purchase, the director now owns 4,695,861 shares in the company, valued at approximately $5,916,784.86. This represents a 545.38 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have bought 3,969,753 shares of company stock worth $5,001,704 in the last ninety days. Insiders own 44.30% of the company’s stock.

Hedge Funds Weigh In On Vivani Medical

An institutional investor recently raised its position in Vivani Medical stock. Geode Capital Management LLC boosted its position in shares of Vivani Medical, Inc. (NASDAQ:VANI) by 4.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 342,891 shares of the company’s stock after acquiring an additional 15,008 shares during the period. Geode Capital Management LLC owned 0.62% of Vivani Medical worth $401,000 as of its most recent SEC filing. Institutional investors own 6.78% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Vivani Medical Trading Down 0.7 %

Shares of NASDAQ:VANI traded down $0.01 on Friday, reaching $1.44. 102,567 shares of the company’s stock were exchanged, compared to its average volume of 986,651. The company has a market capitalization of $85.30 million, a price-to-earnings ratio of -3.20 and a beta of 3.20. Vivani Medical has a twelve month low of $0.84 and a twelve month high of $7.80. The company has a fifty day moving average of $1.25 and a 200-day moving average of $1.34.

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.