Vivani Medical (NASDAQ:VANI) Given “Buy” Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Vivani Medical (NASDAQ:VANI) in a research note published on Friday morning,Benzinga reports. The brokerage currently has a $4.00 target price on the stock.

Vivani Medical Trading Down 3.0 %

Shares of Vivani Medical stock opened at $0.96 on Friday. The company has a market capitalization of $56.87 million, a P/E ratio of -2.13 and a beta of 3.20. The stock has a fifty day simple moving average of $1.12 and a 200 day simple moving average of $1.20. Vivani Medical has a 12-month low of $0.91 and a 12-month high of $2.22.

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

Hedge Funds Weigh In On Vivani Medical

Several hedge funds have recently modified their holdings of the company. Geode Capital Management LLC increased its position in shares of Vivani Medical by 4.6% during 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. Jane Street Group LLC purchased a new stake in shares of Vivani Medical during the 4th quarter valued at $66,000. Northern Trust Corp raised 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 period. Finally, Wealthedge Investment Advisors LLC purchased a new position in shares of Vivani Medical in the 4th quarter worth about $43,000. Institutional investors 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.