Short Interest in Vivani Medical, Inc. (NASDAQ:VANI) Drops By 23.0%

Vivani Medical, Inc. (NASDAQ:VANI) saw a large decline in short interest during the month of 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. Based on an average daily volume of 121,200 shares, the short-interest ratio is presently 3.0 days. Approximately 1.2% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Vivani Medical news, Director Gregg Williams acquired 3,968,253 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were acquired at an average cost of $1.26 per share, with a total value of $4,999,998.78. Following the acquisition, the director now directly owns 4,695,861 shares of the company’s stock, valued at approximately $5,916,784.86. The trade was 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 link. 44.30% of the stock is owned by insiders.

Institutional Trading of Vivani Medical

A hedge fund recently raised its stake in Vivani Medical stock. Geode Capital Management LLC increased its position in shares of Vivani Medical, Inc. (NASDAQ:VANI) by 4.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 342,891 shares of the company’s stock after buying 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 filing with the SEC. 6.78% of the stock is owned by institutional investors and hedge funds.

Vivani Medical Stock Performance

Shares of NASDAQ VANI opened at $1.20 on Wednesday. The company’s fifty day moving average price is $1.28 and its 200 day moving average price is $1.26. Vivani Medical has a 1 year low of $1.01 and a 1 year high of $7.80. The company has a market capitalization of $71.08 million, a PE ratio of -2.67 and a beta of 3.23.

About Vivani Medical

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.