Vivani Medical’s (VANI) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Vivani Medical (NASDAQ:VANI) in a research report released on Wednesday,Benzinga reports. The brokerage currently has a $4.00 price target on the stock.

Vivani Medical Trading Down 3.5 %

Shares of NASDAQ VANI opened at $1.11 on Wednesday. The company has a fifty day moving average price of $1.14 and a 200 day moving average price of $1.21. The firm has a market cap of $65.75 million, a PE ratio of -2.47 and a beta of 3.20. Vivani Medical has a 1-year low of $1.03 and a 1-year high of $2.22.

Institutional Investors Weigh In On Vivani Medical

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wealthedge Investment Advisors LLC bought a new stake in Vivani Medical during the 4th quarter worth about $43,000. Jane Street Group LLC acquired a new stake in shares of Vivani Medical in the fourth quarter valued at about $66,000. Northern Trust Corp raised its holdings in Vivani Medical by 19.1% during the fourth quarter. Northern Trust Corp now owns 71,915 shares of the company’s stock worth $83,000 after acquiring an additional 11,540 shares in the last quarter. Finally, Geode Capital Management LLC boosted 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 valued at $401,000 after purchasing an additional 15,008 shares during the last quarter. Institutional investors and hedge funds own 6.78% of the company’s stock.

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.