HC Wainwright Reaffirms Buy Rating for Vivani Medical (NASDAQ:VANI)

Vivani Medical (NASDAQ:VANI)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a research note issued to investors on Thursday,Benzinga reports. They currently have a $4.00 target price on the stock. HC Wainwright’s price target indicates a potential upside of 284.62% from the company’s previous close.

Vivani Medical Stock Down 1.0 %

Shares of NASDAQ VANI opened at $1.04 on Thursday. The company has a market capitalization of $61.60 million, a PE ratio of -2.31 and a beta of 3.20. The stock’s 50 day moving average price is $1.17 and its 200-day moving average price is $1.23. Vivani Medical has a twelve month low of $1.03 and a twelve month high of $2.22.

Institutional Investors Weigh In On Vivani Medical

Large investors have recently made changes to their positions in the business. Wealthedge Investment Advisors LLC bought a new position in Vivani Medical during the fourth quarter valued at about $43,000. Jane Street Group LLC purchased a new position in shares of Vivani Medical during the 4th quarter valued at $66,000. Northern Trust Corp increased its holdings in Vivani Medical by 19.1% in the 4th quarter. Northern Trust Corp now owns 71,915 shares of the company’s stock worth $83,000 after acquiring an additional 11,540 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Vivani Medical by 4.6% in the 3rd 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 period. 6.78% of the stock is owned by hedge funds and other institutional investors.

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.