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

Vivani Medical (NASDAQ:VANI)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a research report issued on Friday,Benzinga reports. They currently have a $4.00 price objective on the stock. HC Wainwright’s price objective would indicate a potential upside of 304.04% from the company’s current price.

Vivani Medical Stock Down 2.0 %

NASDAQ:VANI opened at $0.99 on Friday. Vivani Medical has a 52 week low of $0.95 and a 52 week high of $2.22. The company has a market cap of $58.64 million, a PE ratio of -2.20 and a beta of 3.20. The business’s 50 day moving average is $1.12 and its two-hundred day moving average is $1.20.

Vivani Medical (NASDAQ:VANI) last released its quarterly earnings data on Monday, March 31st. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). As a group, sell-side analysts expect that Vivani Medical will post -0.41 EPS for the current fiscal year.

Hedge Funds Weigh In On Vivani Medical

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Wealthedge Investment Advisors LLC acquired a new stake in shares of Vivani Medical during the 4th quarter worth approximately $43,000. Jane Street Group LLC acquired a new stake in Vivani Medical in the fourth quarter worth $66,000. Northern Trust Corp lifted its stake in Vivani Medical by 19.1% in the fourth quarter. Northern Trust Corp now owns 71,915 shares of the company’s stock valued at $83,000 after buying an additional 11,540 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings 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 period. 6.78% of the stock is currently owned by institutional investors and hedge funds.

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.