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

HC Wainwright restated their buy rating on shares of Vivani Medical (NASDAQ:VANI) in a report released on Wednesday,Benzinga reports. They currently have a $4.00 price objective on the stock.

Vivani Medical Trading Down 3.5 %

Shares of VANI opened at $1.11 on Wednesday. The stock has a market cap of $65.75 million, a P/E 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. The stock’s 50-day moving average price is $1.14 and its two-hundred day moving average price is $1.21.

Institutional Investors Weigh In On Vivani Medical

Several hedge funds have recently bought and sold shares of VANI. Wealthedge Investment Advisors LLC acquired a new position in shares of Vivani Medical in the 4th quarter valued at $43,000. Jane Street Group LLC acquired a new position in Vivani Medical in the fourth quarter valued at about $66,000. Northern Trust Corp grew 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 acquiring an additional 11,540 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Vivani Medical by 4.6% in the third quarter. Geode Capital Management LLC now owns 342,891 shares of the company’s stock worth $401,000 after acquiring an additional 15,008 shares in the last quarter. 6.78% of the stock is currently owned by institutional investors and hedge funds.

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.