Vivani Medical (NASDAQ:VANI) Posts Quarterly Earnings Results, Meets Estimates

Vivani Medical (NASDAQ:VANI) released its earnings results on Wednesday. The company reported ($0.08) EPS for the quarter, hitting analysts’ consensus estimates of ($0.08), FiscalAI reports.

Vivani Medical Trading Up 3.1%

NASDAQ VANI opened at $1.20 on Friday. The stock’s 50-day moving average price is $1.18 and its two-hundred day moving average price is $1.30. Vivani Medical has a 1 year low of $0.92 and a 1 year high of $1.92. The company has a market cap of $103.14 million, a PE ratio of -3.00 and a beta of 2.35.

Insider Buying and Selling

In related news, Director Gregg Williams bought 1,587,301 shares of the business’s stock in a transaction on Wednesday, April 15th. The shares were bought at an average cost of $1.26 per share, for a total transaction of $1,999,999.26. Following the completion of the acquisition, the director directly owned 32,944,484 shares in the company, valued at approximately $41,510,049.84. This represents a 5.06% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 53.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Vivani Medical

A number of hedge funds have recently bought and sold shares of the company. Susquehanna International Group LLP increased its position in Vivani Medical by 100.5% in the 3rd quarter. Susquehanna International Group LLP now owns 32,314 shares of the company’s stock worth $46,000 after buying an additional 16,200 shares during the period. Renaissance Technologies LLC boosted its position in shares of Vivani Medical by 118.4% in the fourth quarter. Renaissance Technologies LLC now owns 97,985 shares of the company’s stock valued at $121,000 after acquiring an additional 53,127 shares during the period. Tudor Investment Corp ET AL acquired a new stake in shares of Vivani Medical in the fourth quarter worth $1,127,000. Geode Capital Management LLC grew its stake in shares of Vivani Medical by 29.6% in the fourth quarter. Geode Capital Management LLC now owns 461,652 shares of the company’s stock worth $568,000 after acquiring an additional 105,398 shares during the last quarter. Finally, State Street Corp increased its position in Vivani Medical by 12.5% during the fourth quarter. State Street Corp now owns 144,865 shares of the company’s stock worth $178,000 after acquiring an additional 16,070 shares during the period. 6.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, HC Wainwright dropped their price target on Vivani Medical from $4.00 to $3.50 and set a “buy” rating on the stock in a report on Tuesday, March 31st. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $3.50.

About Vivani Medical

Vivani Medical Solutions, Inc (NASDAQ: VANI) is a medical technology company focused on the design, development and commercialization of advanced specimen retrieval and hemostasis products for minimally invasive diagnostic procedures. Its core mission is to enhance procedural safety and streamline clinical workflows for interventional radiologists and pathology laboratories.

The company’s flagship offerings include the StopBleed Retrieval Device and StopBleed Pad, which integrate proprietary hemostatic materials to control bleeding at biopsy sites and preserve tissue integrity.