Vivani Medical (NASDAQ:VANI) Announces Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Vivani Medical (NASDAQ:VANI) issued its quarterly earnings data on Thursday. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01, FiscalAI reports.

Vivani Medical Price Performance

VANI stock traded up $0.06 during mid-day trading on Friday, reaching $1.40. The company had a trading volume of 112,179 shares, compared to its average volume of 168,538. Vivani Medical has a 52 week low of $0.92 and a 52 week high of $1.92. The stock has a 50 day simple moving average of $1.29 and a two-hundred day simple moving average of $1.25. The company has a market capitalization of $120.74 million, a price-to-earnings ratio of -4.00 and a beta of 2.35.

Insider Activity

In other news, Director Gregg Williams bought 1,587,301 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was acquired at an average cost of $1.26 per share, for a total transaction of $1,999,999.26. Following the purchase, the director owned 36,119,086 shares of the company’s stock, valued at approximately $45,510,048.36. This trade represents a 4.60% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 53.30% of the company’s stock.

Institutional Investors Weigh In On Vivani Medical

Several hedge funds have recently added to or reduced their stakes in the business. State Street Corp boosted its holdings in shares of 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. Susquehanna International Group LLP lifted its holdings in shares of Vivani Medical by 100.5% during the 3rd quarter. Susquehanna International Group LLP now owns 32,314 shares of the company’s stock worth $46,000 after acquiring an additional 16,200 shares during the period. Citadel Advisors LLC acquired a new stake in shares of Vivani Medical in the 3rd quarter valued at $26,000. Jane Street Group LLC bought a new position in Vivani Medical in the fourth quarter valued at about $60,000. Finally, Renaissance Technologies LLC grew its holdings in shares of Vivani Medical by 118.4% during the 4th quarter. Renaissance Technologies LLC now owns 97,985 shares of the company’s stock valued at $121,000 after purchasing an additional 53,127 shares during the last quarter. Institutional investors and hedge funds own 6.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Vivani Medical from a “sell” rating to a “hold” rating in a research report on Saturday. Lake Street Capital assumed coverage on Vivani Medical in a research note on Tuesday, June 23rd. They issued a “buy” rating and a $4.00 price target for the company. Finally, Weiss Ratings raised Vivani Medical from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 7th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $3.75.

Vivani Medical Company Profile

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.