Vivani Medical (NASDAQ:VANI) Upgraded to Strong-Buy at Lake Street Capital

Lake Street Capital upgraded shares of Vivani Medical (NASDAQ:VANI) to a strong-buy rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other research firms have also weighed in on VANI. Weiss Ratings restated a “sell (d-)” rating on shares of Vivani Medical in a research note on Tuesday, June 9th. HC Wainwright reduced their price target on Vivani Medical from $4.00 to $3.50 and set a “buy” rating for the company in a report on Tuesday, March 31st. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $3.75.

Vivani Medical Stock Performance

Shares of NASDAQ VANI opened at $1.19 on Tuesday. The stock has a 50 day moving average price of $1.22 and a 200 day moving average price of $1.25. Vivani Medical has a 52 week low of $0.92 and a 52 week high of $1.92. The stock has a market capitalization of $102.63 million, a PE ratio of -2.97 and a beta of 2.31.

Vivani Medical (NASDAQ:VANI) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($0.08) earnings per share for the quarter, hitting the consensus estimate of ($0.08). As a group, research analysts forecast that Vivani Medical will post -0.3 EPS for the current year.

Insider Activity at Vivani Medical

In related news, Director Gregg Williams purchased 1,587,301 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were acquired at an average price of $1.26 per share, for a total transaction of $1,999,999.26. Following the purchase, the director owned 36,119,086 shares in the company, valued at approximately $45,510,048.36. This represents a 4.60% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have bought 4,761,903 shares of company stock worth $5,999,998. Insiders own 53.30% of the company’s stock.

Institutional Investors Weigh In On Vivani Medical

Several hedge funds have recently bought and sold shares of VANI. Citadel Advisors LLC acquired a new position in shares of Vivani Medical in the third quarter valued at approximately $26,000. Susquehanna International Group LLP boosted its stake in Vivani Medical by 100.5% in the 3rd quarter. Susquehanna International Group LLP now owns 32,314 shares of the company’s stock valued at $46,000 after purchasing an additional 16,200 shares during the period. Jane Street Group LLC bought a new stake in Vivani Medical in the 4th quarter valued at $60,000. Renaissance Technologies LLC grew its holdings in Vivani Medical by 118.4% in the 4th quarter. Renaissance Technologies LLC now owns 97,985 shares of the company’s stock valued at $121,000 after buying an additional 53,127 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in Vivani Medical in the 4th quarter valued at $174,000. 6.78% of the stock is currently owned by institutional investors and hedge funds.

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.