HC Wainwright Lowers Earnings Estimates for Vivani Medical

Vivani Medical, Inc. (NASDAQ:VANI) – HC Wainwright reduced their FY2024 earnings estimates for shares of Vivani Medical in a note issued to investors on Thursday, March 13th. HC Wainwright analyst Y. Chen now forecasts that the company will earn ($0.43) per share for the year, down from their prior forecast of ($0.41). HC Wainwright currently has a “Buy” rating and a $4.00 target price on the stock. The consensus estimate for Vivani Medical’s current full-year earnings is ($0.41) per share. HC Wainwright also issued estimates for Vivani Medical’s Q1 2025 earnings at ($0.10) EPS, Q3 2025 earnings at ($0.09) EPS, Q4 2025 earnings at ($0.09) EPS and FY2025 earnings at ($0.39) EPS.

Vivani Medical Stock Performance

VANI stock opened at $1.09 on Monday. The stock’s 50 day simple moving average is $1.16 and its 200 day simple moving average is $1.22. The company has a market cap of $64.57 million, a P/E ratio of -2.42 and a beta of 3.20. Vivani Medical has a fifty-two week low of $1.03 and a fifty-two week high of $2.22.

Hedge Funds Weigh In On Vivani Medical

Institutional investors have recently modified their holdings of the company. Geode Capital Management LLC grew its position in Vivani Medical by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 342,891 shares of the company’s stock valued at $401,000 after purchasing an additional 15,008 shares during the period. Northern Trust Corp lifted its stake in shares of 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 in the last quarter. Jane Street Group LLC acquired a new position in shares of Vivani Medical during the fourth quarter valued at about $66,000. Finally, Wealthedge Investment Advisors LLC bought a new stake in shares of Vivani Medical during the fourth quarter worth about $43,000. 6.78% of the stock is 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.