Vivani Medical (NASDAQ:VANI) Earns “Buy” Rating from HC Wainwright

Vivani Medical (NASDAQ:VANI)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $4.00 target price on the stock. HC Wainwright’s target price would suggest a potential upside of 247.83% from the company’s current price.

Vivani Medical Stock Performance

Shares of Vivani Medical stock opened at $1.15 on Wednesday. The firm has a 50-day moving average of $1.14 and a 200-day moving average of $1.21. Vivani Medical has a 52-week low of $1.03 and a 52-week high of $2.22. The stock has a market cap of $68.12 million, a PE ratio of -2.56 and a beta of 3.20.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in VANI. Jane Street Group LLC bought a new stake in shares of Vivani Medical in the fourth quarter valued at approximately $66,000. Wealthedge Investment Advisors LLC bought a new stake in shares of Vivani Medical during the 4th quarter valued at $43,000. Geode Capital Management LLC grew its stake in Vivani Medical by 4.6% during the third quarter. Geode Capital Management LLC now owns 342,891 shares of the company’s stock worth $401,000 after buying an additional 15,008 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Vivani Medical by 19.1% in the 4th 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 during the period. Institutional investors and hedge funds own 6.78% of the company’s stock.

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.