Vivani Medical (NASDAQ:VANI) Issues Earnings Results

Vivani Medical (NASDAQ:VANI) announced its earnings results on Thursday. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.01, FiscalAI reports.

Vivani Medical Trading Down 2.2%

NASDAQ:VANI traded down $0.03 during mid-day trading on Thursday, hitting $1.34. The stock had a trading volume of 197,082 shares, compared to its average volume of 364,341. The stock has a market capitalization of $115.55 million, a price-to-earnings ratio of -3.35 and a beta of 2.35. The company has a 50 day simple moving average of $1.29 and a 200-day simple moving average of $1.25. Vivani Medical has a 52 week low of $0.92 and a 52 week high of $1.92.

Insider Activity

In other Vivani Medical news, Director Gregg Williams purchased 1,587,301 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was bought at an average price of $1.26 per share, with a total value of $1,999,999.26. Following the completion of the purchase, the director owned 36,119,086 shares in the company, valued at $45,510,048.36. This trade represents a 4.60% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 53.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in VANI. Citadel Advisors LLC acquired a new stake in Vivani Medical in the third quarter worth approximately $26,000. Susquehanna International Group LLP boosted its stake in Vivani Medical by 100.5% during 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 in the last quarter. Jane Street Group LLC acquired a new position in shares of Vivani Medical during the 4th quarter valued at $60,000. Renaissance Technologies LLC increased its position 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 period. Finally, Marshall Wace LLP bought a new stake in shares of Vivani Medical in the 4th quarter worth $174,000. Institutional investors and hedge funds own 6.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on VANI. Weiss Ratings upgraded Vivani Medical from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 7th. Lake Street Capital started coverage on Vivani Medical in a research note on Tuesday, June 23rd. They set a “buy” rating and a $4.00 target price for the company. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $3.75.

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.