Vivani Medical (NASDAQ:VANI) Posts Earnings Results, Beats Estimates By $0.01 EPS

Vivani Medical (NASDAQ:VANI) issued its quarterly earnings results on Thursday. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.01, FiscalAI reports.

Vivani Medical Trading Down 9.5%

Shares of VANI traded down $0.15 on Thursday, reaching $1.39. 190,911 shares of the company’s stock were exchanged, compared to its average volume of 154,050. The business has a 50 day moving average price of $1.46 and a two-hundred day moving average price of $1.32. Vivani Medical has a 12 month low of $0.91 and a 12 month high of $1.92. The stock has a market capitalization of $87.60 million, a P/E ratio of -3.08 and a beta of 3.15.

Analyst Upgrades and Downgrades

VANI has been the topic of a number of research reports. HC Wainwright reiterated a “buy” rating and set a $4.00 target price on shares of Vivani Medical in a research report on Tuesday, September 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vivani Medical in a report on Tuesday, October 14th. Finally, Zacks Research lowered Vivani Medical from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. One analyst has rated the stock with a Buy rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $4.00.

Insider Activity

In related news, Director Gregg Williams bought 3,703,703 shares of the firm’s stock in a transaction dated Monday, October 27th. The stock was bought at an average cost of $1.62 per share, for a total transaction of $5,999,998.86. Following the transaction, the director owned 21,350,815 shares of the company’s stock, valued at $34,588,320.30. This represents a 20.99% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders bought 7,509,920 shares of company stock worth $10,380,455. 46.40% of the stock is currently owned by insiders.

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.