Vivani Medical (NASDAQ:VANI) Stock Price Down 9.1% – Time to Sell?

Shares of Vivani Medical, Inc. (NASDAQ:VANI) traded down 9.1% during trading on Tuesday . The stock traded as low as $1.34 and last traded at $1.3550. 465,804 shares traded hands during trading, an increase of 128% from the average session volume of 204,506 shares. The stock had previously closed at $1.49.

Analyst Upgrades and Downgrades

VANI has been the subject of several research reports. Wall Street Zen upgraded shares of Vivani Medical from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Weiss Ratings upgraded Vivani Medical from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 7th. Finally, Lake Street Capital started coverage on Vivani Medical in a report on Tuesday, June 23rd. They set a “buy” rating and a $4.00 price target for the company. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $3.75.

Vivani Medical Trading Down 4.9%

The firm has a market cap of $112.75 million, a price-to-earnings ratio of -3.57 and a beta of 2.36. The firm’s 50 day simple moving average is $1.38 and its two-hundred day simple moving average is $1.26.

Vivani Medical (NASDAQ:VANI) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. As a group, equities research analysts anticipate that Vivani Medical, Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Vivani Medical

In related news, Director Gregg Williams bought 1,587,301 shares of Vivani Medical stock in a transaction dated Monday, June 15th. The shares were bought at an average cost of $1.26 per share, with a total value of $1,999,999.26. Following the acquisition, 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 document filed with the SEC, which is available through this link. Insiders own 53.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Citadel Advisors LLC acquired a new stake in Vivani Medical during the third quarter worth about $26,000. Susquehanna International Group LLP increased its holdings 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 buying an additional 16,200 shares during the period. Jane Street Group LLC acquired a new position in shares of Vivani Medical in the 4th quarter valued at approximately $60,000. Renaissance Technologies LLC lifted its holdings 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 worth $121,000 after acquiring an additional 53,127 shares during the period. Finally, Marshall Wace LLP bought a new stake in shares of Vivani Medical during the 4th quarter worth approximately $174,000. Institutional investors and hedge funds own 6.78% of the company’s stock.

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.