Tanager Wealth Management LLP Sells 202,654 Shares of Vivani Medical, Inc. $VANI

Key Points

• Tanager Wealth Management LLP sold 202,654 shares of Vivani Medical, reducing its stake by 16.6%, and now holds approximately 1.72% of the company valued at $1.3 million.
• Director Gregg Williams acquired 2,068,453 shares at an average price of $1.16 per share, increasing his stake by 14.94% to a total of approximately $18.45 million.
• Wall Street analysts have a consensus "Buy" rating on Vivani Medical, with a price target of $4.00, indicating potential for future growth.

Tanager Wealth Management LLP trimmed its position in shares of Vivani Medical, Inc. (NASDAQ:VANI - Free Report) by 16.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,021,169 shares of the company's stock after selling 202,654 shares during the quarter. Tanager Wealth Management LLP owned approximately 1.72% of Vivani Medical worth $1,317,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Jane Street Group LLC bought a new stake in Vivani Medical during the fourth quarter worth about $66,000. Northern Trust Corp lifted its position in shares of Vivani Medical by 19.1% during the fourth quarter. Northern Trust Corp now owns 71,915 shares of the company's stock worth $83,000 after purchasing an additional 11,540 shares in the last quarter. Wealthedge Investment Advisors LLC lifted its position in shares of Vivani Medical by 238.8% during the first quarter. Wealthedge Investment Advisors LLC now owns 125,033 shares of the company's stock worth $131,000 after purchasing an additional 88,132 shares in the last quarter. Finally, Connective Capital Management LLC lifted its position in shares of Vivani Medical by 796.2% during the first quarter. Connective Capital Management LLC now owns 162,098 shares of the company's stock worth $170,000 after purchasing an additional 144,010 shares in the last quarter. 6.78% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Vivani Medical news, Director Gregg Williams acquired 2,068,453 shares of the business's stock in a transaction that occurred on Monday, September 15th. The shares were acquired at an average cost of $1.16 per share, for a total transaction of $2,399,405.48. Following the completion of the acquisition, the director directly owned 15,909,348 shares of the company's stock, valued at approximately $18,454,843.68. This represents a 14.94% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 46.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, 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. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, Vivani Medical currently has a consensus rating of "Buy" and a consensus price target of $4.00.

Vivani Medical Trading Up 2.1%

Shares of VANI stock opened at $1.44 on Thursday. The firm's 50 day moving average is $1.33 and its 200-day moving average is $1.22. Vivani Medical, Inc. has a 1 year low of $0.91 and a 1 year high of $1.80. The firm has a market capitalization of $85.31 million, a price-to-earnings ratio of -3.20 and a beta of 3.18.

Vivani Medical (NASDAQ:VANI - Get Free Report) last announced its quarterly earnings data on Wednesday, August 13th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.02). On average, equities research analysts forecast that Vivani Medical, Inc. will post -0.41 earnings per share for the current fiscal year.

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.

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