Gregg Williams Acquires 1,737,764 Shares of Vivani Medical (NASDAQ:VANI) Stock

Key Points

• Gregg Williams, a director at Vivani Medical, acquired 1,737,764 shares of the company’s stock at an average price of $1.14 per share, increasing his total ownership to approximately $20.1 million.
• Despite the recent stock acquisition, Vivani Medical reported a loss of $0.12 EPS for the last quarter, missing analyst expectations.
• Analysts have mixed opinions on Vivani Medical’s stock, with one buy rating and two sell ratings, while the average price target stands at $4.00.

Vivani Medical, Inc. (NASDAQ:VANI - Get Free Report) Director Gregg Williams purchased 1,737,764 shares of the business's stock in a transaction on Wednesday, October 15th. The shares were acquired at an average cost of $1.14 per share, with a total value of $1,981,050.96. Following the acquisition, the director directly owned 17,647,112 shares in the company, valued at approximately $20,117,707.68. The trade was a 10.92% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Gregg Williams also recently made the following trade(s):

• On Monday, September 15th, Gregg Williams acquired 2,068,453 shares of Vivani Medical stock. The shares were purchased at an average price of $1.16 per share, for a total transaction of $2,399,405.48.

Vivani Medical Stock Performance

Shares of NASDAQ VANI traded up $0.08 during mid-day trading on Thursday, reaching $1.40. The company had a trading volume of 134,025 shares, compared to its average volume of 113,482. Vivani Medical, Inc. has a one year low of $0.91 and a one year high of $1.80. The firm has a market cap of $82.94 million, a price-to-earnings ratio of -3.12 and a beta of 3.18. The business's 50-day simple moving average is $1.32 and its 200 day simple moving average is $1.24.

Vivani Medical (NASDAQ:VANI - Get Free Report) last released its earnings results on Wednesday, August 13th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.02). On average, sell-side analysts anticipate that Vivani Medical, Inc. will post -0.41 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Weiss Ratings restated a "sell (d-)" rating on shares of Vivani Medical in a report on Tuesday. HC Wainwright reaffirmed a "buy" rating and set a $4.00 price target on shares of Vivani Medical in a research report on Tuesday, September 2nd. Finally, Zacks Research cut Vivani Medical from a "hold" rating to a "strong sell" rating in a report on Tuesday. One equities research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Reduce" and an average price target of $4.00.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Connective Capital Management LLC increased its holdings in shares of Vivani Medical by 796.2% in the 1st 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. Wealthedge Investment Advisors LLC lifted its position in shares of Vivani Medical by 238.8% in the first quarter. Wealthedge Investment Advisors LLC now owns 125,033 shares of the company's stock valued at $131,000 after acquiring an additional 88,132 shares in the last quarter. Finally, Panagora Asset Management Inc. purchased a new stake in shares of Vivani Medical in the second quarter worth about $25,000. Hedge funds and other institutional investors 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.

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