HC Wainwright Cuts Vivani Medical (NASDAQ:VANI) Price Target to $3.50

Key Points

• HC Wainwright cut its price target for Vivani Medical from $4.00 to $3.50 but kept a "buy" rating; that target implies roughly a 250% upside from the recent share price.
• Insider buying: Director Gregg Williams bought 1,575,231 shares at about $1.07 on March 15, bringing his stake to 31,357,183 shares, and insiders now own 46.4% after acquiring 4.66M shares in the past 90 days.
• Shares trade near $1.00 with a market cap of $84.7M and negative earnings (last quarter EPS -$0.09; analysts expect -$0.41 for the year), while analyst coverage is mixed (one buy, one hold, one sell; consensus rating "Hold").

Vivani Medical (NASDAQ:VANI - Get Free Report) had its price target decreased by equities research analysts at HC Wainwright from $4.00 to $3.50 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the stock. HC Wainwright's price target would suggest a potential upside of 250.00% from the company's previous close.

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of Vivani Medical in a research report on Friday, January 9th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Vivani Medical presently has an average rating of "Hold" and an average price target of $3.50.

Vivani Medical Stock Up 6.6%

Shares of Vivani Medical stock opened at $1.00 on Tuesday. The business has a fifty day simple moving average of $1.24 and a 200-day simple moving average of $1.35. Vivani Medical has a fifty-two week low of $0.91 and a fifty-two week high of $1.92. The firm has a market cap of $84.65 million, a price-to-earnings ratio of -2.33 and a beta of 3.17.

Vivani Medical (NASDAQ:VANI - Get Free Report) last released its earnings results on Thursday, March 26th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.10) by $0.01. Analysts anticipate that Vivani Medical will post -0.41 earnings per share for the current fiscal year.

Insider Activity

In other Vivani Medical news, Director Gregg Williams bought 1,575,231 shares of Vivani Medical stock in a transaction dated Sunday, March 15th. The stock was bought at an average price of $1.07 per share, for a total transaction of $1,685,497.17. Following the completion of the acquisition, the director directly owned 31,357,183 shares of the company's stock, valued at approximately $33,552,185.81. This trade represents a 5.29% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders acquired a total of 4,664,347 shares of company stock valued at $5,666,549 in the last ninety days. 46.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Tudor Investment Corp ET AL purchased a new stake in Vivani Medical in the 4th quarter worth about $1,127,000. Marshall Wace LLP purchased a new position in Vivani Medical during the 4th quarter valued at about $174,000. Geode Capital Management LLC grew its stake in Vivani Medical by 29.6% during the 4th quarter. Geode Capital Management LLC now owns 461,652 shares of the company's stock valued at $568,000 after acquiring an additional 105,398 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Vivani Medical by 118.4% in 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, Jane Street Group LLC acquired a new position in shares of Vivani Medical in the 4th quarter valued at about $60,000. 6.78% of the stock is owned by institutional investors and hedge funds.

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.

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