Vivani Medical (NASDAQ:VANI) Trading Down 9.1% - Here's What Happened

Key Points

• Vivani Medical shares fell 9.1% to $1.355, with trading volume rising 128% above the average session level.
• Analyst sentiment is mixed: the stock has an average “Hold” rating and a consensus price target of $3.75, while Lake Street Capital initiated coverage with a “Buy” rating and a $4.00 target.
• The company’s latest quarterly loss of $0.07 per share was slightly better than estimates, and director Gregg Williams bought nearly 1.6 million shares; insiders collectively own 53.3% of the stock.

Vivani Medical, Inc. (NASDAQ:VANI - Get Free Report) shares traded down 9.1% 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.

Wall Street Analyst Weigh In

VANI has been the topic of several research analyst reports. Lake Street Capital assumed coverage on Vivani Medical in a report on Tuesday, June 23rd. They issued a "buy" rating and a $4.00 price objective on the stock. Weiss Ratings upgraded Vivani Medical from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, July 7th. Finally, Wall Street Zen raised Vivani Medical from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Vivani Medical currently has an average rating of "Hold" and a consensus target price of $3.75.

Vivani Medical Stock Performance

The company has a market cap of $122.22 million, a PE ratio of -3.87 and a beta of 2.36. The firm's 50 day moving average is $1.38 and its 200-day moving average is $1.26.

Vivani Medical (NASDAQ:VANI - Get Free Report) last released its earnings results on Thursday, August 13th. The company reported ($0.07) earnings per share for the quarter, topping analysts' consensus estimates of ($0.08) by $0.01. On average, analysts predict that Vivani Medical, Inc. will post -0.3 EPS for the current year.

Insider Buying and Selling

In related news, Director Gregg Williams acquired 1,587,301 shares of the stock in a transaction on Monday, June 15th. The shares were bought at an average price of $1.26 per share, with a total value of $1,999,999.26. Following the completion of the purchase, the director owned 36,119,086 shares of the company's stock, valued at approximately $45,510,048.36. This represents a 4.60% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 53.30% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Citadel Advisors LLC acquired a new position in shares of Vivani Medical during the 3rd quarter valued at about $26,000. Susquehanna International Group LLP raised its stake in Vivani Medical by 100.5% during the third quarter. Susquehanna International Group LLP now owns 32,314 shares of the company's stock worth $46,000 after purchasing an additional 16,200 shares during the period. Jane Street Group LLC purchased a new position in Vivani Medical during the fourth quarter worth about $60,000. Renaissance Technologies LLC boosted its holdings in 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 last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Vivani Medical in the 4th quarter valued at approximately $174,000. Hedge funds and other institutional investors own 6.78% of the company's stock.

Vivani Medical Company Profile

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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