Vivani Medical, Inc. (NASDAQ:VANI) Short Interest Down 32.5% in August

Key Points

• Short interest in Vivani Medical, Inc. decreased by 32.5% in August, falling from 368,300 shares to 248,500 shares, which represents approximately 0.8% of the company's total stock.
• Shares of Vivani Medical (NASDAQ:VANI) are currently trading at $1.29, down 5.8%, with a 52-week range between $0.91 and $1.80.
• Analysts have issued a "buy" rating for Vivani Medical with a target price of $4.00, reflecting positive sentiment around the company's future performance.

Vivani Medical, Inc. (NASDAQ:VANI - Get Free Report) was the recipient of a significant decrease in short interest during the month of August. As of August 15th, there was short interest totaling 248,500 shares, a decrease of 32.5% from the July 31st total of 368,300 shares. Based on an average daily trading volume, of 134,900 shares, the short-interest ratio is currently 1.8 days. Approximately 0.8% of the company's stock are short sold. Approximately 0.8% of the company's stock are short sold. Based on an average daily trading volume, of 134,900 shares, the short-interest ratio is currently 1.8 days.

Hedge Funds Weigh In On Vivani Medical

Large investors have recently made changes to their positions in the business. Panagora Asset Management Inc. acquired a new stake in Vivani Medical in the 2nd quarter valued at approximately $25,000. Connective Capital Management LLC boosted its position in shares of Vivani Medical by 796.2% in the first quarter. Connective Capital Management LLC now owns 162,098 shares of the company's stock valued at $170,000 after acquiring an additional 144,010 shares during the period. Wealthedge Investment Advisors LLC grew its stake 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 worth $131,000 after acquiring an additional 88,132 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Vivani Medical in the fourth quarter worth $66,000. Finally, Northern Trust Corp increased its position in 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 acquiring an additional 11,540 shares during the period. Institutional investors and hedge funds own 6.78% of the company's stock.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a "buy" rating and issued 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 data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $4.00.

Vivani Medical Price Performance

Shares of NASDAQ VANI traded up $0.01 during trading hours on Friday, hitting $1.21. 44,448 shares of the stock were exchanged, compared to its average volume of 53,898. The company's 50 day moving average is $1.34 and its 200 day moving average is $1.19. The firm has a market capitalization of $71.68 million, a P/E ratio of -2.69 and a beta of 3.12. Vivani Medical has a one year low of $0.91 and a one year high of $1.80.

Vivani Medical (NASDAQ:VANI - Get Free Report) last announced its earnings results on Wednesday, August 13th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.02). Research analysts anticipate that Vivani Medical will post -0.41 earnings per share for the current fiscal year.

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.