Vivani Medical (NASDAQ:VANI) Given Sell (D-) Rating at Weiss Ratings

Key Points

• Vivani Medical has been restated with a "sell (D-)" rating by Weiss Ratings, indicating a negative outlook from analysts.
• HC Wainwright has maintained a "buy" rating with a price target of $4.00, while the average stock rating currently stands at "hold."
• Recent insider trading shows Director Gregg Williams purchased over 2 million shares, increasing his ownership stake significantly.

Vivani Medical (NASDAQ:VANI - Get Free Report)'s stock had its "sell (d-)" rating restated by investment analysts at Weiss Ratings in a note issued to investors on Tuesday,Weiss Ratings reports.

Separately, HC Wainwright restated a "buy" rating and issued a $4.00 price target on shares of Vivani Medical in a report on Tuesday, September 2nd. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $4.00.

Vivani Medical Stock Performance

VANI stock traded down $0.03 during midday trading on Tuesday, hitting $1.33. 14,127 shares of the company's stock were exchanged, compared to its average volume of 113,597. The stock's fifty day moving average price is $1.32 and its 200-day moving average price is $1.24. The company has a market cap of $78.79 million, a PE ratio of -2.94 and a beta of 3.18. 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 posted its earnings results 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, analysts expect that Vivani Medical will post -0.41 EPS for the current year.

Insider Activity

In related news, Director Gregg Williams bought 2,068,453 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were acquired at an average price of $1.16 per share, with a total value of $2,399,405.48. Following the completion of the transaction, the director owned 15,909,348 shares in the company, valued at $18,454,843.68. The trade was a 14.94% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 46.40% of the company's stock.

Institutional Trading of Vivani Medical

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Panagora Asset Management Inc. acquired a new stake in shares of Vivani Medical in the second quarter valued at about $25,000. Wealthedge Investment Advisors LLC increased its position in 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 buying an additional 88,132 shares during the last quarter. Finally, Connective Capital Management LLC increased its position in 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 buying an additional 144,010 shares during the last quarter. Institutional investors and hedge funds own 6.78% of the company's stock.

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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