Vivani Medical (NASDAQ:VANI) Trading Down 2.3% - Time to Sell?

Vivani Medical, Inc. (NASDAQ:VANI - Get Free Report) fell 2.3% during mid-day trading on Monday . The stock traded as low as $1.28 and last traded at $1.29. 69,530 shares traded hands during mid-day trading, a decline of 31% from the average session volume of 100,555 shares. The stock had previously closed at $1.32.

Analyst Ratings Changes

Separately, HC Wainwright restated a "buy" rating and issued a $4.00 target price on shares of Vivani Medical in a research note on Monday, May 19th.

Vivani Medical Stock Down 2.3%

The stock has a 50-day moving average of $1.13 and a 200 day moving average of $1.13. The stock has a market cap of $74.64 million, a PE ratio of -2.93 and a beta of 2.93.

Vivani Medical (NASDAQ:VANI - Get Free Report) last released its quarterly earnings data on Tuesday, May 13th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.01). On average, equities analysts anticipate that Vivani Medical, Inc. will post -0.41 EPS for the current year.

Insiders Place Their Bets

In related news, Director Gregg Williams acquired 44,400 shares of the firm's stock in a transaction dated Monday, April 7th. The stock was acquired at an average price of $0.99 per share, with a total value of $43,956.00. Following the acquisition, the director directly owned 4,799,200 shares in the company, valued at $4,751,208. This represents a 0.93% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders bought 116,662 shares of company stock worth $116,446. 46.40% of the stock is currently owned by company insiders.

Institutional Trading of Vivani Medical

Several hedge funds and other institutional investors have recently bought and sold shares of VANI. Connective Capital Management LLC boosted its position in 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 increased its holdings in shares of Vivani Medical by 238.8% during the 1st quarter. Wealthedge Investment Advisors LLC now owns 125,033 shares of the company's stock valued at $131,000 after purchasing an additional 88,132 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Vivani Medical in the 4th quarter valued at $66,000. Finally, Northern Trust Corp boosted its holdings 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 buying an additional 11,540 shares in the last quarter. 6.78% of the stock is owned by institutional investors and hedge funds.

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.