Wall Street Zen Upgrades Vivani Medical (NASDAQ:VANI) to "Hold"

Key Points

• Wall Street Zen upgraded Vivani Medical from “sell” to “hold,” bringing the consensus rating to “Hold” with an average price target of $3.75.
• Analyst opinions remain mixed: Lake Street Capital initiated coverage with a “buy” rating and a $4.00 target, while two analysts rate the stock Buy, one Hold, and one Sell.
• Vivani shares opened at $1.40, with a 52-week range of $0.92 to $1.92. The company reported a quarterly loss of $0.07 per share, beating estimates by $0.01, and director Gregg Williams increased his holdings by purchasing nearly 1.59 million shares.

Vivani Medical (NASDAQ:VANI - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

Several other research analysts also recently commented on the company. Lake Street Capital started coverage on Vivani Medical in a research note on Tuesday, June 23rd. They set a "buy" rating and a $4.00 target price for the company. Weiss Ratings upgraded Vivani Medical from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, July 7th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $3.75.

Vivani Medical Stock Performance

Shares of NASDAQ:VANI opened at $1.40 on Friday. Vivani Medical has a 52-week low of $0.92 and a 52-week high of $1.92. The company has a market capitalization of $120.74 million, a P/E ratio of -4.00 and a beta of 2.35. The company has a 50-day simple moving average of $1.29 and a 200 day simple moving average of $1.25.

Vivani Medical (NASDAQ:VANI - Get Free Report) last announced its quarterly 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. As a group, equities analysts forecast that Vivani Medical will post -0.3 earnings per share for the current year.

Insider Transactions at Vivani Medical

In related news, Director Gregg Williams acquired 1,587,301 shares of the business's stock in a transaction on Monday, June 15th. The stock was purchased at an average cost of $1.26 per share, for a total transaction of $1,999,999.26. Following the completion of the transaction, the director directly owned 36,119,086 shares of the company's stock, valued at approximately $45,510,048.36. The trade was a 4.60% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 53.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Vivani Medical

A number of large investors have recently made changes to their positions in the company. Citadel Advisors LLC bought a new stake in Vivani Medical in the 3rd quarter valued at $26,000. Susquehanna International Group LLP increased its position in Vivani Medical by 100.5% during the 3rd quarter. Susquehanna International Group LLP now owns 32,314 shares of the company's stock worth $46,000 after buying an additional 16,200 shares during the period. Jane Street Group LLC bought a new position in Vivani Medical during the 4th quarter worth $60,000. Renaissance Technologies LLC lifted its holdings in shares of Vivani Medical by 118.4% during the fourth quarter. Renaissance Technologies LLC now owns 97,985 shares of the company's stock worth $121,000 after buying an additional 53,127 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Vivani Medical during the fourth quarter worth $174,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source