Vivani Medical (NASDAQ:VANI) Stock Rating Upgraded by Lake Street Capital

Vivani Medical (NASDAQ:VANI) was upgraded by Lake Street Capital to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other equities analysts have also issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vivani Medical in a report on Tuesday, June 9th. HC Wainwright dropped their price target on Vivani Medical from $4.00 to $3.50 and set a “buy” rating on the stock in a report on Tuesday, March 31st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $3.75.

Vivani Medical Stock Performance

Shares of VANI stock opened at $1.19 on Tuesday. Vivani Medical has a 52-week low of $0.92 and a 52-week high of $1.92. The company has a 50-day simple moving average of $1.22 and a two-hundred day simple moving average of $1.25. The company has a market capitalization of $102.63 million, a price-to-earnings ratio of -2.97 and a beta of 2.31.

Vivani Medical (NASDAQ:VANI) last posted its earnings results on Wednesday, May 13th. The company reported ($0.08) EPS for the quarter, hitting the consensus estimate of ($0.08). On average, sell-side analysts forecast that Vivani Medical will post -0.3 EPS for the current fiscal year.

Insider Transactions at Vivani Medical

In related news, Director Gregg Williams acquired 1,587,301 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was acquired at an average price of $1.26 per share, for a total transaction of $1,999,999.26. Following the completion of the acquisition, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have bought a total of 4,761,903 shares of company stock worth $5,999,998 in the last three months. Company insiders own 53.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VANI. Tudor Investment Corp ET AL bought a new position in shares of Vivani Medical during the 4th quarter valued at approximately $1,127,000. Marshall Wace LLP bought a new stake in shares of Vivani Medical in the 4th quarter worth approximately $174,000. State Street Corp raised its holdings in shares of Vivani Medical by 12.5% in the 4th quarter. State Street Corp now owns 144,865 shares of the company’s stock worth $178,000 after purchasing an additional 16,070 shares during the period. Jane Street Group LLC purchased a new position in Vivani Medical in the fourth quarter valued at approximately $60,000. Finally, Renaissance Technologies LLC lifted its stake in Vivani Medical by 118.4% in the fourth 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. 6.78% of the stock is currently owned by hedge funds and other institutional investors.

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.