Vivani Medical (NASDAQ:VANI) Posts Earnings Results

Vivani Medical (NASDAQ:VANI) issued its quarterly earnings results on Wednesday. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01), Zacks reports.

Vivani Medical Stock Down 1.7%

Shares of VANI traded down $0.02 during mid-day trading on Wednesday, hitting $1.13. The company had a trading volume of 134,393 shares, compared to its average volume of 318,191. The business’s 50-day simple moving average is $1.20 and its 200-day simple moving average is $1.25. Vivani Medical has a 1-year low of $0.92 and a 1-year high of $1.66. The stock has a market cap of $101.93 million, a PE ratio of -3.23 and a beta of 2.51.

Analyst Upgrades and Downgrades

VANI has been the subject of a number of recent analyst reports. Wall Street Zen downgraded Vivani Medical from a “hold” rating to a “sell” rating in a research report on Saturday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Vivani Medical in a research report on Friday, October 2nd. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Vivani Medical has a consensus rating of “Hold” and an average price target of $3.75.

About Vivani Medical

Vivani Medical, Inc. is a clinical-stage biopharmaceutical company developing miniature, subcutaneous drug implants designed to provide continuous delivery of medicines over extended periods. Its proprietary NanoPortal technology is intended to address challenges associated with conventional dosing, including frequent injections, daily administration and inconsistent medication adherence. The company’s development programs have focused primarily on therapies for metabolic diseases. Its NPM-115 program is designed to deliver exenatide for chronic weight management, while NPM-119 is intended to provide continuous exenatide delivery for the treatment of type 2 diabetes.