Vivani Medical (NASDAQ:VANI) Stock Price Down 2.6% – Should You Sell?

Shares of Vivani Medical, Inc. (NASDAQ:VANI) were down 2.6% on Wednesday . The stock traded as low as $1.14 and last traded at $1.14. Approximately 200,438 shares traded hands during trading, a decline of 3% from the average daily volume of 206,206 shares. The stock had previously closed at $1.17.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on VANI shares. Wall Street Zen upgraded shares of Vivani Medical to a “sell” rating in a research report on Saturday, November 22nd. Zacks Research raised shares of Vivani Medical from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Vivani Medical in a report on Friday, January 9th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $4.00.

Vivani Medical Stock Performance

The company has a 50 day moving average of $1.29 and a 200-day moving average of $1.36. The stock has a market cap of $89.11 million, a price-to-earnings ratio of -2.53 and a beta of 3.17.

Insider Activity

In other Vivani Medical news, Director Gregg Williams acquired 1,351,351 shares of the stock in a transaction dated Tuesday, January 27th. The stock was acquired at an average price of $1.48 per share, with a total value of $1,999,999.48. Following the completion of the purchase, the director owned 27,915,460 shares in the company, valued at $41,314,880.80. This trade represents a 5.09% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have bought a total of 4,826,881 shares of company stock worth $5,962,104 over the last 90 days. 46.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Panagora Asset Management Inc. acquired a new position in Vivani Medical during the 2nd quarter worth approximately $25,000. Citadel Advisors LLC acquired a new stake in shares of Vivani Medical in the 3rd quarter valued at $26,000. Susquehanna International Group LLP lifted its position in shares of 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 purchasing an additional 16,200 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Vivani Medical during the fourth quarter worth $60,000. Finally, Renaissance Technologies LLC grew its stake 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 purchasing an additional 53,127 shares in the last quarter. Hedge funds and other institutional investors own 6.78% of the company’s stock.

About Vivani Medical

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.