Vivani Medical (NASDAQ:VANI) Upgraded by Lake Street Capital to Strong-Buy Rating

Vivani Medical (NASDAQ:VANI) was upgraded by analysts at Lake Street Capital to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

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

Vivani Medical Stock Performance

Shares of VANI opened at $1.19 on Tuesday. The business has a 50-day moving average of $1.22 and a 200 day moving average of $1.25. Vivani Medical has a fifty-two week low of $0.92 and a fifty-two week high of $1.92. The firm has a market cap of $102.63 million, a P/E ratio of -2.97 and a beta of 2.31.

Vivani Medical (NASDAQ:VANI) last announced its quarterly earnings data on Wednesday, May 13th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.08). As a group, research analysts predict that Vivani Medical will post -0.3 earnings per share for the current fiscal year.

Insider Buying and Selling 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 shares were bought at an average cost of $1.26 per share, for a total transaction of $1,999,999.26. Following the purchase, the director owned 36,119,086 shares in the company, valued at $45,510,048.36. This trade 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 acquired 4,761,903 shares of company stock valued at $5,999,998 in the last three months. 53.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in VANI. Citadel Advisors LLC purchased a new position in Vivani Medical during the 3rd quarter valued at about $26,000. Susquehanna International Group LLP lifted its holdings in shares of Vivani Medical by 100.5% in the third 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 in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Vivani Medical by 29.6% in the fourth quarter. Geode Capital Management LLC now owns 461,652 shares of the company’s stock worth $568,000 after buying an additional 105,398 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of 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 acquiring an additional 53,127 shares during the period. Finally, Jane Street Group LLC bought a new position in shares of Vivani Medical in the fourth quarter valued at approximately $60,000. 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.