Vivani Medical (NASDAQ:VANI) Shares Down 2.6% – Here’s What Happened

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

Wall Street Analysts Forecast Growth

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

Vivani Medical Stock Performance

The stock’s 50-day moving average is $1.29 and its 200 day moving average is $1.36. The stock has a market capitalization of $89.11 million, a PE ratio of -2.53 and a beta of 3.17.

Insider Activity

In other news, Director Gregg Williams acquired 1,737,765 shares of the company’s stock in a transaction on Thursday, January 15th. The shares were bought at an average price of $1.14 per share, with a total value of $1,981,052.10. Following the completion of the acquisition, the director owned 26,564,109 shares in the company, valued at $30,283,084.26. This trade represents a 7.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders bought a total of 4,826,881 shares of company stock worth $5,962,104 over the last 90 days. Company insiders own 46.40% of the company’s stock.

Institutional Trading of Vivani Medical

Large investors have recently made changes to their positions in the company. Panagora Asset Management Inc. purchased a new position in Vivani Medical during the 2nd quarter worth approximately $25,000. Citadel Advisors LLC purchased a new stake in Vivani Medical in the third quarter valued at approximately $26,000. Susquehanna International Group LLP lifted its stake in Vivani Medical by 100.5% in the third quarter. Susquehanna International Group LLP now owns 32,314 shares of the company’s stock valued at $46,000 after buying an additional 16,200 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Vivani Medical in the fourth quarter valued at approximately $60,000. Finally, Renaissance Technologies LLC boosted its holdings 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. 6.78% of the stock is owned by institutional investors and hedge funds.

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.