Gregg Williams Purchases 1,737,764 Shares of Vivani Medical (NASDAQ:VANI) Stock

Vivani Medical, Inc. (NASDAQ:VANI) Director Gregg Williams bought 1,737,764 shares of the company’s stock in a transaction that occurred on Wednesday, October 15th. The stock was purchased at an average price of $1.14 per share, for a total transaction of $1,981,050.96. Following the transaction, the director owned 17,647,112 shares of the company’s stock, valued at $20,117,707.68. The trade was a 10.92% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.

Gregg Williams also recently made the following trade(s):

• On Monday, September 15th, Gregg Williams purchased 2,068,453 shares of Vivani Medical stock. The shares were acquired at an average cost of $1.16 per share, with a total value of $2,399,405.48.

Vivani Medical Trading Up 14.2%

Shares of NASDAQ VANI opened at $1.69 on Friday. The company has a 50 day simple moving average of $1.32 and a two-hundred day simple moving average of $1.24. The stock has a market cap of $100.12 million, a price-to-earnings ratio of -3.76 and a beta of 3.18. Vivani Medical, Inc. has a 12 month low of $0.91 and a 12 month high of $1.80.

Vivani Medical (NASDAQ:VANI) last released its quarterly earnings data on Wednesday, August 13th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02). Analysts forecast that Vivani Medical, Inc. will post -0.41 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. HC Wainwright reiterated a “buy” rating and set a $4.00 price objective on shares of Vivani Medical in a research note on Tuesday, September 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vivani Medical in a report on Tuesday. Finally, Zacks Research downgraded Vivani Medical from a “hold” rating to a “strong sell” rating in a report on Tuesday. One analyst has rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $4.00.

Institutional Investors Weigh In On Vivani Medical

A number of institutional investors have recently modified their holdings of the business. Connective Capital Management LLC increased its stake in shares of Vivani Medical by 796.2% in the 1st quarter. Connective Capital Management LLC now owns 162,098 shares of the company’s stock valued at $170,000 after purchasing an additional 144,010 shares in the last quarter. Wealthedge Investment Advisors LLC grew its holdings in Vivani Medical by 238.8% in the first quarter. Wealthedge Investment Advisors LLC now owns 125,033 shares of the company’s stock valued at $131,000 after purchasing an additional 88,132 shares during the period. Finally, Panagora Asset Management Inc. purchased a new stake in shares of Vivani Medical in the second quarter valued at approximately $25,000. 6.78% of the stock is currently owned by institutional investors and hedge funds.

Vivani Medical Company Profile

Vivani Medical, Inc, a clinical stage company, develops various implants that treat chronic diseases with high unmet medical need. It engages in developing a portfolio of miniature drug implants to deliver minimally fluctuating drug profiles; and implantable visual prostheses devices to deliver useful artificial vision to blind individuals.