Vivani Medical (NASDAQ:VANI) Releases Quarterly Earnings Results

Vivani Medical (NASDAQ:VANI) announced its quarterly earnings data on Thursday. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.01, FiscalAI reports.

Vivani Medical Stock Up 4.4%

Shares of NASDAQ:VANI traded up $0.06 during trading on Friday, reaching $1.42. 105,495 shares of the company traded hands, compared to its average volume of 154,512. The firm has a fifty day simple moving average of $1.46 and a 200 day simple moving average of $1.32. Vivani Medical has a 1-year low of $0.91 and a 1-year high of $1.92. The firm has a market cap of $89.50 million, a P/E ratio of -3.14 and a beta of 3.15.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on VANI. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vivani Medical in a research report on Tuesday, October 14th. HC Wainwright reaffirmed a “buy” rating and set a $4.00 price objective on shares of Vivani Medical in a research note on Tuesday, September 2nd. Finally, Zacks Research upgraded shares of Vivani Medical from a “strong sell” rating to a “hold” rating in a report on Wednesday. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $4.00.

Insider Buying and Selling at Vivani Medical

In other news, Director Gregg Williams acquired 3,703,703 shares of the business’s stock in a transaction that occurred on Monday, October 27th. The stock was acquired at an average cost of $1.62 per share, for a total transaction of $5,999,998.86. Following the completion of the acquisition, the director owned 21,350,815 shares in the company, valued at approximately $34,588,320.30. The trade was a 20.99% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have acquired 7,509,920 shares of company stock valued at $10,380,455 over the last 90 days. Corporate insiders own 46.40% of the company’s stock.

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.