Short Interest in Vivani Medical, Inc. (NASDAQ:VANI) Increases By 420.1%

Vivani Medical, Inc. (NASDAQ:VANI) saw a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 938,800 shares, an increase of 420.1% from the February 29th total of 180,500 shares. Based on an average daily volume of 2,970,000 shares, the days-to-cover ratio is presently 0.3 days. Currently, 3.4% of the shares of the company are sold short.

Hedge Funds Weigh In On Vivani Medical

Large investors have recently bought and sold shares of the stock. Commonwealth Equity Services LLC acquired a new position in shares of Vivani Medical in the third quarter valued at $822,000. BlackRock Inc. bought a new stake in shares of Vivani Medical in the 3rd quarter valued at approximately $734,000. Vanguard Group Inc. acquired a new position in shares of Vivani Medical in the 3rd quarter worth approximately $682,000. Millennium Management LLC boosted its stake in Vivani Medical by 595.2% in the 4th quarter. Millennium Management LLC now owns 138,332 shares of the company’s stock valued at $118,000 after buying an additional 118,433 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in Vivani Medical in the fourth quarter valued at $48,000. 6.78% of the stock is currently owned by institutional investors and hedge funds.

Vivani Medical Stock Down 1.6 %

Shares of VANI stock opened at $1.85 on Thursday. The stock has a 50 day moving average of $1.55 and a 200-day moving average of $1.19. The firm has a market cap of $94.41 million, a PE ratio of -3.70 and a beta of 3.34. Vivani Medical has a 12 month low of $0.75 and a 12 month high of $7.80.

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.