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Gregg Williams, a director and ten percent owner at Vivani Medical (TASE:BLWV), Inc. (NASDAQ:VANI), has made a notable investment in the company’s stock. According to a recent SEC filing, Williams acquired a total of 20,840 shares of Vivani Medical common stock over two transactions on April 9 and April 11. The purchases were made at prices ranging from $1.01 to $1.02 per share, amounting to a total investment of $21,233. The transactions occurred near the stock’s 52-week low of $0.91, with the shares having declined over 50% in the past year. InvestingPro analysis indicates the stock is currently trading slightly below its Fair Value.
Following these transactions, Williams now holds a significant position in the company, with a total of 13,825,230 shares owned indirectly through various trusts and investment entities. The shares are held under the Gregg G. Williams 2006 Trust, Williams International Co. LLC, Sam Williams Family Investments LLC, and the Sam B. Williams 1995 Generation-Skipping Trust, over which Williams retains voting and dispositive power. With a current market capitalization of $60.13 million, InvestingPro data shows analysts have set an ambitious price target of $4.00, suggesting significant upside potential. Subscribers can access additional insights and 7 more ProTips about VANI’s financial health and market position.
In other recent news, Vivani Medical, Inc. reported a net loss of $23.5 million for 2024, closely aligning with H.C. Wainwright’s expectations. The company has also secured $8.25 million through a private placement to advance the development of its drug implants, notably NPM-115 and NPM-139. H.C. Wainwright reaffirmed its Buy rating on Vivani Medical, maintaining a $4 price target, reflecting confidence in the company’s progress and its NanoPortal technology. Vivani successfully completed enrollment for the Phase 1 LIBERATE-1 trial of the exenatide implant NPM-115, which aims to deliver results by mid-2025. Additionally, promising preclinical data for NPM-139 showed significant weight loss in rats, supporting its potential as a long-acting treatment for chronic weight management. The LIBERATE-1 trial is a significant step in exploring the pharmacokinetics of NPM-115, which could impact the treatment of metabolic diseases. The company is leveraging Australian research and development rebates to manage clinical trial costs. Vivani’s implants are designed to improve medication adherence by reducing dosing frequency, a crucial factor in chronic disease management.
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