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Vivani Medical (TASE:BLWV), Inc. (NASDAQ:VANI) saw significant insider activity as Director and major shareholder Gregg Williams purchased a substantial amount of the company's stock. According to a recent SEC filing, Williams acquired a total of 147,482 shares over several transactions between April 4 and April 8, 2025. The transactions were executed at prices ranging from $0.98 to $1.02 per share, amounting to a total investment of approximately $205,258. According to InvestingPro data, the stock is currently trading near its Fair Value, with analysts setting an ambitious price target of $4.00 per share.
The purchases were made on the open market and include both direct and indirect acquisitions. Williams now holds a significant stake in the company, with a total ownership of 13,804,390 shares, including those held indirectly through various trusts and investment entities. This move underscores Williams' continued confidence in Vivani Medical's prospects as the company continues to operate within the electromedical and electrotherapeutic apparatus industry. InvestingPro analysis reveals the company maintains a healthy current ratio of 3.41, though it faces challenges with cash burn. Subscribers can access 8 additional ProTips and comprehensive financial metrics at InvestingPro.
In other recent news, Vivani Medical, Inc. reported its 2024 financial outcomes, revealing a net loss of $23.5 million, or $0.43 per share, closely aligning with analyst expectations. The company has also successfully completed full enrollment for its Phase 1 LIBERATE-1 trial of the exenatide implant NPM-115, a significant step forward in its clinical development. Additionally, Vivani Medical secured $8.25 million through a private placement to support the development of its semaglutide implant, NPM-139, aimed at chronic weight management. H.C. Wainwright maintained a Buy rating on Vivani Medical, with a $4 price target, following positive preclinical data for NPM-139, which demonstrated significant weight loss in a study with healthy rats. The study indicated that NPM-139 could potentially offer once or twice-yearly dosing, enhancing medication adherence. Vivani Medical's NanoPortal technology, used in both NPM-115 and NPM-139, aims to improve patient outcomes by providing steady drug delivery. The company is leveraging Australian research and development rebates to offset clinical trial costs, with data expected to be acceptable to regulatory authorities. Top-line results from the LIBERATE-1 trial are anticipated by mid-2025, providing further insights into the implant's potential for treating obesity and type 2 diabetes.
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