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Vivani Medical Inc. (VANI) fair value: what the stock is really worth

As of Nov 10, 2026: fair value (intrinsic value) of Vivani Medical Inc. stock $0.77, price $1.15, that is 33.0% below the price, quality 33 out of 100. Rating: overvalued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Healthcare US

VM Vivani Medical Inc. logo Thin data Nov 10, 2026

Vivani Medical Inc.

VANI · US
Expensive, weak quality

Our calculation puts a fair price 33% below what the stock costs today.

Insiders bought $5.0M (6M)
Fair value $0.7700 · Overvalued
Quality 33/100
Weak Growth (revenue 5y −85.4 %/yr in USD)
Negative free cash flow
Trails peers (2/7)
Narrow moat 6/100 · thin data
Thin data
Estimate
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26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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Price vs Fair Value

$11.76 $0.8500 Fair Value $0.7700 Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

60‑month range $0.8500 – $11.76 · fair‑value band $0.5700 – $0.9600 · the $1.15 price screens above the $0.7700 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.

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Company profile

Vivani Medical, Inc., a clinical-stage biopharmaceutical company, engages in the development of miniaturized and subdermal drug implants that treat chronic diseases.

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The company uses its NanoPortal implant technology to develop and potentially commercialize drug implant candidates, alone or in collaboration with pharmaceutical company partners, to address causes of poor clinical outcomes in the treatment of chronic diseases.

Its pipeline includes NPM-139 for chronic weight management in patients who are obese or overweight; NPM-133 a semaglutide implant for the treatment of patients with type 2 diabetes; NPM-115, an exenatide implant candidate for chronic weight management in patients who are obese or overweight; and OKV-119, an exenatide implant for the treatment of obesity and diabetes in companion animals, including cats and dogs.

The company is headquartered in Alameda, California.

Stock analysis

Vivani Medical Inc. (VANI) currently trades at $1.15, while our estimate is $0.7700, 33% below the price, so the stock looks overvalued today.

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: $0.5700 (bear) to $0.9600 (bull), the price of $1.15 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 33/100 (below-average quality), in the Healthcare sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

Vivani Medical Inc. reported revenue of $0 in FY2025 versus $260 in FY2021. Reported net income was −$26.6M in FY2025.

Key figures

Market cap $100M Micro · EPS (TTM) $−0.3600 · Return on equity −220% · Return on assets (EBIT) −94.8% (5-year average) · Free cash flow −$25.5M · Net debt $2.6M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 6 out of 100 (low confidence).

What moves the price

The share trades about 28% below its 52-week high and 23% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at −7% fair-value upside, at −33%, VANI screens richer than that median.

Fair Value

Bear $0.5700 Fair Value $0.7700 Bull $0.9600
Price $1.15 · Downside -33.0%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 33/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 0
How much profit the company makes from its sales and capital
Quality Growth 25
Are margins and returns getting better?
Cashflow 28
Do the profits arrive as real cash?
Financial strength 64
Debt, balance sheet and risk of trouble
Investment 100
Does it invest with discipline instead of growing at any price?
Low Volatility 0
How calm the share price moves, does not count
Price momentum 26
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 19
Distance to the 52-week high, does not count
New shares 0
Buys back shares or issues new ones?

Open the full quality analysis →

Insider trades

In the last 6 months, one officer or director bought shares worth $5.0M, on Jul 15, 2026.

  • BuyGregg WilliamsDirector, 10% owner10× since Nov 15, 2025: 15,561,921 shares, avg. $1.20$18.6MJul 15, 2026
  • BuyAaron MendelsohnDirector20,000 shares at $1.23$24,600Dec 29, 2025

Plus one other filing such as a grant, option exercise or tax withholding. It is not a market purchase or sale.

Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.

Source: SEC Form 4, as of Nov 10, 2026. All filings at the SEC ↗

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 0/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−74.0%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−96.6%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−85.4%
Revenue growth 9 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−61.4%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−833.4% (2016) → −5,124,230.8% (2021)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

VANI screens overvalued: fair value 33% below the price. Compare with Vertex Pharmaceuticals Incorporated →

Compare Vivani Medical Inc. with another stock

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Biotechnology · 849 stocks

Beats the industry median on 2/6 measures
Overall it trails its industry peers.
Valuation
Quality Score 33 · Below median
Fair Value upside −33.0% · Below median
Profitability
Return on assets −67.6% · Bottom 25%
Operating margin (12 months) 0.0% · Above median
Growth and dividend
Revenue growth (quarter YoY) 0.0% · Above median

Valuation Multiplesvs Biotechnology median · lower = cheaper

P/B 6.37× · Priciest 25%

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Biotechnology stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Regeneron Pharmaceuticals, Inc REGN $916.06 $1,275 +39% vs VANI
Samsung Biologics Co 207940 1,468,000 KRW 1,661,000 KRW +13% vs VANI
Vertex Pharmaceuticals Incorporated VRTX $547.89 $601.80 +10% vs VANI
Genmab A/S GMAB kr 3,581 kr 3,880 +8% vs VANI
argenx SE ARGX $971.55 $908.40 −7% vs VANI
CSL Limited CSL A$201.68 A$181.40 −10% vs VANI
Moderna, Inc MRNA $250.83 $158.70 −37% vs VANI
BeOne Medicines AG 6160 HK$252.20 HK$152.80 −39% vs VANI
Celltrion, Inc 068270 203,000 KRW 74,945 KRW −63% vs VANI
Royalty Pharma plc RPRX $69.45 $19.01 −73% vs VANI

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Vivani Medical Inc.: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Vivani Medical Inc. Fair Value". https://www.fairvalue-calculator.com/stock/VANI

Frequently asked questions

Is Vivani Medical Inc. (VANI) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is $0.7700 versus a price of $1.15, about 33% lower (overvalued).
What is the fair value of VANI?
Our estimate for Vivani Medical Inc. is $0.7700 (as of Nov 10, 2026), built from audited fundamentals. The current price: $1.15.
What is the quality score of VANI?
Vivani Medical Inc. has a Quality Score of 33/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Vivani Medical Inc. (VANI)?
Our calculated price target is the estimate of $0.7700 (as of Nov 10, 2026). Cautious scenario $0.5700, optimistic scenario $0.9600. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the Vivani Medical Inc. stock forecast for 2026?
Our estimate puts fair value at $0.7700, about 33% lower versus a price of $1.15 (overvalued). Cautious scenario $0.5700, optimistic scenario $0.9600. The calculation is refreshed regularly with new filings.
What is the intrinsic value of Vivani Medical Inc. (VANI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Vivani Medical Inc. it is $0.7700 per share (as of Nov 10, 2026), against a price of $1.15.
Is Vivani Medical Inc. stock overvalued or undervalued in 2026?
As of Nov 10, 2026, VANI trades above its calculated fair value: price $1.15, fair value $0.7700, a gap of about −33% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of VANI?
No. The price is what the market pays today ($1.15); the fair value is what the company's own numbers justify ($0.7700). For Vivani Medical Inc. the two are $0.3800 per share apart. That gap is exactly why we show both numbers side by side.
How much is Vivani Medical Inc. worth?
The market values Vivani Medical Inc. at about $100M (market capitalisation, as of Nov 10, 2026). Per share that is $1.15; our models calculate a fair value of $0.7700 per share.
What do the bullish and bearish scenarios say about VANI?
Our models span a range for Vivani Medical Inc.: cautious scenario $0.5700, base $0.7700, optimistic $0.9600 per share (as of Nov 10, 2026, price $1.15). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Vivani Medical Inc. (VANI)?
Balance-sheet figures for Vivani Medical Inc. (as of Nov 10, 2026): return on equity −220.4%. They feed the Quality Score of 33/100, which measures business quality independently of the share price.
How far is VANI from its 52-week high?
Vivani Medical Inc. trades at $1.15, about 28% below its 52-week high of $1.60 and 23% above the low of $0.9380 (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of $0.7700 is for.
Which stocks are comparable to Vivani Medical Inc.?
From the same area (Healthcare) we also value Vertex Pharmaceuticals Incorporated, Moderna, Inc, Regeneron Pharmaceuticals, Inc, CSL Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Vivani Medical Inc. stock attractive at the current price?
The data as of Nov 10, 2026: price $1.15, calculated fair value $0.7700 (−33%), Quality Score 33/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. Vivani Medical Inc. itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Vivani Medical Inc. (VANI)?
The closing price on Nov 10, 2026 was $1.15. Our estimate is $0.7700, about 33% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Vivani Medical Inc. right now?
The price sits above even our optimistic bull case ($0.9600). The favourable scenario is already priced in. Weak quality (33/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of Vivani Medical Inc.

How large is the market capitalisation of Vivani Medical Inc. (VANI)?
The market capitalisation of Vivani Medical Inc. is $100M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What are the earnings per share of Vivani Medical Inc. (VANI)?
Earnings per share at Vivani Medical Inc. are $−0.3600. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of Vivani Medical Inc. (VANI)?
The return on equity (ROE) of Vivani Medical Inc. is −220% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Vivani Medical Inc. (VANI)?
On an EBIT basis the return on assets of Vivani Medical Inc. is −94.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
How much free cash flow does Vivani Medical Inc. (VANI) generate?
The free cash flow of Vivani Medical Inc. is −$25.5M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Vivani Medical Inc. (VANI) carry?
The net debt of Vivani Medical Inc. is $2.6M (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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