Insider purchases
Director Gregg Williams executed two purchases of Vivani Medical common stock on February 15, 2026, acquiring a total of 1,866,492 shares. The larger tranche comprised 1,601,941 shares bought at $1.03 per share, representing $1,649,999. The second tranche consisted of 264,551 shares acquired at $1.26 per share, amounting to $333,334. Combined, the transactions totaled approximately $1.98 million.
Market pricing and valuation indicators
At the time of reporting, Vivani's shares trade at $1.18. InvestingPro data cited in public disclosures indicates the company is viewed as overvalued relative to its Fair Value. Additional market metrics underscore notable volatility and stretched valuation multiples: the stock has a beta of 3.34 and a price-to-book ratio of 72.
Ownership and control
Following these purchases, Williams' direct ownership in Vivani stands at 4,799,200 shares. He also holds indirect ownership of 34,581,152 shares through several entities and trusts, including the Gregg G. Williams 2006 Trust, Williams International Co. LLC, Sam Williams Family Investments LLC, and the Sam B. Williams 1995 Generation-Skipping Trust. Williams is reported to have voting and dispositive power over all of these holdings.
Company size and analyst coverage
Vivani Medical's market capitalization is reported at $94.23 million. InvestingPro assigns the company a "WEAK" overall financial health rating. Analyst price targets noted in available data range from $4 to $7 per share, levels that are markedly higher than the current trading price.
Recent financing and study results
Separately, Vivani announced the successful closing of a $4.5 million stock offering intended to support ongoing research. That financing was completed through a registered direct offering alongside a concurrent private placement, with the placement price set at $1.48 per share. Gregg Williams participated in the private placement by purchasing 1,351,351 shares.
On the research front, Vivani's subsidiary Cortigent reported positive findings from a 6-year Early Feasibility Study of the Orion Visual Cortical Prosthesis System. The study, presented at the North American Neuromodulation Society annual meeting, emphasized the system's safety and efficacy in producing visual perception for blind individuals.
Context and considerations
The insider purchases increase Gregg Williams' stake at a time when the company has both secured fresh capital and released encouraging early clinical data for its cortical prosthesis. At the same time, third-party market indicators included in the company's public information point to a high beta, an elevated price-to-book ratio, and a WEAK financial health rating, while analyst targets sit well above the current share price.
Summary
Gregg Williams bought 1,866,492 shares on February 15, 2026, in two transactions totaling about $1.98 million. Vivani closed a $4.5 million financing and reported positive six-year feasibility results for its Orion system, while market data signals potential overvaluation and financial weaknesses.