Insider Selling: Invivo Therapeutics Holdings Corp Major Shareholder Sells 24,000 Shares of Stock (NVIV)
Invivo Therapeutics Holdings Corp (NASDAQ:NVIV) major shareholder Francis Reynolds unloaded 24,000 shares of the stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $1.41, for a total transaction of $33,840.00. Following the sale, the insider now directly owns 10,883,920 shares in the company, valued at approximately $15,346,327. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Invivo Therapeutics Holdings Corp (NASDAQ:NVIV) traded down 7.14% on Monday, hitting $1.30. 207,816 shares of the company’s stock traded hands. Invivo Therapeutics Holdings Corp has a one year low of $0.94 and a one year high of $6.20. The stock’s 50-day moving average is $1.99 and its 200-day moving average is $3.24. The company’s market cap is $102.2 million.
NVIV has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Invivo Therapeutics Holdings Corp in a research note to investors on Tuesday, August 27th. They now have a $2.00 price target on the stock. Analysts at Aegis raised their price target on shares of Invivo Therapeutics Holdings Corp from $6.00 to $7.00 in a research note to investors on Friday, August 23rd. They now have a “buy” rating on the stock.
InVivo Therapeutics Holdings Corp., formerly Design Source, Inc is a development-stage company. The Company is developing and commercializing technologies for the treatment of spinal cord injuries.
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