Insider Selling: Invivo Therapeutics Holdings Corp Major Shareholder Sells 36,000 Shares of Stock (NVIV)
Invivo Therapeutics Holdings Corp (NASDAQ:NVIV) major shareholder Francis Reynolds sold 36,000 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $1.41, for a total value of $50,760.00. Following the sale, the insider now directly owns 10,847,920 shares in the company, valued at approximately $15,295,567. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Shares of Invivo Therapeutics Holdings Corp (NASDAQ:NVIV) traded up 6.25% on Wednesday, hitting $1.53. 465,718 shares of the company’s stock traded hands. Invivo Therapeutics Holdings Corp has a 1-year low of $0.94 and a 1-year high of $6.20. The stock has a 50-day moving average of $1.83 and a 200-day moving average of $3.24. The company’s market cap is $120.2 million.
Several analysts have recently commented on the stock. 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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