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 sold 24,000 shares of the stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $1.40, for a total transaction of $33,600.00. Following the completion of the sale, the insider now directly owns 10,763,920 shares of the company’s stock, valued at approximately $15,069,488. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
A number of research firms have recently commented on NVIV. 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 (NASDAQ:NVIV) traded down 0.71% on Wednesday, hitting $1.40. The stock had a trading volume of 85,924 shares. Invivo Therapeutics Holdings Corp has a one year low of $1.25 and a one year high of $6.20. The stock has a 50-day moving average of $3.31 and a 200-day moving average of $3.32. The company’s market cap is $110.0 million.
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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