Insider Selling: Invivo Therapeutics Holdings Corp Major Shareholder Sells 48,000 Shares of Stock (NVIV)
Invivo Therapeutics Holdings Corp (NASDAQ:NVIV) major shareholder Francis Reynolds sold 48,000 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $2.41, for a total transaction of $115,680.00. Following the transaction, the insider now directly owns 10,151,920 shares of the company’s stock, valued at approximately $24,466,127. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Separately, analysts at Aegis cut their price target on shares of Invivo Therapeutics Holdings Corp from $7.00 to $4.00 in a research note to investors on Monday, November 25th. They now have a “buy” rating on the stock.
Invivo Therapeutics Holdings Corp (NASDAQ:NVIV) traded down 3.63% on Friday, hitting $2.28. The stock had a trading volume of 210,780 shares. Invivo Therapeutics Holdings Corp has a 52-week low of $0.94 and a 52-week high of $6.20. The stock’s 50-day moving average is $2.00 and its 200-day moving average is $2.56. The company’s market cap is $179.5 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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