Invivo Therapeutics Holdings Corp major shareholder Sells $88,500 in Stock (NVIV)
Invivo Therapeutics Holdings Corp (NASDAQ:NVIV) major shareholder Francis Reynolds sold 37,500 shares of the stock on the open market in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $2.36, for a total value of $88,500.00. Following the completion of the transaction, the insider now directly owns 10,076,920 shares of the company’s stock, valued at approximately $23,781,531. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Invivo Therapeutics Holdings Corp (NASDAQ:NVIV) traded down 2.52% during mid-day trading on Wednesday, hitting $2.24. The stock had a trading volume of 52,419 shares. 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 $2.0 and a 200-day moving average of $2.44. The company’s market cap is $176.4 million.
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., 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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