Insider Selling: Francis Reynolds Unloads 25,000 Shares of Invivo Therapeutics Holdings Corp Stock (NVIV)
Invivo Therapeutics Holdings Corp (NASDAQ:NVIV) major shareholder Francis Reynolds sold 25,000 shares of the company’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $2.25, for a total transaction of $56,250.00. Following the completion of the sale, the insider now directly owns 10,051,920 shares of the company’s stock, valued at approximately $22,616,820. The transaction was disclosed in a filing with the SEC, which can be accessed through 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.
Shares of Invivo Therapeutics Holdings Corp (NASDAQ:NVIV) traded down 1.74% during mid-day trading on Monday, hitting $2.26. 81,394 shares of the company’s stock traded hands. Invivo Therapeutics Holdings Corp has a 52-week low of $0.94 and a 52-week high of $6.20. The stock has a 50-day moving average of $2.12 and a 200-day moving average of $2.43. The company’s market cap is $177.9 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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