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Invivo Therapeutics Holdings Corp (NASDAQ:NVIV) major shareholder Francis Reynolds sold 37,500 shares of the company’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $2.22, for a total value of $83,250.00. Following the completion of the transaction, the insider now directly owns 10,023,920 shares of the company’s stock, valued at approximately $22,253,102. The sale was disclosed in a filing with the SEC, which is available at this link. Major shareholders that own 10% or more of a company’s shares 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 1.79% during mid-day trading on Wednesday, hitting $2.19. The stock had a trading volume of 104,241 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 $2.1 and its 200-day moving average is $2.37. The company’s market cap is $172.4 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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