Insider Selling: Invivo Therapeutics Holdings Corp major shareholder Unloads 25,000 Shares of Stock (NVIV)
Invivo Therapeutics Holdings Corp (NASDAQ:NVIV) major shareholder Francis Reynolds unloaded 25,000 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $2.17, for a total transaction of $54,250.00. Following the sale, the insider now directly owns 9,998,920 shares in the company, valued at approximately $21,697,656. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
Invivo Therapeutics Holdings Corp (NASDAQ:NVIV) traded up 0.46% during mid-day trading on Friday, hitting $2.20. The stock had a trading volume of 64,818 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 $2.18 and its 200-day moving average is $2.37. The company’s market cap is $173.2 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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