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 on the open market in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $2.24, for a total value of $56,000.00. Following the transaction, the insider now directly owns 9,886,420 shares in the company, valued at approximately $22,145,581. The transaction was disclosed in a filing with the SEC, 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.
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 on Monday, November 25th. They now have a “buy” rating on the stock.
Shares of Invivo Therapeutics Holdings Corp (NASDAQ:NVIV) traded up 3.15% during mid-day trading on Friday, hitting $2.29. 95,676 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 $2.28 and a 200-day moving average of $2.13. The company’s market cap is $180.3 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.