InVivo Therapeutics (NASDAQ:NVIV) Earns Sell Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of InVivo Therapeutics (NASDAQ:NVIVGet Rating) in a report issued on Saturday morning. The brokerage issued a sell rating on the biotechnology company’s stock.

Shares of NVIV stock opened at $4.66 on Friday. InVivo Therapeutics has a 52-week low of $3.50 and a 52-week high of $23.19. The company’s 50 day moving average is $6.58 and its 200 day moving average is $9.69.

Several hedge funds and other institutional investors have recently modified their holdings of NVIV. Virtu Financial LLC bought a new stake in InVivo Therapeutics during the fourth quarter valued at about $58,000. Renaissance Technologies LLC grew its position in shares of InVivo Therapeutics by 152.5% in the 1st quarter. Renaissance Technologies LLC now owns 79,300 shares of the biotechnology company’s stock worth $27,000 after buying an additional 47,900 shares during the last quarter. Morgan Stanley raised its stake in shares of InVivo Therapeutics by 1,525.9% during the 2nd quarter. Morgan Stanley now owns 50,697 shares of the biotechnology company’s stock worth $38,000 after acquiring an additional 47,579 shares in the last quarter. Two Sigma Securities LLC purchased a new stake in InVivo Therapeutics during the third quarter valued at approximately $31,000. Finally, Goldman Sachs Group Inc. acquired a new stake in InVivo Therapeutics in the second quarter valued at approximately $30,000. Hedge funds and other institutional investors own 18.64% of the company’s stock.

InVivo Therapeutics Company Profile (Get Rating)

InVivo Therapeutics Holdings Corp., a research and clinical-stage biomaterials and biotechnology company, engages in developing and commercializing biopolymer scaffolding devices for the treatment of spinal cord injuries (SCI). It is developing a Neuro-Spinal Scaffold implant, which is an investigational bioresorbable polymer scaffold that is designed for implantation at the site of injury within a spinal cord to treat acute SCI.

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