Investment analysts at StockNews.com started coverage on shares of InVivo Therapeutics (NASDAQ:NVIV – Get Rating) in a report issued on Sunday. The brokerage set a “sell” rating on the biotechnology company’s stock.
InVivo Therapeutics Stock Performance
Shares of NASDAQ:NVIV opened at $1.22 on Friday. The firm has a market cap of $3.79 million, a PE ratio of -0.15 and a beta of 0.83. The firm’s fifty day moving average is $1.31 and its 200-day moving average is $1.64. InVivo Therapeutics has a 52 week low of $0.81 and a 52 week high of $13.77.
Hedge Funds Weigh In On InVivo Therapeutics
A number of hedge funds have recently bought and sold shares of the company. Armistice Capital LLC purchased a new position in InVivo Therapeutics during the fourth quarter worth about $522,000. Renaissance Technologies LLC boosted its holdings in InVivo Therapeutics by 152.5% during the first quarter. Renaissance Technologies LLC now owns 79,300 shares of the biotechnology company’s stock worth $27,000 after purchasing an additional 47,900 shares during the last quarter. Citadel Advisors LLC boosted its holdings in InVivo Therapeutics by 182.9% during the third quarter. Citadel Advisors LLC now owns 42,794 shares of the biotechnology company’s stock worth $184,000 after purchasing an additional 27,667 shares during the last quarter. Vanguard Group Inc. purchased a new position in InVivo Therapeutics during the third quarter worth about $73,000. Finally, Two Sigma Investments LP purchased a new position in InVivo Therapeutics during the third quarter worth about $49,000. Institutional investors own 14.40% of the company’s stock.
About InVivo Therapeutics
InVivo Therapeutics Holdings Corp. operates as a research and clinical-stage biomaterials and biotechnology company in the United States. The 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 comprise of biocompatible and bioresorbable polymers, which includes Poly lactic-co-glycolic acid, a polymer which is widely used in resorbable sutures and provides the biocompatible support for Neuro-Spinal Scaffold implant; and Poly-L-Lysine, a positively charged polymer used to coat surfaces to promote cellular attachment.
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