StockNews.com Begins Coverage on InVivo Therapeutics (NASDAQ:NVIV)

Analysts at StockNews.com assumed coverage on shares of InVivo Therapeutics (NASDAQ:NVIVGet Rating) in a research note issued on Wednesday. The firm set a “sell” rating on the biotechnology company’s stock.

Shares of NVIV opened at $3.94 on Wednesday. InVivo Therapeutics has a 1-year low of $3.50 and a 1-year high of $23.19. The company has a 50-day moving average of $4.96 and a 200 day moving average of $8.40. The firm has a market capitalization of $5.48 million, a price-to-earnings ratio of -0.51 and a beta of 1.26.

InVivo Therapeutics (NASDAQ:NVIVGet Rating) last issued its quarterly earnings data on Tuesday, May 10th. The biotechnology company reported ($1.94) earnings per share (EPS) for the quarter.

Several hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new position in InVivo Therapeutics during the fourth quarter worth $58,000. Renaissance Technologies LLC grew its holdings in shares of 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 buying an additional 47,900 shares in the last quarter. Morgan Stanley grew its holdings in shares of InVivo Therapeutics by 1,525.9% during the second quarter. Morgan Stanley now owns 50,697 shares of the biotechnology company’s stock worth $38,000 after buying an additional 47,579 shares in the last quarter. Two Sigma Securities LLC purchased a new stake in shares of InVivo Therapeutics during the third quarter worth $31,000. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of InVivo Therapeutics during the second quarter worth $30,000. 18.64% of the stock is currently owned by institutional investors and hedge funds.

About InVivo Therapeutics (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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