InVivo Therapeutics (NASDAQ:NVIV) Coverage Initiated at StockNews.com

Research analysts at StockNews.com started coverage on shares of InVivo Therapeutics (NASDAQ:NVIV – Get Rating) in a report released on Sunday. The brokerage set a “sell” rating on the biotechnology company’s stock.

InVivo Therapeutics Stock Down 1.7 %

NVIV opened at $0.96 on Friday. The stock’s fifty day moving average is $2.06 and its two-hundred day moving average is $2.78. InVivo Therapeutics has a 52 week low of $0.91 and a 52 week high of $13.77. The company has a market capitalization of $2.75 million, a P/E ratio of -0.12 and a beta of 0.85.

Hedge Funds Weigh In On InVivo Therapeutics

Large investors have recently modified their holdings of the business. Armistice Capital LLC acquired a new position in shares of InVivo Therapeutics in the fourth quarter worth $522,000. Two Sigma Advisers LP acquired a new position in InVivo Therapeutics in the 3rd quarter valued at $45,000. Two Sigma Investments LP purchased a new position in InVivo Therapeutics during the third quarter worth about $49,000. Vanguard Group Inc. acquired a new stake in shares of InVivo Therapeutics in the 3rd quarter valued at approximately $73,000. Finally, Citadel Advisors LLC lifted its holdings in InVivo Therapeutics by 182.9% in the third quarter. Citadel Advisors LLC now owns 42,794 shares of the biotechnology company’s stock valued at $184,000 after acquiring an additional 27,667 shares during the period. Institutional investors and hedge funds own 8.60% of the company’s stock.

InVivo Therapeutics Company Profile

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Invivo Therapeutics Holdings Corp. operates as a research and clinical-stage biotechnology company, which engages in developing and commercializing biopolymer scaffolding devices for the treatment of spinal cord injuries. Its clinical development program is the 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.