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

StockNews.com began coverage on shares of InVivo Therapeutics (NASDAQ:NVIV) in a research report sent to investors on Tuesday morning. The firm issued a sell rating on the biotechnology company’s stock.

InVivo Therapeutics Stock Performance

Shares of NASDAQ:NVIV opened at $1.24 on Tuesday. The company has a market cap of $3.83 million, a P/E ratio of -0.15 and a beta of 0.81. InVivo Therapeutics has a one year low of $0.81 and a one year high of $7.98. The business’s 50-day simple moving average is $1.28 and its 200 day simple moving average is $1.31.

Institutional Investors Weigh In On InVivo Therapeutics

Several hedge funds have recently modified their holdings of NVIV. Renaissance Technologies LLC increased its holdings in InVivo Therapeutics by 152.5% during the 1st 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. Two Sigma Advisers LP purchased a new stake in InVivo Therapeutics during the 3rd quarter worth approximately $45,000. Two Sigma Investments LP purchased a new stake in InVivo Therapeutics during the 3rd quarter worth approximately $49,000. Vanguard Group Inc. purchased a new stake in InVivo Therapeutics during the 3rd quarter worth approximately $73,000. Finally, Citadel Advisors LLC increased its holdings in InVivo Therapeutics by 182.9% during the 3rd 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. 13.78% of the stock is currently owned by hedge funds and other institutional investors.

InVivo Therapeutics Company Profile

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.