InVivo Therapeutics (NASDAQ:NVIV) Receives New Coverage from Analysts at StockNews.com

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

InVivo Therapeutics Stock Performance

Shares of NVIV opened at $0.99 on Friday. The stock has a market capitalization of $1.88 million, a P/E ratio of -0.12 and a beta of 0.85. The company’s fifty day moving average is $2.20 and its two-hundred day moving average is $2.99. InVivo Therapeutics has a 1 year low of $0.97 and a 1 year high of $13.77.

Hedge Funds Weigh In On InVivo Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in NVIV. Armistice Capital LLC acquired a new position in shares of InVivo Therapeutics during the 4th quarter worth $522,000. Renaissance Technologies LLC grew its stake in shares of 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 period. Citadel Advisors LLC grew its stake in shares of 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 period. Vanguard Group Inc. acquired a new position in shares of InVivo Therapeutics during the 3rd quarter worth $73,000. Finally, Two Sigma Investments LP acquired a new position in shares of InVivo Therapeutics during the 3rd quarter worth $49,000. 8.60% of the stock is owned by institutional investors and hedge funds.

About InVivo Therapeutics

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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.