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

Stock analysts at StockNews.com began 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 Price Performance

Shares of NASDAQ NVIV opened at $0.96 on Friday. The stock has a market capitalization of $2.75 million, a P/E ratio of -0.12 and a beta of 0.85. The firm’s 50 day simple moving average is $2.06 and its two-hundred day simple moving average is $2.78. InVivo Therapeutics has a one year low of $0.91 and a one year high of $13.77.

Institutional Investors Weigh In On InVivo Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its stake in shares of InVivo Therapeutics by 152.5% in 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. Citadel Advisors LLC boosted its holdings in shares of InVivo Therapeutics by 182.9% in the third quarter. Citadel Advisors LLC now owns 42,794 shares of the biotechnology company’s stock worth $184,000 after buying an additional 27,667 shares during the last quarter. Vanguard Group Inc. purchased a new position in shares of InVivo Therapeutics during the 3rd quarter worth $73,000. Two Sigma Investments LP bought a new stake in InVivo Therapeutics during the third quarter valued at about $49,000. Finally, Two Sigma Advisers LP purchased a new stake in InVivo Therapeutics in the 3rd quarter worth approximately $45,000. 8.60% of the stock is owned by hedge funds and other institutional investors.

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.