Cantor Fitzgerald Reaffirms Overweight Rating for Invivyd (NASDAQ:IVVD)

Invivyd (NASDAQ:IVVD)‘s stock had its “overweight” rating reaffirmed by Cantor Fitzgerald in a report issued on Thursday,Benzinga reports.

A number of other brokerages have also recently issued reports on IVVD. Weiss Ratings cut shares of Invivyd from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday. BTIG Research reaffirmed a “buy” rating on shares of Invivyd in a report on Tuesday, July 7th. Wall Street Zen downgraded shares of Invivyd from a “hold” rating to a “strong sell” rating in a research note on Saturday, May 16th. Finally, HC Wainwright reiterated a “buy” rating on shares of Invivyd in a report on Tuesday, August 18th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $8.00.

Invivyd Trading Down 3.9%

Shares of NASDAQ:IVVD opened at $0.90 on Thursday. The stock has a fifty day simple moving average of $0.78 and a two-hundred day simple moving average of $1.20. The stock has a market capitalization of $265.79 million, a price-to-earnings ratio of -2.73 and a beta of 0.71. Invivyd has a 12-month low of $0.53 and a 12-month high of $3.07.

Invivyd (NASDAQ:IVVD) last released its earnings results on Thursday, August 13th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.03). Invivyd had a negative return on equity of 59.73% and a negative net margin of 183.90%.The company had revenue of $14.29 million during the quarter, compared to analysts’ expectations of $14.40 million. As a group, equities research analysts predict that Invivyd will post -0.51 EPS for the current year.

Insiders Place Their Bets

In other news, insider Jill Andersen sold 37,256 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $0.72, for a total value of $26,824.32. Following the transaction, the insider directly owned 314,480 shares in the company, valued at $226,425.60. This trade represents a 10.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 228,024 shares of company stock worth $176,540 in the last 90 days. 12.25% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Jupiter Topco LLC purchased a new position in Invivyd in the 2nd quarter worth approximately $30,048,000. Perceptive Advisors LLC bought a new position in Invivyd during the fourth quarter valued at approximately $53,809,000. BVF Inc. IL bought a new position in Invivyd during the fourth quarter valued at approximately $48,227,000. RA Capital Management L.P. purchased a new position in Invivyd during the 3rd quarter valued at approximately $18,831,000. Finally, BlackRock Inc. purchased a new position in Invivyd during the 2nd quarter valued at approximately $14,076,000. Institutional investors own 70.36% of the company’s stock.

Invivyd Company Profile

Invivyd, Inc, a commercial-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of antibody-based solutions for infectious diseases in the United States. The company developed INVYMAB, a platform that combines viral surveillance and predictive modeling with advanced antibody engineering. Its pipeline includes PEMGRADA (pemivibart) injection, a half-life extended investigational monoclonal antibody (mAb) for the prevention of COVID-19 in adults and adolescents; VYD2311, an mAb candidate which is in preclinical studies for the prevention or treatment for COVID-19; and adintrvimab, that is in phase 3 clinical trials for the prevention or treatment of COVID-19.