Invivyd (NASDAQ:IVVD) Stock Price Up 7.1% – Here’s What Happened

Invivyd, Inc. (NASDAQ:IVVD) rose 7.1% during mid-day trading on Thursday . The stock traded as high as $0.5902 and last traded at $0.5816. 3,050,430 shares were traded during trading, a decline of 6% from the average session volume of 3,239,798 shares. The stock had previously closed at $0.5430.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Invivyd in a research note on Friday, July 24th. HC Wainwright reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Invivyd in a research note on Monday, June 15th. Wall Street Zen cut Invivyd from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 16th. Finally, BTIG Research reissued a “buy” rating on shares of Invivyd in a report on Tuesday, July 7th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $8.00.

Invivyd Stock Performance

The firm has a market cap of $157.62 million, a price-to-earnings ratio of -1.73 and a beta of 0.67. The business has a fifty day simple moving average of $0.87 and a 200-day simple moving average of $1.37.

Invivyd (NASDAQ:IVVD) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.05). Invivyd had a negative net margin of 138.90% and a negative return on equity of 53.48%. The firm had revenue of $13.74 million for the quarter, compared to analyst estimates of $18.04 million. On average, equities analysts anticipate that Invivyd, Inc. will post -0.5 earnings per share for the current year.

Hedge Funds Weigh In On Invivyd

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Janus Henderson Group PLC raised its stake in shares of Invivyd by 1.7% during the first quarter. Janus Henderson Group PLC now owns 33,094,330 shares of the company’s stock valued at $42,857,000 after acquiring an additional 551,188 shares during the last quarter. Perceptive Advisors LLC bought a new stake in shares of Invivyd in the fourth quarter worth $53,809,000. BVF Inc. IL acquired a new stake in Invivyd in the fourth quarter valued at $48,227,000. RA Capital Management L.P. acquired a new stake in Invivyd in the third quarter valued at $18,831,000. Finally, ADAR1 Capital Management LLC bought a new position in Invivyd during the 3rd quarter worth $8,108,000. 70.36% of the stock is currently owned by institutional investors and hedge funds.

About Invivyd

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.