Invivyd, Inc. (NASDAQ:IVVD) Given Average Rating of “Hold” by Brokerages

Shares of Invivyd, Inc. (NASDAQ:IVVD) have received a consensus rating of “Hold” from the six ratings firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $8.00.

Several brokerages have recently issued reports on IVVD. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Invivyd in a research report on Thursday, August 27th. BTIG Research reissued a “buy” rating on shares of Invivyd in a research report on Monday, September 14th. Weiss Ratings upgraded Invivyd from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, September 8th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Invivyd in a report on Tuesday, August 18th.

Insider Activity at Invivyd

In other news, insider Jill Andersen sold 37,256 shares of the stock in a transaction that occurred 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 completion of the sale, the insider directly owned 314,480 shares of the company’s stock, valued at approximately $226,425.60. This represents a 10.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 228,024 shares of company stock worth $176,540 in the last three months. 12.25% of the stock is owned by insiders.

Hedge Funds Weigh In On Invivyd

Large investors have recently bought and sold shares of the stock. Chicago Partners Investment Group LLC bought a new stake in Invivyd in the 1st quarter valued at $25,000. ProShare Advisors LLC acquired a new stake in Invivyd in the 4th quarter worth $30,000. Bank of New York Mellon Corp increased its holdings in shares of Invivyd by 54.3% during the 1st quarter. Bank of New York Mellon Corp now owns 27,184 shares of the company’s stock worth $35,000 after purchasing an additional 9,568 shares during the period. SummitTX Capital L.P. bought a new position in shares of Invivyd during the 1st quarter worth about $37,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Invivyd during the second quarter valued at about $52,000. 70.36% of the stock is currently owned by institutional investors and hedge funds.

Invivyd Trading Up 35.0%

NASDAQ IVVD opened at $1.02 on Tuesday. Invivyd has a 1 year low of $0.53 and a 1 year high of $3.07. The company has a fifty day simple moving average of $0.77 and a 200 day simple moving average of $1.10. The company has a market cap of $300.66 million, a P/E ratio of -3.09 and a beta of 0.81.

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

About Invivyd

Invivyd, Inc is a biotechnology company focused on developing antibody-based medicines designed to protect against rapidly evolving viral diseases. The company uses its antibody discovery and engineering platform to create therapies intended to maintain activity as viruses mutate and to provide durable protection for people who may not be adequately protected by vaccines.

Invivyd’s lead product is pemivibart, marketed in the United States as Pemgarda. Pemivibart is an intravenously administered monoclonal antibody authorized by the U.S.