Invivyd (NASDAQ:IVVD) Upgraded at Morgan Stanley

Morgan Stanley upgraded shares of Invivyd (NASDAQ:IVVD) from an equal weight rating to an overweight rating in a research note issued to investors on Tuesday morning, MarketBeat reports. The firm currently has $10.00 price target on the stock, up from their previous price target of $4.00.

Separately, HC Wainwright reiterated a buy rating and issued a $15.00 price target on shares of Invivyd in a report on Monday.

Invivyd Stock Performance

Shares of IVVD stock opened at $4.44 on Tuesday. The stock’s fifty day moving average is $4.15 and its 200-day moving average is $2.87. The stock has a market capitalization of $488.89 million, a PE ratio of -2.86 and a beta of 0.60. Invivyd has a 52 week low of $0.98 and a 52 week high of $5.20.

Insider Activity at Invivyd

In related news, major shareholder Adimab, Llc sold 5,000,000 shares of the firm’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $3.95, for a total value of $19,750,000.00. Following the transaction, the insider now owns 21,687,906 shares in the company, valued at $85,667,228.70. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 19.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Invivyd

Several hedge funds have recently added to or reduced their stakes in the stock. FMR LLC acquired a new position in Invivyd in the first quarter valued at about $16,739,000. 683 Capital Management LLC lifted its stake in Invivyd by 17.6% in the second quarter. 683 Capital Management LLC now owns 4,000,000 shares of the company’s stock valued at $4,200,000 after buying an additional 600,000 shares during the period. BlackRock Inc. acquired a new position in Invivyd in the first quarter valued at about $4,527,000. Vanguard Group Inc. lifted its stake in Invivyd by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 2,513,706 shares of the company’s stock valued at $9,904,000 after buying an additional 24,692 shares during the period. Finally, Citigroup Inc. lifted its stake in Invivyd by 187,270.9% in the second quarter. Citigroup Inc. now owns 2,327,146 shares of the company’s stock valued at $2,444,000 after buying an additional 2,325,904 shares during the period. Institutional investors and hedge funds own 70.36% of the company’s stock.

About Invivyd

Invivyd, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of antibody-based solutions for infectious diseases in the United States. The company's lead product candidate is adintrevimab, a neutralizing antibody that is in Phase 3 clinical trials for the treatment and prevention of coronavirus disease, as well as developing monoclonal antibody candidates, including VYD222 and VYD224, which provides neutralizing protection against SARS-CoV-2.