BTIG Research Upgrades Invivyd (NASDAQ:IVVD) to Strong-Buy

Invivyd (NASDAQ:IVVD) was upgraded by BTIG Research to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

Several other brokerages have also issued reports on IVVD. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Invivyd in a research note on Monday. D Boral Capital lowered shares of Invivyd from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 25th. D. Boral Capital reaffirmed a “hold” rating on shares of Invivyd in a research note on Tuesday, November 25th. HC Wainwright lifted their target price on shares of Invivyd from $5.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Finally, Cantor Fitzgerald initiated coverage on shares of Invivyd in a research note on Monday, October 6th. They issued an “overweight” rating and a $10.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $8.00.

Invivyd Stock Down 2.1%

NASDAQ IVVD opened at $2.82 on Monday. The stock’s 50-day simple moving average is $2.14 and its two-hundred day simple moving average is $1.36. Invivyd has a twelve month low of $0.35 and a twelve month high of $3.07. The company has a market capitalization of $657.40 million, a price-to-earnings ratio of -6.00 and a beta of 0.61.

Invivyd (NASDAQ:IVVD) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The firm had revenue of $13.13 million during the quarter, compared to analysts’ expectations of $12.00 million. Invivyd had a negative return on equity of 92.97% and a negative net margin of 119.63%. On average, equities analysts expect that Invivyd will post -1.64 earnings per share for the current fiscal year.

Insider Activity at Invivyd

In other Invivyd news, Director Kevin F. Mclaughlin purchased 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The stock was bought at an average price of $2.50 per share, with a total value of $125,000.00. Following the completion of the purchase, the director directly owned 50,000 shares of the company’s stock, valued at $125,000. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 25.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in IVVD. RA Capital Management L.P. bought a new stake in shares of Invivyd during the 3rd quarter valued at about $18,831,000. ADAR1 Capital Management LLC bought a new stake in Invivyd during the 3rd quarter valued at approximately $8,108,000. Vanguard Group Inc. grew its holdings in shares of Invivyd by 46.7% during the 3rd quarter. Vanguard Group Inc. now owns 5,762,894 shares of the company’s stock worth $6,339,000 after acquiring an additional 1,834,970 shares during the period. 683 Capital Management LLC raised its position in shares of Invivyd by 2.3% in the 2nd quarter. 683 Capital Management LLC now owns 3,070,000 shares of the company’s stock worth $2,195,000 after acquiring an additional 70,000 shares in the last quarter. Finally, Millennium Management LLC raised its position in shares of Invivyd by 15.8% in the 3rd quarter. Millennium Management LLC now owns 1,446,615 shares of the company’s stock worth $1,591,000 after acquiring an additional 197,522 shares in the last quarter. 70.36% of the stock is currently owned by institutional investors.

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.