Invivyd (NASDAQ:IVVD) Lowered to Strong Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of Invivyd (NASDAQ:IVVD) from a hold rating to a strong sell rating in a research note published on Saturday morning.

IVVD has been the topic of a number of other research reports. HC Wainwright reissued a “buy” rating on shares of Invivyd in a research note on Thursday. Weiss Ratings restated a “sell (d-)” rating on shares of Invivyd in a research report on Wednesday, April 29th. Finally, BTIG Research restated a “buy” rating and set a $10.00 target price on shares of Invivyd in a research report on Thursday, February 26th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $8.00.

Invivyd Stock Performance

Invivyd stock opened at $1.21 on Friday. The firm has a market cap of $342.19 million, a P/E ratio of -3.90 and a beta of 0.71. The business’s fifty day moving average is $1.52 and its two-hundred day moving average is $1.90. Invivyd has a 52 week low of $0.48 and a 52 week high of $3.07.

Invivyd (NASDAQ:IVVD) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.05). The business had revenue of $13.74 million during the quarter, compared to analyst estimates of $18.04 million. Invivyd had a negative return on equity of 61.69% and a negative net margin of 138.90%. On average, equities research analysts predict that Invivyd will post -0.37 earnings per share for the current year.

Insider Activity at Invivyd

In other news, insider Robert D. Allen III sold 19,392 shares of the business’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $1.58, for a total transaction of $30,639.36. Following the completion of the sale, the insider owned 114,487 shares in the company, valued at $180,889.46. The trade was a 14.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Julie Green sold 20,964 shares of the company’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $1.58, for a total value of $33,123.12. Following the completion of the sale, the insider owned 107,717 shares of the company’s stock, valued at $170,192.86. This represents a 16.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 227,172 shares of company stock valued at $354,534 over the last quarter. 12.25% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Invivyd

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. OMERS ADMINISTRATION Corp increased its holdings in Invivyd by 9.0% in the first quarter. OMERS ADMINISTRATION Corp now owns 106,900 shares of the company’s stock valued at $139,000 after purchasing an additional 8,800 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Invivyd by 54.3% in the first quarter. Bank of New York Mellon Corp now owns 27,184 shares of the company’s stock valued at $35,000 after purchasing an additional 9,568 shares during the last quarter. Courier Capital LLC bought a new stake in Invivyd in the fourth quarter valued at about $25,000. Bronte Capital Management Pty Ltd. bought a new stake in Invivyd in the fourth quarter valued at about $27,000. Finally, DRW Securities LLC bought a new stake in Invivyd in the fourth quarter valued at about $27,000. Institutional investors own 70.36% of the company’s stock.

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.