Eventide Asset Management LLC Makes New Investment in Invivyd, Inc. $IVVD

Eventide Asset Management LLC bought a new position in shares of Invivyd, Inc. (NASDAQ:IVVD) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,809,256 shares of the company’s stock, valued at approximately $14,349,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IVVD. Invesco Ltd. grew its position in Invivyd by 190.6% during the first quarter. Invesco Ltd. now owns 108,999 shares of the company’s stock worth $66,000 after buying an additional 71,485 shares during the period. AQR Capital Management LLC grew its position in Invivyd by 2,051.0% during the first quarter. AQR Capital Management LLC now owns 410,711 shares of the company’s stock worth $249,000 after buying an additional 391,617 shares during the period. Marshall Wace LLP acquired a new position in Invivyd during the second quarter worth about $158,000. Jane Street Group LLC acquired a new position in Invivyd during the second quarter worth about $147,000. Finally, Vanguard Group Inc. grew its position in Invivyd by 46.7% during the third quarter. Vanguard Group Inc. now owns 5,762,894 shares of the company’s stock worth $6,339,000 after buying an additional 1,834,970 shares during the period. 70.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on IVVD. BTIG Research restated a “buy” rating and set a $10.00 target price on shares of Invivyd in a research report on Tuesday, June 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Invivyd in a report on Wednesday, April 29th. Wall Street Zen downgraded shares of Invivyd from a “hold” rating to a “strong sell” rating in a report on Saturday, May 16th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Invivyd in a report on Thursday, May 14th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $8.00.

Invivyd Price Performance

Shares of NASDAQ IVVD opened at $0.77 on Monday. Invivyd, Inc. has a 12-month low of $0.48 and a 12-month high of $3.07. The company has a market capitalization of $226.85 million, a PE ratio of -2.48 and a beta of 0.63. The firm’s 50-day moving average is $1.32 and its two-hundred day moving average is $1.77.

Invivyd (NASDAQ:IVVD) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $13.74 million during the quarter, compared to analysts’ expectations of $18.04 million. On average, analysts forecast that Invivyd, Inc. will post -0.5 EPS for the current fiscal year.

Invivyd 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.