Invivyd (NASDAQ:IVVD) Trading Down 5.5% – Here’s What Happened

Invivyd, Inc. (NASDAQ:IVVD) traded down 5.5% during trading on Tuesday . The company traded as low as $2.39 and last traded at $2.4090. 1,547,842 shares changed hands during trading, a decline of 30% from the average session volume of 2,201,000 shares. The stock had previously closed at $2.55.

Wall Street Analysts Forecast Growth

IVVD has been the topic of a number of analyst reports. D Boral Capital lowered Invivyd from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Weiss Ratings reissued a “sell (e+)” rating on shares of Invivyd in a report on Monday, December 29th. HC Wainwright increased their target price on shares of Invivyd from $5.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Zacks Research raised shares of Invivyd from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 13th. Finally, Cantor Fitzgerald initiated coverage on shares of Invivyd in a research report on Monday, October 6th. They issued an “overweight” rating and a $10.00 price target for the company. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Invivyd currently has a consensus rating of “Hold” and a consensus price target of $8.00.

Invivyd Price Performance

The firm has a market capitalization of $554.83 million, a price-to-earnings ratio of -5.06 and a beta of 0.61. The business has a 50 day moving average of $2.26 and a 200 day moving average of $1.47.

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). Invivyd had a negative return on equity of 92.97% and a negative net margin of 119.63%.The firm had revenue of $13.13 million for the quarter, compared to the consensus estimate of $12.00 million. As a group, equities analysts predict that Invivyd, Inc. will post -1.64 EPS for the current year.

Insiders Place Their Bets

In other Invivyd news, Director Kevin F. Mclaughlin bought 50,000 shares of Invivyd stock in a transaction on Wednesday, November 19th. The shares were purchased at an average price of $2.50 per share, with a total value of $125,000.00. Following the acquisition, the director owned 50,000 shares in the company, valued at $125,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 25.40% of the stock is owned by corporate insiders.

Institutional Trading of Invivyd

Several large investors have recently modified their holdings of IVVD. RA Capital Management L.P. acquired a new position in shares of Invivyd during the third quarter valued at about $18,831,000. ADAR1 Capital Management LLC bought a new position in Invivyd in the 3rd quarter valued at $8,108,000. Vanguard Group Inc. grew its holdings in shares of 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 purchasing an additional 1,834,970 shares in the last quarter. 683 Capital Management LLC lifted its stake in Invivyd by 2.3% during the second quarter. 683 Capital Management LLC now owns 3,070,000 shares of the company’s stock worth $2,195,000 after purchasing an additional 70,000 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Invivyd by 15.8% during the 3rd quarter. Millennium Management LLC now owns 1,446,615 shares of the company’s stock valued at $1,591,000 after purchasing an additional 197,522 shares during the last quarter. Institutional investors and hedge funds 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.