Invivyd (NASDAQ:IVVD) Announces Quarterly Earnings Results

Invivyd (NASDAQ:IVVD) announced its quarterly earnings results on Thursday. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.03), FiscalAI reports. Invivyd had a negative net margin of 183.90% and a negative return on equity of 59.89%. The company had revenue of $14.29 million for the quarter, compared to analysts’ expectations of $14.40 million.

Invivyd Price Performance

Shares of IVVD traded up $0.03 on Friday, reaching $0.72. The company’s stock had a trading volume of 2,024,909 shares, compared to its average volume of 3,065,081. Invivyd has a 12-month low of $0.48 and a 12-month high of $3.07. The stock has a market capitalization of $212.12 million, a P/E ratio of -2.18 and a beta of 0.71. The stock’s 50 day simple moving average is $0.78 and its two-hundred day simple moving average is $1.25.

Institutional Investors Weigh In On Invivyd

A number of hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC increased its stake in shares of Invivyd by 28.2% in the 4th quarter. Janus Henderson Group PLC now owns 32,543,142 shares of the company’s stock worth $80,870,000 after purchasing an additional 7,160,065 shares in the last quarter. RA Capital Management L.P. purchased a new position in Invivyd during the third quarter valued at $18,831,000. ADAR1 Capital Management LLC bought a new stake in Invivyd during the third quarter valued at about $8,108,000. Vanguard Group Inc. grew its holdings in Invivyd by 46.7% during the third quarter. Vanguard Group Inc. now owns 5,762,894 shares of the company’s stock valued at $6,339,000 after purchasing an additional 1,834,970 shares during the period. Finally, State Street Corp increased its position in Invivyd by 1,636.7% in the fourth quarter. State Street Corp now owns 5,637,593 shares of the company’s stock worth $13,925,000 after buying an additional 5,312,986 shares in the last quarter. Institutional investors own 70.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on IVVD. HC Wainwright reissued a “buy” rating and set a $10.00 price objective on shares of Invivyd in a report on Monday, June 15th. BTIG Research restated a “buy” rating on shares of Invivyd in a report on Tuesday, July 7th. Wall Street Zen downgraded shares of Invivyd from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Invivyd in a report on Friday, July 24th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $8.00.

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.