HC Wainwright Has Negative View of Invivyd FY2024 Earnings

Invivyd, Inc. (NASDAQ:IVVD) – Stock analysts at HC Wainwright reduced their FY2024 earnings estimates for shares of Invivyd in a research note issued on Tuesday, February 4th. HC Wainwright analyst P. Trucchio now expects that the company will earn ($1.64) per share for the year, down from their prior estimate of ($1.63). HC Wainwright has a “Buy” rating and a $10.00 price objective on the stock. The consensus estimate for Invivyd’s current full-year earnings is ($1.57) per share. HC Wainwright also issued estimates for Invivyd’s Q4 2024 earnings at ($0.36) EPS.

Several other research analysts have also weighed in on the stock. Morgan Stanley cut their price objective on shares of Invivyd from $9.50 to $3.55 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. D. Boral Capital reiterated a “buy” rating and set a $9.00 price objective on shares of Invivyd in a report on Monday. Finally, EF Hutton Acquisition Co. I upgraded shares of Invivyd to a “strong-buy” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Invivyd has a consensus rating of “Buy” and an average price target of $7.89.

Invivyd Price Performance

Shares of IVVD stock opened at $2.11 on Thursday. The firm has a market cap of $252.40 million, a P/E ratio of -1.08 and a beta of 0.61. Invivyd has a 1-year low of $0.35 and a 1-year high of $5.10. The firm’s 50-day simple moving average is $0.52 and its 200-day simple moving average is $0.82.

Institutional Trading of Invivyd

Several large investors have recently bought and sold shares of the company. Barclays PLC grew its position in shares of Invivyd by 179.6% during the third quarter. Barclays PLC now owns 117,973 shares of the company’s stock worth $120,000 after buying an additional 75,780 shares in the last quarter. State Street Corp grew its position in shares of Invivyd by 3.7% during the third quarter. State Street Corp now owns 1,018,640 shares of the company’s stock worth $1,039,000 after buying an additional 35,904 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Invivyd during the third quarter worth approximately $27,000. Cubist Systematic Strategies LLC grew its position in shares of Invivyd by 66.1% during the second quarter. Cubist Systematic Strategies LLC now owns 134,452 shares of the company’s stock worth $148,000 after buying an additional 53,499 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of Invivyd during the second quarter worth approximately $421,000. Institutional investors and hedge funds own 70.36% of the company’s stock.

Insider Buying and Selling at Invivyd

In other Invivyd news, Director Terrance Mcguire sold 65,359 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $0.47, for a total value of $30,718.73. Following the completion of the sale, the director now owns 4,012,320 shares of the company’s stock, valued at $1,885,790.40. This trade represents a 1.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 816,466 shares of company stock valued at $423,214 over the last 90 days. 17.90% of the stock is owned by corporate insiders.

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.