Short Interest in Invivyd, Inc. (NASDAQ:IVVD) Drops By 15.1%

Invivyd, Inc. (NASDAQ:IVVD) was the recipient of a significant decrease in short interest in April. As of April 15th, there was short interest totalling 7,010,000 shares, a decrease of 15.1% from the March 31st total of 8,260,000 shares. Based on an average trading volume of 14,470,000 shares, the days-to-cover ratio is presently 0.5 days. Approximately 9.2% of the shares of the company are sold short.

Analyst Ratings Changes

A number of brokerages have recently commented on IVVD. D. Boral Capital reissued a “buy” rating and issued a $9.00 price objective on shares of Invivyd in a research report on Thursday, March 20th. HC Wainwright reiterated a “buy” rating and set a $10.00 price target on shares of Invivyd in a report on Wednesday, March 26th.

Institutional Investors Weigh In On Invivyd

A number of institutional investors have recently made changes to their positions in IVVD. Jane Street Group LLC lifted its holdings in Invivyd by 290.5% during the 4th quarter. Jane Street Group LLC now owns 117,432 shares of the company’s stock worth $52,000 after purchasing an additional 87,358 shares during the last quarter. Barclays PLC lifted its holdings in shares of Invivyd by 7.8% during the fourth quarter. Barclays PLC now owns 127,180 shares of the company’s stock worth $56,000 after buying an additional 9,207 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Invivyd during the fourth quarter worth $74,000. JPMorgan Chase & Co. boosted its position in shares of Invivyd by 644.1% in the fourth quarter. JPMorgan Chase & Co. now owns 256,900 shares of the company’s stock valued at $114,000 after acquiring an additional 222,375 shares during the period. Finally, Two Sigma Advisers LP grew its stake in shares of Invivyd by 1,276.5% in the fourth quarter. Two Sigma Advisers LP now owns 304,200 shares of the company’s stock valued at $135,000 after acquiring an additional 282,100 shares in the last quarter. Institutional investors own 70.36% of the company’s stock.

Invivyd Price Performance

IVVD stock opened at $0.63 on Friday. Invivyd has a one year low of $0.35 and a one year high of $2.74. The stock has a market cap of $75.38 million, a price-to-earnings ratio of -0.32 and a beta of 0.41. The company has a fifty day moving average price of $0.70 and a two-hundred day moving average price of $0.77.

Invivyd (NASDAQ:IVVD) last posted its earnings results on Thursday, March 20th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.10. The company had revenue of $13.80 million for the quarter, compared to analyst estimates of $13.57 million. Research analysts anticipate that Invivyd will post -1.64 EPS for the current fiscal year.

Invivyd Company 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.