Invivyd (NASDAQ:IVVD) Trading Down 6% – Here’s Why

Shares of Invivyd, Inc. (NASDAQ:IVVD) fell 6% on Tuesday . The stock traded as low as $2.23 and last traded at $2.2550. 1,724,923 shares traded hands during trading, a decline of 78% from the average session volume of 7,911,324 shares. The stock had previously closed at $2.40.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. HC Wainwright raised their price objective on Invivyd from $5.00 to $10.00 and gave the company a “buy” rating in a report on Friday, October 31st. Zacks Research upgraded Invivyd from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Invivyd in a report on Friday, October 31st. Cantor Fitzgerald started coverage on Invivyd in a report on Monday, October 6th. They set an “overweight” rating and a $10.00 price target on the stock. Finally, D. Boral Capital reaffirmed a “hold” rating on shares of Invivyd in a report on Tuesday. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Invivyd has a consensus rating of “Hold” and a consensus target price of $7.33.

Invivyd Stock Down 5.2%

The firm’s 50-day simple moving average is $1.71 and its 200-day simple moving average is $1.13. The firm has a market capitalization of $530.35 million, a P/E ratio of -4.84 and a beta of 0.63.

Invivyd (NASDAQ:IVVD) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Invivyd had a negative net margin of 119.63% and a negative return on equity of 92.97%. The business had revenue of $13.13 million for the quarter, compared to the consensus estimate of $12.00 million. As a group, analysts expect that Invivyd, Inc. will post -1.64 EPS for the current fiscal year.

Insider Activity at Invivyd

In other news, Director Kevin F. Mclaughlin acquired 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The stock was bought at an average price of $2.50 per share, with a total value of $125,000.00. Following the completion of the acquisition, the director directly owned 50,000 shares of the company’s stock, valued at approximately $125,000. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 25.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Invivyd

Several large investors have recently made changes to their positions in IVVD. Catalyst Funds Management Pty Ltd purchased a new stake in shares of Invivyd during the 2nd quarter worth approximately $27,000. Vanguard Personalized Indexing Management LLC raised its position in Invivyd by 238.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 39,941 shares of the company’s stock worth $29,000 after purchasing an additional 28,146 shares during the period. Bank of America Corp DE grew its position in Invivyd by 330.5% in the 3rd quarter. Bank of America Corp DE now owns 49,252 shares of the company’s stock valued at $54,000 after acquiring an additional 37,811 shares during the last quarter. Nuveen LLC bought a new stake in Invivyd during the 1st quarter valued at about $65,000. Finally, XTX Topco Ltd purchased a new stake in shares of Invivyd in the first quarter valued at approximately $66,000. 70.36% of the stock is currently owned by hedge funds and other institutional investors.

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.