Invivyd (NASDAQ:IVVD) Issues Quarterly Earnings Results

Invivyd (NASDAQ:IVVD) issued its earnings results on Thursday, August 13th. 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 59.73%. The company had revenue of $14.29 million during the quarter, compared to analysts’ expectations of $14.40 million.

Invivyd Stock Performance

IVVD stock opened at $0.95 on Tuesday. The stock’s 50 day moving average price is $0.78 and its 200 day moving average price is $1.07. The firm has a market cap of $280.02 million, a P/E ratio of -2.88 and a beta of 0.81. Invivyd has a 1 year low of $0.53 and a 1 year high of $3.07.

Analyst Upgrades and Downgrades

IVVD has been the subject of several research analyst reports. Weiss Ratings raised Invivyd from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, September 8th. BTIG Research reissued a “buy” rating on shares of Invivyd in a report on Monday, September 14th. HC Wainwright restated a “buy” rating on shares of Invivyd in a research report on Tuesday, August 18th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Invivyd in a research note on Thursday, August 27th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $8.00.

Insider Buying and Selling at Invivyd

In other news, insider Jill Andersen sold 37,256 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $0.72, for a total value of $26,824.32. Following the sale, the insider directly owned 314,480 shares in the company, valued at $226,425.60. This represents a 10.59% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 228,024 shares of company stock valued at $176,540 over the last ninety days. Insiders own 12.25% of the company’s stock.

About Invivyd

Invivyd, Inc is a biotechnology company focused on developing antibody-based medicines designed to protect against rapidly evolving viral diseases. The company uses its antibody discovery and engineering platform to create therapies intended to maintain activity as viruses mutate and to provide durable protection for people who may not be adequately protected by vaccines.

Invivyd’s lead product is pemivibart, marketed in the United States as Pemgarda. Pemivibart is an intravenously administered monoclonal antibody authorized by the U.S.