Robert Allen III Sells 17,043 Shares of Invivyd (NASDAQ:IVVD) Stock

Invivyd, Inc. (NASDAQ:IVVD) insider Robert Allen III sold 17,043 shares of Invivyd stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $0.84, for a total value of $14,316.12. Following the sale, the insider directly owned 178,765 shares in the company, valued at approximately $150,162.60. This trade represents a 8.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Invivyd Price Performance

Shares of IVVD stock opened at $0.96 on Thursday. Invivyd, Inc. has a 12-month low of $0.48 and a 12-month high of $3.07. The firm has a market capitalization of $282.82 million, a price-to-earnings ratio of -2.91 and a beta of 0.71. The business has a 50 day simple moving average of $0.77 and a 200 day simple moving average of $1.23.

Invivyd (NASDAQ:IVVD) last announced its earnings results on Thursday, August 13th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.03). Invivyd had a negative net margin of 183.90% and a negative return on equity of 59.73%. The business had revenue of $14.29 million for the quarter, compared to the consensus estimate of $14.40 million. On average, equities analysts anticipate that Invivyd, Inc. will post -0.52 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on IVVD. Weiss Ratings reiterated a “sell (d-)” rating on shares of Invivyd in a research report on Friday, July 24th. HC Wainwright reiterated a “buy” rating on shares of Invivyd in a report on Tuesday. Wall Street Zen lowered shares of Invivyd from a “hold” rating to a “strong sell” rating in a research note on Saturday, May 16th. Finally, BTIG Research reaffirmed a “buy” rating on shares of Invivyd in a research note on Tuesday, July 7th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $8.00.

More Invivyd News

Here are the key news stories impacting Invivyd this week:

• Positive Sentiment: Several research firms maintain Buy ratings on Invivyd, and the stock’s average analyst price target remains substantially above its current trading range. Institutional ownership is also significant, with investors holding about 70% of the outstanding shares. MarketBeat Invivyd analyst and institutional data
• Neutral Sentiment: Robert Allen III, Jill Andersen, CFO William E. Duke, Julie Green, and Timothy Edward Lee each sold Invivyd shares on August 17 or 18 at approximately $0.72 or $0.84. The transactions reduced their individual holdings by roughly 9% to 11%. SEC insider transaction filing
• Neutral Sentiment: The filings indicate that the sales were made to cover tax-withholding obligations associated with vested equity awards. That makes them less bearish than discretionary open-market sales intended to reduce exposure.
• Negative Sentiment: The unusually broad participation by multiple insiders could still create a short-term sentiment overhang, particularly for Invivyd’s relatively small market capitalization. Investors also continue to face fundamental risks: the company recently missed quarterly earnings expectations, reported a net loss, and remains dependent on the development and commercialization of its antibody-based infectious-disease pipeline.

Hedge Funds Weigh In On Invivyd

Several institutional investors and hedge funds have recently added to or reduced their stakes in IVVD. OMERS ADMINISTRATION Corp lifted its holdings in shares of Invivyd by 9.0% in the first quarter. OMERS ADMINISTRATION Corp now owns 106,900 shares of the company’s stock valued at $139,000 after purchasing an additional 8,800 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Invivyd by 54.3% during the first quarter. Bank of New York Mellon Corp now owns 27,184 shares of the company’s stock valued at $35,000 after buying an additional 9,568 shares in the last quarter. Courier Capital LLC acquired a new position in Invivyd during the fourth quarter valued at $25,000. Bronte Capital Management Pty Ltd. acquired a new position in Invivyd during the fourth quarter valued at $27,000. Finally, DRW Securities LLC purchased a new stake in Invivyd in the 4th quarter worth about $27,000. 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. 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.