BTIG Research Reaffirms Buy Rating for Invivyd (NASDAQ:IVVD)

Invivyd (NASDAQ:IVVD)‘s stock had its “buy” rating reiterated by stock analysts at BTIG Research in a research report issued on Monday, Benzinga reports.

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

Invivyd Price Performance

Shares of IVVD stock opened at $0.79 on Monday. The company has a market cap of $231.53 million, a price-to-earnings ratio of -2.38 and a beta of 0.81. Invivyd has a 52 week low of $0.53 and a 52 week high of $3.07. The firm has a 50 day moving average of $0.77 and a 200-day moving average of $1.13.

Invivyd (NASDAQ:IVVD) last released its quarterly earnings data 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 company had revenue of $14.29 million during the quarter, compared to the consensus estimate of $14.40 million. Analysts anticipate that Invivyd will post -0.51 earnings per share for the current year.

Insider Buying and Selling

In other Invivyd news, insider Jill Andersen sold 30,706 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $0.84, for a total transaction of $25,793.04. Following the completion of the sale, the insider directly owned 283,774 shares of the company’s stock, valued at approximately $238,370.16. The trade was a 9.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 228,024 shares of company stock worth $176,540. Insiders own 12.25% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Invesco Ltd. grew its holdings in Invivyd by 190.6% during the first quarter. Invesco Ltd. now owns 108,999 shares of the company’s stock worth $66,000 after buying an additional 71,485 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Invivyd by 2,051.0% during the 1st quarter. AQR Capital Management LLC now owns 410,711 shares of the company’s stock worth $249,000 after acquiring an additional 391,617 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Invivyd in the 2nd quarter worth $158,000. Jane Street Group LLC purchased a new stake in shares of Invivyd in the second quarter valued at about $147,000. Finally, Vanguard Group Inc. raised its holdings in shares of Invivyd by 46.7% in the third quarter. Vanguard Group Inc. now owns 5,762,894 shares of the company’s stock valued at $6,339,000 after purchasing an additional 1,834,970 shares during the last quarter. Hedge funds and other institutional investors own 70.36% of the company’s stock.

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.