Invivyd (NASDAQ:IVVD) Upgraded by Zacks Research to Hold Rating

Invivyd (NASDAQ:IVVD) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Thursday,Zacks.com reports.

Several other research analysts have also recently weighed in on the stock. HC Wainwright increased their price target on shares of Invivyd from $5.00 to $10.00 and gave the company a “buy” rating in a report on Friday, October 31st. Weiss Ratings reissued 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 issued an “overweight” rating and a $10.00 price objective on the stock. Finally, D. Boral Capital lifted their price target on shares of Invivyd from $1.00 to $2.00 and gave the company a “buy” rating in a research report on Monday, October 6th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Invivyd currently has an average rating of “Moderate Buy” and a consensus target price of $6.39.

Invivyd Trading Up 32.8%

Shares of Invivyd stock traded up $0.58 on Thursday, reaching $2.35. 136,241,658 shares of the company were exchanged, compared to its average volume of 3,973,772. The company has a market capitalization of $547.83 million, a price-to-earnings ratio of -5.00 and a beta of 0.64. Invivyd has a one year low of $0.35 and a one year high of $2.76. The company has a 50-day moving average of $1.56 and a 200 day moving average of $1.05.

Invivyd (NASDAQ:IVVD) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The firm had revenue of $13.13 million during the quarter, compared to the consensus estimate of $12.00 million. Invivyd had a negative net margin of 119.63% and a negative return on equity of 92.97%. Analysts predict that Invivyd will post -1.64 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Jill Andersen sold 49,402 shares of the company’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $0.57, for a total transaction of $28,159.14. Following the sale, the insider owned 84,446 shares in the company, valued at $48,134.22. This represents a 36.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders sold 277,654 shares of company stock worth $167,215. Company insiders own 25.40% of the company’s stock.

Institutional Investors Weigh In On Invivyd

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Invesco Ltd. grew its stake in Invivyd by 25.5% in the 2nd quarter. Invesco Ltd. now owns 136,755 shares of the company’s stock valued at $98,000 after purchasing an additional 27,756 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Invivyd by 238.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 39,941 shares of the company’s stock worth $29,000 after buying an additional 28,146 shares in the last quarter. Catalyst Funds Management Pty Ltd purchased a new position in shares of Invivyd during the second quarter worth about $27,000. 683 Capital Management LLC increased its holdings in shares of Invivyd by 2.3% in the 2nd quarter. 683 Capital Management LLC now owns 3,070,000 shares of the company’s stock worth $2,195,000 after buying an additional 70,000 shares during the last quarter. Finally, Squarepoint Ops LLC raised its position in Invivyd by 188.9% during the third quarter. Squarepoint Ops LLC now owns 107,831 shares of the company’s stock valued at $119,000 after purchasing an additional 70,508 shares in the last quarter. 70.36% of the stock is owned by hedge funds and other institutional investors.

About Invivyd

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.