Invivyd (NASDAQ:IVVD) Earns Overweight Rating from Cantor Fitzgerald

Invivyd (NASDAQ:IVVD)‘s stock had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald in a research report issued on Thursday,Benzinga reports.

Several other equities research analysts have also recently weighed in on IVVD. HC Wainwright restated a “buy” rating on shares of Invivyd in a report on Tuesday, August 18th. Weiss Ratings lowered Invivyd from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday. Wall Street Zen cut shares of Invivyd from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 16th. Finally, BTIG Research restated a “buy” rating on shares of Invivyd in a research report on Tuesday, July 7th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $8.00.

Invivyd Stock Performance

Shares of IVVD opened at $0.90 on Thursday. The firm has a market cap of $265.79 million, a price-to-earnings ratio of -2.73 and a beta of 0.71. Invivyd has a fifty-two week low of $0.53 and a fifty-two week high of $3.07. The firm has a 50 day moving average price of $0.78 and a 200-day moving average price of $1.20.

Invivyd (NASDAQ:IVVD) last released its earnings results on Thursday, August 13th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.03). The business had revenue of $14.29 million for the quarter, compared to the consensus estimate of $14.40 million. Invivyd had a negative net margin of 183.90% and a negative return on equity of 59.73%. As a group, equities research analysts predict that Invivyd will post -0.51 earnings per share for the current year.

Insider Transactions at Invivyd

In other Invivyd news, insider Jill Andersen sold 37,256 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $0.72, for a total value of $26,824.32. Following the completion of the transaction, the insider directly owned 314,480 shares in the company, valued at approximately $226,425.60. This represents a 10.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 228,024 shares of company stock worth $176,540. 12.25% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Invivyd

Several hedge funds and other institutional investors have recently modified their holdings of IVVD. OMERS ADMINISTRATION Corp boosted its holdings in shares of Invivyd by 9.0% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 106,900 shares of the company’s stock valued at $139,000 after buying an additional 8,800 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Invivyd by 54.3% in the 1st quarter. Bank of New York Mellon Corp now owns 27,184 shares of the company’s stock worth $35,000 after acquiring an additional 9,568 shares in the last quarter. Bronte Capital Management Pty Ltd. purchased a new position in Invivyd during the 4th quarter valued at about $27,000. DRW Securities LLC purchased a new position in Invivyd during the 4th quarter valued at about $27,000. Finally, ProShare Advisors LLC purchased a new position in Invivyd during the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 70.36% of the company’s stock.

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. 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.