Brokerages Set Invivyd, Inc. (NASDAQ:IVVD) PT at $8.00

Invivyd, Inc. (NASDAQ:IVVD) has been assigned an average rating of “Hold” from the six analysts that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $8.00.

A number of equities analysts have recently issued reports on IVVD shares. Wall Street Zen cut shares of Invivyd from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 16th. BTIG Research reaffirmed a “buy” rating on shares of Invivyd in a research report on Tuesday, July 7th. Weiss Ratings lowered Invivyd from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, August 24th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Invivyd in a report on Thursday, August 27th. Finally, HC Wainwright reissued a “buy” rating on shares of Invivyd in a research report on Tuesday, August 18th.

Insiders Place Their Bets

In related news, insider Jill Andersen sold 37,256 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $0.72, for a total value of $26,824.32. Following the transaction, the insider owned 314,480 shares of the company’s stock, valued at approximately $226,425.60. This trade represents a 10.59% decrease in their position. The sale was disclosed in a legal filing 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 valued at $176,540. 12.25% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Invivyd

Several large investors have recently bought and sold shares of IVVD. Jupiter Topco LLC purchased a new position in Invivyd during the 2nd quarter worth $30,048,000. Perceptive Advisors LLC purchased a new stake in Invivyd in the 4th quarter valued at about $53,809,000. BVF Inc. IL bought a new position in shares of Invivyd during the 4th quarter worth approximately $48,227,000. RA Capital Management L.P. bought a new stake in Invivyd during the third quarter worth $18,831,000. Finally, BlackRock Inc. bought a new stake in Invivyd during the second quarter worth $14,076,000. 70.36% of the stock is currently owned by institutional investors.

Invivyd Stock Performance

Invivyd stock opened at $0.83 on Friday. The stock has a market capitalization of $246.12 million, a price-to-earnings ratio of -2.53 and a beta of 0.81. Invivyd has a 52-week low of $0.53 and a 52-week high of $3.07. The stock’s 50 day moving average price is $0.78 and its two-hundred day moving average price is $1.17.

Invivyd (NASDAQ:IVVD) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.03). Invivyd had a negative return on equity of 59.73% and a negative net margin of 183.90%.The company had revenue of $14.29 million for the quarter, compared to analyst estimates of $14.40 million. On average, equities research analysts forecast that Invivyd will post -0.51 EPS for the current year.

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.