Invivyd, Inc. (NASDAQ:IVVD) Short Interest Down 18.5% in November

Invivyd, Inc. (NASDAQ:IVVD) was the target of a large decline in short interest in the month of November. As of November 15th, there was short interest totalling 6,740,000 shares, a decline of 18.5% from the October 31st total of 8,270,000 shares. Approximately 9.2% of the company’s stock are sold short. Based on an average daily volume of 529,200 shares, the days-to-cover ratio is presently 12.7 days.

Invivyd Price Performance

NASDAQ IVVD traded up $0.00 on Monday, hitting $0.70. 756,915 shares of the stock were exchanged, compared to its average volume of 645,807. The company has a market capitalization of $83.68 million, a PE ratio of -0.36 and a beta of 0.65. The business’s fifty day moving average is $0.92 and its 200 day moving average is $1.16. Invivyd has a 52 week low of $0.58 and a 52 week high of $5.20.

Institutional Investors Weigh In On Invivyd

Institutional investors and hedge funds have recently modified their holdings of the company. Proficio Capital Partners LLC acquired a new position in Invivyd during the third quarter worth approximately $27,000. XTX Topco Ltd lifted its holdings in Invivyd by 68.1% during the 2nd quarter. XTX Topco Ltd now owns 37,938 shares of the company’s stock valued at $42,000 after purchasing an additional 15,376 shares during the last quarter. SG Americas Securities LLC boosted its position in Invivyd by 198.6% during the second quarter. SG Americas Securities LLC now owns 37,893 shares of the company’s stock worth $42,000 after purchasing an additional 25,201 shares during the period. Cornercap Investment Counsel Inc. acquired a new position in shares of Invivyd in the second quarter valued at $86,000. Finally, Rhumbline Advisers raised its position in shares of Invivyd by 4,434.1% in the second quarter. Rhumbline Advisers now owns 84,017 shares of the company’s stock valued at $92,000 after purchasing an additional 82,164 shares during the period. 70.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

IVVD has been the topic of a number of research reports. EF Hutton Acquisition Co. I raised shares of Invivyd to a “strong-buy” rating in a research note on Wednesday, October 30th. HC Wainwright reduced their target price on shares of Invivyd from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, November 20th. D. Boral Capital reissued a “buy” rating and issued a $9.00 price target on shares of Invivyd in a research note on Thursday, November 21st. Finally, Morgan Stanley reduced their price objective on Invivyd from $9.50 to $3.55 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Invivyd currently has a consensus rating of “Buy” and an average price target of $7.89.

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.