Short Interest in Invivyd, Inc. (NASDAQ:IVVD) Decreases By 28.8%

Invivyd, Inc. (NASDAQ:IVVD) was the recipient of a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 6,660,000 shares, a decrease of 28.8% from the February 28th total of 9,360,000 shares. Based on an average trading volume of 14,530,000 shares, the short-interest ratio is currently 0.5 days. Approximately 8.8% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on IVVD shares. HC Wainwright reaffirmed a “buy” rating and issued a $10.00 price target on shares of Invivyd in a research report on Wednesday, March 26th. D. Boral Capital reaffirmed a “buy” rating and issued a $9.00 target price on shares of Invivyd in a report on Thursday, March 20th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Invivyd presently has an average rating of “Buy” and a consensus target price of $7.89.

Institutional Investors Weigh In On Invivyd

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC lifted its holdings in shares of Invivyd by 290.5% during the 4th quarter. Jane Street Group LLC now owns 117,432 shares of the company’s stock valued at $52,000 after buying an additional 87,358 shares during the period. Barclays PLC increased its position in Invivyd by 7.8% during the fourth quarter. Barclays PLC now owns 127,180 shares of the company’s stock valued at $56,000 after acquiring an additional 9,207 shares during the last quarter. Renaissance Technologies LLC bought a new position in Invivyd in the fourth quarter valued at about $74,000. JPMorgan Chase & Co. boosted its position in Invivyd by 644.1% in the fourth quarter. JPMorgan Chase & Co. now owns 256,900 shares of the company’s stock worth $114,000 after purchasing an additional 222,375 shares during the last quarter. Finally, Two Sigma Advisers LP grew its stake in shares of Invivyd by 1,276.5% during the 4th quarter. Two Sigma Advisers LP now owns 304,200 shares of the company’s stock valued at $135,000 after purchasing an additional 282,100 shares during the period. Hedge funds and other institutional investors own 70.36% of the company’s stock.

Invivyd Stock Performance

Shares of NASDAQ:IVVD traded down $0.07 during midday trading on Tuesday, reaching $0.54. 1,953,736 shares of the company’s stock traded hands, compared to its average volume of 4,230,866. Invivyd has a one year low of $0.35 and a one year high of $4.24. The company has a market cap of $64.78 million, a price-to-earnings ratio of -0.28 and a beta of 0.09. The stock has a 50 day moving average of $1.01 and a 200 day moving average of $0.85.

Invivyd (NASDAQ:IVVD) last posted its earnings results on Thursday, March 20th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.10. The company had revenue of $13.80 million for the quarter, compared to the consensus estimate of $13.57 million. Sell-side analysts predict that Invivyd will post -1.64 EPS for the current fiscal year.

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.