Invivyd (NASDAQ:IVVD) Trading Down 6.5% – Time to Sell?
by Sarita Garza · The Markets DailyShares of Invivyd, Inc. (NASDAQ:IVVD – Get Free Report) were down 6.5% during trading on Monday . The stock traded as low as $2.33 and last traded at $2.3550. Approximately 2,741,219 shares traded hands during trading, an increase of 3% from the average daily volume of 2,667,343 shares. The stock had previously closed at $2.52.
Analysts Set New Price Targets
Several research firms have issued reports on IVVD. Zacks Research upgraded shares of Invivyd from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 13th. BTIG Research assumed coverage on Invivyd in a research note on Monday, December 22nd. They set a “buy” rating and a $10.00 target price on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Invivyd in a research report on Monday, December 29th. Cantor Fitzgerald began coverage on shares of Invivyd in a research note on Monday, October 6th. They set an “overweight” rating and a $10.00 price objective for the company. Finally, HC Wainwright boosted their price objective on shares of Invivyd from $5.00 to $10.00 and gave the company a “buy” rating in a report on Friday, October 31st. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Invivyd currently has an average rating of “Hold” and an average target price of $8.00.
Check Out Our Latest Analysis on IVVD
Invivyd Stock Down 2.8%
The business has a 50-day moving average price of $2.30 and a 200-day moving average price of $1.52. The firm has a market capitalization of $571.14 million, a price-to-earnings ratio of -5.21 and a beta of 0.61.
Invivyd (NASDAQ:IVVD – Get Free Report) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). Invivyd had a negative net margin of 119.63% and a negative return on equity of 92.97%. The firm had revenue of $13.13 million for the quarter, compared to analysts’ expectations of $12.00 million. On average, equities research analysts forecast that Invivyd, Inc. will post -1.64 earnings per share for the current year.
Insider Buying and Selling
In related news, Director Kevin F. Mclaughlin purchased 50,000 shares of the firm’s stock in a transaction on Wednesday, November 19th. The stock was bought at an average cost of $2.50 per share, with a total value of $125,000.00. Following the completion of the acquisition, the director owned 50,000 shares of the company’s stock, valued at $125,000. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 25.40% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Invivyd
A number of institutional investors have recently modified their holdings of IVVD. Catalyst Funds Management Pty Ltd purchased a new stake in Invivyd in the 2nd quarter worth $27,000. Vanguard Personalized Indexing Management LLC grew its position 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 valued at $29,000 after purchasing an additional 28,146 shares during the period. Bank of America Corp DE increased its stake in shares of Invivyd by 330.5% during the third quarter. Bank of America Corp DE now owns 49,252 shares of the company’s stock worth $54,000 after purchasing an additional 37,811 shares in the last quarter. Boothbay Fund Management LLC acquired a new position in shares of Invivyd during the 3rd quarter worth about $894,000. Finally, ADAR1 Capital Management LLC purchased a new position in Invivyd in the 3rd quarter valued at about $8,108,000. 70.36% of the stock is currently owned by institutional investors and hedge funds.
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.