Invivyd’s (IVVD) “Buy” Rating Reiterated at BTIG Research

by · The Markets Daily

BTIG Research reaffirmed their buy rating on shares of Invivyd (NASDAQ:IVVD – Free Report) in a research report report published on Monday morning,Benzinga reports.

Other equities research analysts have also recently issued research reports about the stock. HC Wainwright reissued a “buy” rating on shares of Invivyd in a report on Tuesday, August 18th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Invivyd in a report on Thursday, August 27th. Finally, Weiss Ratings upgraded Invivyd from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, September 8th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $8.00.

Check Out Our Latest Analysis on IVVD

Invivyd Stock Down 3.0%

IVVD opened at $0.81 on Monday. The firm has a 50-day moving average price of $0.76 and a 200-day moving average price of $1.12. Invivyd has a twelve month low of $0.53 and a twelve month high of $3.07. The company has a market capitalization of $237.37 million, a price-to-earnings ratio of -2.44 and a beta of 0.81.

Invivyd (NASDAQ:IVVD – Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.03). The business had revenue of $14.29 million for the quarter, compared to analysts’ expectations of $14.40 million. Invivyd had a negative net margin of 183.90% and a negative return on equity of 59.73%. On average, sell-side analysts expect that Invivyd will post -0.51 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Jill Andersen sold 37,256 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $0.72, for a total transaction of $26,824.32. Following the sale, the insider owned 314,480 shares of the company’s stock, valued at approximately $226,425.60. This represents a 10.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 228,024 shares of company stock worth $176,540 over the last three months. 12.25% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in IVVD. Jupiter Topco LLC bought a new position in Invivyd in the 2nd quarter worth about $30,048,000. BlackRock Inc. bought a new stake in shares of Invivyd during the 2nd quarter valued at about $14,076,000. ADAR1 Capital Management LLC bought a new stake in shares of Invivyd during the 2nd quarter valued at about $3,322,000. Perceptive Advisors LLC purchased a new position in shares of Invivyd during the fourth quarter worth about $53,809,000. Finally, Eventide Asset Management LLC purchased a new position in shares of Invivyd during the fourth quarter worth about $14,349,000. 70.36% of the stock is currently owned by hedge funds and other institutional investors.

About Invivyd

(Get Free Report)

Invivyd, Inc is a biotechnology company focused on developing antibody-based medicines designed to protect against rapidly evolving viral diseases. The company uses its antibody discovery and engineering platform to create therapies intended to maintain activity as viruses mutate and to provide durable protection for people who may not be adequately protected by vaccines.

Invivyd’s lead product is pemivibart, marketed in the United States as Pemgarda. Pemivibart is an intravenously administered monoclonal antibody authorized by the U.S.

Featured Articles