Invivyd (NASDAQ:IVVD) Shares Gap Up – Here’s Why

Invivyd, Inc. (NASDAQ:IVVD) shares gapped up before the market opened on Thursday . The stock had previously closed at $2.40, but opened at $2.52. Invivyd shares last traded at $2.4550, with a volume of 529,678 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on IVVD shares. BTIG Research started coverage on Invivyd in a research note on Monday, December 22nd. They set a “buy” rating and a $10.00 price target for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Invivyd in a research report on Monday, December 29th. Zacks Research upgraded shares of Invivyd from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 13th. D. Boral Capital reissued a “hold” rating on shares of Invivyd in a research report on Tuesday, November 25th. Finally, HC Wainwright lifted their price objective on shares of Invivyd from $5.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $8.00.

Invivyd Stock Performance

The company has a market capitalization of $587.46 million, a P/E ratio of -5.36 and a beta of 0.61. The company has a 50-day simple moving average of $2.30 and a 200 day simple moving average of $1.51.

Invivyd (NASDAQ:IVVD) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The company had revenue of $13.13 million during the quarter, compared to analyst estimates of $12.00 million. Invivyd had a negative return on equity of 92.97% and a negative net margin of 119.63%. As a group, sell-side analysts forecast that Invivyd, Inc. will post -1.64 earnings per share for the current year.

Insider Activity

In other news, Director Kevin F. Mclaughlin bought 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The stock was acquired at an average cost of $2.50 per share, for a total transaction of $125,000.00. Following the completion of the purchase, the director owned 50,000 shares of the company’s stock, valued at $125,000. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 25.40% of the company’s stock.

Institutional Investors Weigh In On Invivyd

Several institutional investors and hedge funds have recently bought and sold shares of the business. Catalyst Funds Management Pty Ltd bought a new stake in Invivyd in the second quarter valued at about $27,000. Vanguard Personalized Indexing Management LLC grew its stake in shares of Invivyd by 238.6% in the 2nd 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 raised its holdings in shares of Invivyd by 330.5% in the 3rd quarter. Bank of America Corp DE now owns 49,252 shares of the company’s stock worth $54,000 after buying an additional 37,811 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Invivyd during the 4th quarter worth approximately $60,000. Finally, Invesco Ltd. boosted its stake in Invivyd by 190.6% in the 1st quarter. Invesco Ltd. now owns 108,999 shares of the company’s stock valued at $66,000 after buying an additional 71,485 shares in the last quarter. Institutional investors own 70.36% of the company’s stock.

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. 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.