Invivyd (NASDAQ:IVVD) Stock Price Up 6.3% – Still a Buy?

Invivyd, Inc. (NASDAQ:IVVD) shot up 6.3% during trading on Wednesday . The stock traded as high as $1.9498 and last traded at $1.9450. 1,091,474 shares traded hands during trading, a decline of 60% from the average session volume of 2,749,728 shares. The stock had previously closed at $1.83.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on IVVD shares. BTIG Research restated a “buy” rating and issued a $10.00 target price on shares of Invivyd in a report on Thursday, February 26th. Zacks Research raised shares of Invivyd from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 13th. D. Boral Capital reissued a “hold” rating on shares of Invivyd in a research note on Tuesday, November 25th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Invivyd in a research note on Monday, December 29th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $8.00.

Invivyd Stock Performance

The firm has a market capitalization of $535.53 million, a PE ratio of -4.03 and a beta of 0.61. The company has a fifty day simple moving average of $1.96 and a two-hundred day simple moving average of $1.86.

Insiders Place Their Bets

In other Invivyd news, insider Julie Green sold 20,964 shares of the business’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $1.58, for a total value of $33,123.12. Following the completion of the transaction, the insider directly owned 107,717 shares in the company, valued at approximately $170,192.86. The trade was a 16.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO William E. Duke sold 20,964 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $1.58, for a total transaction of $33,123.12. Following the completion of the sale, the chief financial officer owned 107,717 shares in the company, valued at $170,192.86. This represents a 16.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 227,172 shares of company stock valued at $354,534 in the last three months. 25.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Invivyd

Institutional investors and hedge funds have recently bought and sold shares of the company. Courier Capital LLC purchased a new position in Invivyd in the fourth quarter worth $25,000. Bronte Capital Management Pty Ltd. acquired a new stake in shares of Invivyd in the 4th quarter worth $27,000. Catalyst Funds Management Pty Ltd purchased a new position in Invivyd during the 2nd quarter worth $27,000. DRW Securities LLC purchased a new position in Invivyd during the 4th quarter worth $27,000. Finally, ProShare Advisors LLC acquired a new position in Invivyd during the 4th quarter valued at about $30,000. 70.36% of the stock is owned by hedge funds and other institutional investors.

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.