Invivyd, Inc. (NASDAQ:IVVD) Stock Has Consensus Target Price of $8.00 According to Brokerages

Shares of Invivyd, Inc. (NASDAQ:IVVD) have been assigned a consensus recommendation of “Hold” from the six ratings firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $8.00.

A number of research analysts recently commented on IVVD shares. Cantor Fitzgerald reissued an “overweight” rating on shares of Invivyd in a report on Thursday, August 27th. BTIG Research restated a “buy” rating on shares of Invivyd in a report on Monday, September 14th. Weiss Ratings raised Invivyd from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, September 8th. Finally, HC Wainwright reiterated a “buy” rating on shares of Invivyd in a research note on Tuesday, August 18th.

Invivyd Price Performance

NASDAQ IVVD opened at $0.95 on Tuesday. The firm has a market capitalization of $280.02 million, a P/E ratio of -2.88 and a beta of 0.81. Invivyd has a 1-year low of $0.53 and a 1-year high of $3.07. The business’s 50-day simple moving average is $0.78 and its 200-day simple moving average is $1.07.

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

Insider Activity at Invivyd

In other Invivyd news, insider Jill Andersen sold 37,256 shares of Invivyd stock in a transaction on Monday, August 17th. The shares were sold at an average price of $0.72, for a total value of $26,824.32. Following the completion of the transaction, the insider owned 314,480 shares of the company’s stock, valued at $226,425.60. The trade was a 10.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 228,024 shares of company stock valued at $176,540. 12.25% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Invivyd

Several large investors have recently added to or reduced their stakes in IVVD. Chicago Partners Investment Group LLC acquired a new stake in Invivyd in the first quarter worth about $25,000. ProShare Advisors LLC bought a new stake in shares of Invivyd during the 4th quarter worth about $30,000. Bank of New York Mellon Corp raised its position in shares of Invivyd by 54.3% during the 1st quarter. Bank of New York Mellon Corp now owns 27,184 shares of the company’s stock worth $35,000 after buying an additional 9,568 shares in the last quarter. SummitTX Capital L.P. acquired a new stake in shares of Invivyd in the 1st quarter worth approximately $37,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Invivyd in the 2nd quarter worth approximately $52,000. 70.36% of the stock is owned by institutional investors and hedge funds.

Invivyd Company Profile

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.