Invivyd (NASDAQ:IVVD) Shares Gap Up Following Analyst Upgrade

Invivyd, Inc. (NASDAQ:IVVD)’s stock price gapped up prior to trading on Friday after Zacks Research upgraded the stock from a strong sell rating to a hold rating. The stock had previously closed at $1.77, but opened at $2.56. Invivyd shares last traded at $2.6720, with a volume of 92,210,119 shares trading hands.

Several other brokerages have also commented on IVVD. Weiss Ratings reissued a “sell (e+)” rating on shares of Invivyd in a research note on Friday, October 31st. D. Boral Capital boosted their target price on Invivyd from $1.00 to $2.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. HC Wainwright upped their target price on Invivyd from $5.00 to $10.00 and gave the company a “buy” rating in a report on Friday, October 31st. Finally, Cantor Fitzgerald assumed coverage on Invivyd in a research note on Monday, October 6th. They set an “overweight” rating and a $10.00 price target for the company. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Invivyd presently has an average rating of “Moderate Buy” and a consensus price target of $6.39.

Insider Activity at Invivyd

In related news, insider Jill Andersen sold 49,402 shares of Invivyd stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $0.57, for a total transaction of $28,159.14. Following the completion of the sale, the insider owned 84,446 shares in the company, valued at approximately $48,134.22. This trade represents a 36.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 277,654 shares of company stock worth $167,215 over the last quarter. 25.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Invivyd

Several hedge funds have recently modified their holdings of the company. ADAR1 Capital Management LLC purchased a new stake in shares of Invivyd during the third quarter worth about $8,108,000. Two Sigma Investments LP boosted its position in Invivyd by 40.3% during the third quarter. Two Sigma Investments LP now owns 335,000 shares of the company’s stock worth $368,000 after acquiring an additional 96,308 shares during the last quarter. Bridgeway Capital Management LLC purchased a new stake in Invivyd in the 3rd quarter worth approximately $109,000. Squarepoint Ops LLC grew its stake in Invivyd by 188.9% in the 3rd quarter. Squarepoint Ops LLC now owns 107,831 shares of the company’s stock worth $119,000 after acquiring an additional 70,508 shares during the period. Finally, Jefferies Financial Group Inc. acquired a new position in Invivyd in the 3rd quarter valued at $102,000. 70.36% of the stock is owned by institutional investors and hedge funds.

Invivyd Trading Up 32.8%

The business has a 50 day simple moving average of $1.56 and a two-hundred day simple moving average of $1.05. The company has a market cap of $547.83 million, a PE ratio of -5.00 and a beta of 0.64.

Invivyd (NASDAQ:IVVD) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.06) EPS 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 business had revenue of $13.13 million during the quarter, compared to analysts’ expectations of $12.00 million. On average, equities research analysts expect that Invivyd, Inc. will post -1.64 earnings per share for the current fiscal year.

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.