Invivyd (NASDAQ:IVVD) Shares Gap Up – Still a Buy?

Invivyd, Inc. (NASDAQ:IVVD)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $2.43, but opened at $2.51. Invivyd shares last traded at $2.4350, with a volume of 919,617 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on IVVD shares. D. Boral Capital reissued a “hold” rating on shares of Invivyd in a report on Tuesday, November 25th. Cantor Fitzgerald initiated coverage on Invivyd in a research report on Monday, October 6th. They set an “overweight” rating and a $10.00 target price on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Invivyd in a research report on Wednesday, November 26th. Zacks Research upgraded shares of Invivyd from a “strong sell” rating to a “hold” rating in a report on Thursday, November 13th. Finally, HC Wainwright increased 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. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $7.33.

Invivyd Price Performance

The business has a 50 day simple moving average of $1.84 and a 200 day simple moving average of $1.20. The stock has a market cap of $503.54 million, a PE ratio of -4.60 and a beta of 0.61.

Invivyd (NASDAQ:IVVD) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The firm had revenue of $13.13 million for the quarter, compared to analysts’ expectations 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 fiscal year.

Insider Transactions at Invivyd

In other news, Director Kevin F. Mclaughlin acquired 50,000 shares of Invivyd stock in a transaction dated 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 represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 25.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. RA Capital Management L.P. bought a new stake in Invivyd during the third quarter valued at about $18,831,000. ADAR1 Capital Management LLC bought a new stake in Invivyd during the 3rd quarter valued at approximately $8,108,000. Vanguard Group Inc. grew its holdings in Invivyd by 46.7% in the 3rd quarter. Vanguard Group Inc. now owns 5,762,894 shares of the company’s stock valued at $6,339,000 after buying an additional 1,834,970 shares during the last quarter. 683 Capital Management LLC raised its stake in Invivyd by 2.3% during the 2nd quarter. 683 Capital Management LLC now owns 3,070,000 shares of the company’s stock valued at $2,195,000 after purchasing an additional 70,000 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in Invivyd by 15.8% in the 3rd quarter. Millennium Management LLC now owns 1,446,615 shares of the company’s stock valued at $1,591,000 after purchasing an additional 197,522 shares during the period. 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.