Invivyd (NASDAQ:IVVD) Announces Quarterly Earnings Results

Invivyd (NASDAQ:IVVD) released its quarterly earnings results on Thursday. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01), Zacks reports. The firm had revenue of $13.13 million for 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%.

Invivyd Trading Up 2.9%

Shares of Invivyd stock traded up $0.05 during trading on Friday, hitting $1.59. 2,846,911 shares of the stock were exchanged, compared to its average volume of 5,027,118. The stock has a market capitalization of $339.84 million, a price-to-earnings ratio of -3.37 and a beta of 0.64. The company has a fifty day moving average price of $1.48 and a 200-day moving average price of $1.01. Invivyd has a 1-year low of $0.35 and a 1-year high of $2.74.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on IVVD shares. 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 report on Friday, October 31st. D. Boral Capital raised their target price on shares of Invivyd from $1.00 to $2.00 and gave the company a “buy” rating in a research report on Monday, October 6th. Zacks Research cut shares of Invivyd from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 15th. Cantor Fitzgerald began coverage on shares of Invivyd in a research note on Monday, October 6th. They set an “overweight” rating and a $10.00 price objective for the company. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Invivyd in a report on Friday, October 31st. Four analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $6.39.

Insider Transactions at Invivyd

In related news, insider Jill Andersen sold 49,402 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $0.57, for a total value of $28,159.14. Following the completion of the sale, the insider directly owned 84,446 shares in the company, valued at approximately $48,134.22. This trade represents a 36.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last three months, insiders have sold 277,654 shares of company stock valued at $167,215. Company insiders own 25.40% of the company’s stock.

Institutional Trading of Invivyd

Several institutional investors and hedge funds have recently bought and sold shares of the business. Invesco Ltd. boosted its holdings 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 purchasing an additional 71,485 shares during the period. AQR Capital Management LLC raised its position in shares of Invivyd by 2,051.0% in the first quarter. AQR Capital Management LLC now owns 410,711 shares of the company’s stock valued at $249,000 after buying an additional 391,617 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Invivyd in the second quarter valued at approximately $158,000. Jane Street Group LLC bought a new stake in shares of Invivyd in the second quarter valued at approximately $147,000. Finally, Vanguard Group Inc. grew its position in Invivyd by 46.7% during the third quarter. Vanguard Group Inc. now owns 5,762,894 shares of the company’s stock worth $6,339,000 after buying an additional 1,834,970 shares in the last quarter. Institutional investors own 70.36% of the company’s stock.

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.