Invivyd (NASDAQ:IVVD) Trading Up 7% – Still a Buy?

Shares of Invivyd, Inc. (NASDAQ:IVVD) were up 7% during trading on Monday . The stock traded as high as $2.35 and last traded at $2.3850. Approximately 706,068 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 7,767,808 shares. The stock had previously closed at $2.23.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. D. Boral Capital reiterated a “hold” rating on shares of Invivyd in a research note on Tuesday, November 25th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Invivyd in a report on Tuesday, December 2nd. Zacks Research raised shares of Invivyd from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 13th. HC Wainwright lifted their price objective on shares of Invivyd from $5.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Finally, Cantor Fitzgerald assumed coverage on Invivyd in a report on Monday, October 6th. They issued an “overweight” rating and a $10.00 target price on the stock. Two 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $7.33.

Invivyd Stock Up 7.0%

The stock has a market cap of $556.00 million, a PE ratio of -5.07 and a beta of 0.61. The stock has a fifty day moving average of $1.91 and a 200-day moving average of $1.23.

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). The business had revenue of $13.13 million during the quarter, compared to analyst estimates of $12.00 million. Invivyd had a negative net margin of 119.63% and a negative return on equity of 92.97%. Equities research analysts forecast that Invivyd, Inc. will post -1.64 earnings per share for the current fiscal year.

Insider Activity at Invivyd

In other Invivyd news, Director Kevin F. Mclaughlin bought 50,000 shares of the business’s stock in a transaction on Wednesday, November 19th. The stock was bought at an average price of $2.50 per share, for a total transaction of $125,000.00. Following the completion of the transaction, the director owned 50,000 shares in the company, valued at approximately $125,000. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 25.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Invivyd

Several hedge funds have recently bought and sold shares of IVVD. RA Capital Management L.P. purchased a new stake in shares of Invivyd during the third quarter worth about $18,831,000. ADAR1 Capital Management LLC purchased a new stake in Invivyd during the third quarter valued at about $8,108,000. Vanguard Group Inc. increased its stake 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 acquiring an additional 1,834,970 shares during the last quarter. 683 Capital Management LLC grew its holdings in shares of Invivyd by 2.3% during the 2nd quarter. 683 Capital Management LLC now owns 3,070,000 shares of the company’s stock worth $2,195,000 after purchasing an additional 70,000 shares during the period. Finally, Millennium Management LLC raised its holdings in Invivyd by 15.8% in the third quarter. Millennium Management LLC now owns 1,446,615 shares of the company’s stock valued at $1,591,000 after buying an additional 197,522 shares during the period. Hedge funds and other 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.