Invivyd (NASDAQ:IVVD) Shares Up 6.3% – Here’s Why

Invivyd, Inc. (NASDAQ:IVVD)’s stock price rose 6.3% during trading on Wednesday . The stock traded as high as $1.9498 and last traded at $1.9450. Approximately 1,091,474 shares changed hands during trading, a decline of 60% from the average daily volume of 2,749,728 shares. The stock had previously closed at $1.83.

Analyst Ratings Changes

IVVD has been the topic of several research reports. D. Boral Capital reissued a “hold” rating on shares of Invivyd in a research report on Tuesday, November 25th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Invivyd in a research report on Monday, December 29th. BTIG Research reiterated a “buy” rating and set a $10.00 price target on shares of Invivyd in a research note on Thursday, February 26th. Finally, Zacks Research upgraded Invivyd from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 13th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $8.00.

Invivyd Stock Up 3.6%

The firm has a market cap of $535.53 million, a price-to-earnings ratio of -4.03 and a beta of 0.61. The company’s 50-day moving average price is $1.96 and its 200-day moving average price is $1.86.

Insiders Place Their Bets

In related news, CFO William E. Duke sold 20,964 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $1.58, for a total transaction of $33,123.12. Following the completion of the sale, the chief financial officer directly owned 107,717 shares in the company, valued at approximately $170,192.86. The trade was a 16.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert D. Allen III sold 19,392 shares of the firm’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $1.58, for a total value of $30,639.36. Following the completion of the transaction, the insider owned 114,487 shares in the company, valued at $180,889.46. The trade was a 14.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 227,172 shares of company stock valued at $354,534. 25.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Invivyd

A number of institutional investors have recently made changes to their positions in the stock. Courier Capital LLC purchased a new stake in shares of Invivyd in the 4th quarter valued at approximately $25,000. Bronte Capital Management Pty Ltd. purchased a new position in shares of Invivyd during the 4th quarter worth approximately $27,000. DRW Securities LLC purchased a new position in shares of Invivyd during the 4th quarter worth approximately $27,000. ProShare Advisors LLC acquired a new position in Invivyd during the fourth quarter worth $30,000. Finally, State of Wyoming purchased a new position in shares of Invivyd during the fourth quarter worth $30,000. 70.36% of the stock is currently owned by institutional investors and hedge funds.

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. Its pipeline includes PEMGRADA (pemivibart) injection, a half-life extended investigational monoclonal antibody (mAb) for the prevention of COVID-19 in adults and adolescents; VYD2311, an mAb candidate which is in preclinical studies for the prevention or treatment for COVID-19; and adintrvimab, that is in phase 3 clinical trials for the prevention or treatment of COVID-19.