Invivyd (NASDAQ:IVVD) Announces Quarterly Earnings Results

Invivyd (NASDAQ:IVVD) issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.03), FiscalAI reports. Invivyd had a negative return on equity of 59.73% and a negative net margin of 183.90%.The business had revenue of $14.29 million for the quarter, compared to analyst estimates of $14.40 million.

Invivyd Stock Performance

Invivyd stock opened at $0.95 on Tuesday. The firm has a market cap of $281.47 million, a price-to-earnings ratio of -2.89 and a beta of 0.71. Invivyd has a 1 year low of $0.53 and a 1 year high of $3.07. The firm’s 50 day moving average price is $0.78 and its two-hundred day moving average price is $1.18.

Insider Activity at Invivyd

In other news, insider Jill Andersen sold 30,706 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $0.84, for a total transaction of $25,793.04. Following the completion of the sale, the insider directly owned 283,774 shares of the company’s stock, valued at $238,370.16. This trade represents a 9.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 228,024 shares of company stock worth $176,540. 12.25% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Invivyd

Institutional investors and hedge funds have recently modified their holdings of the stock. DRW Securities LLC acquired a new position in shares of Invivyd in the 4th quarter valued at $27,000. State of Wyoming acquired a new stake in Invivyd during the 4th quarter worth about $30,000. Schonfeld Strategic Advisors LLC acquired a new stake in Invivyd during the 4th quarter worth about $36,000. CIBC Asset Management Inc purchased a new stake in Invivyd during the fourth quarter valued at about $37,000. Finally, Bank of America Corp DE boosted its holdings in shares of Invivyd by 330.5% in the third quarter. Bank of America Corp DE now owns 49,252 shares of the company’s stock worth $54,000 after buying an additional 37,811 shares during the period. 70.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on IVVD. Cantor Fitzgerald reissued an “overweight” rating on shares of Invivyd in a research note on Thursday, August 27th. BTIG Research restated a “buy” rating on shares of Invivyd in a research report on Tuesday, July 7th. HC Wainwright reissued a “buy” rating on shares of Invivyd in a report on Tuesday, August 18th. Weiss Ratings cut Invivyd from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, August 24th. Finally, Wall Street Zen downgraded Invivyd from a “hold” rating to a “strong sell” rating in a research note on Saturday, May 16th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Invivyd currently has an average rating of “Hold” and an average price target of $8.00.

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.