Invivyd (NASDAQ:IVVD) Posts Earnings Results, Misses Estimates By $0.03 EPS

Invivyd (NASDAQ:IVVD) announced its earnings results on Thursday. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.03), FiscalAI reports. The company had revenue of $14.29 million during the quarter, compared to the consensus estimate of $14.40 million. Invivyd had a negative net margin of 138.90% and a negative return on equity of 53.48%.

Invivyd Trading Up 0.3%

Shares of IVVD traded up $0.00 during trading hours on Friday, reaching $0.69. The stock had a trading volume of 1,399,205 shares, compared to its average volume of 3,525,276. The firm has a 50-day simple moving average of $0.79 and a 200 day simple moving average of $1.26. Invivyd has a 12 month low of $0.48 and a 12 month high of $3.07. The company has a market capitalization of $202.69 million, a price-to-earnings ratio of -2.24 and a beta of 0.71.

Institutional Trading of Invivyd

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC raised its position in Invivyd by 28.2% in the 4th quarter. Janus Henderson Group PLC now owns 32,543,142 shares of the company’s stock valued at $80,870,000 after buying an additional 7,160,065 shares during the last quarter. RA Capital Management L.P. purchased a new stake in Invivyd in the 3rd quarter valued at about $18,831,000. ADAR1 Capital Management LLC purchased a new stake in Invivyd in the 3rd quarter valued at about $8,108,000. Vanguard Group Inc. boosted its stake in shares of Invivyd by 46.7% in the 3rd 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 during the last quarter. Finally, State Street Corp grew its holdings in shares of Invivyd by 1,636.7% in the fourth quarter. State Street Corp now owns 5,637,593 shares of the company’s stock valued at $13,925,000 after acquiring an additional 5,312,986 shares in the last quarter. 70.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on IVVD. BTIG Research reiterated a “buy” rating on shares of Invivyd in a research report on Tuesday, July 7th. Wall Street Zen downgraded Invivyd from a “hold” rating to a “strong sell” rating in a research note on Saturday, May 16th. HC Wainwright restated a “buy” rating and set a $10.00 target price on shares of Invivyd in a research report on Monday, June 15th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Invivyd in a research note on Friday, July 24th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price 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.