Invivyd, Inc. (NASDAQ:IVVD) Stock Has Consensus Price Target of $8.00

Shares of Invivyd, Inc. (NASDAQ:IVVD) have been given an average recommendation of “Hold” by the six ratings firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $8.00.

IVVD has been the topic of a number of analyst reports. BTIG Research restated a “buy” rating on shares of Invivyd in a report on Monday, September 14th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Invivyd in a research note on Thursday, August 27th. HC Wainwright reissued a “buy” rating on shares of Invivyd in a report on Tuesday, August 18th. Finally, Weiss Ratings raised Invivyd from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, September 8th.

Invivyd Stock Performance

Shares of Invivyd stock opened at $0.93 on Tuesday. The business has a 50-day simple moving average of $0.78 and a 200-day simple moving average of $1.08. Invivyd has a one year low of $0.53 and a one year high of $3.07. The company has a market cap of $275.36 million, a PE ratio of -2.83 and a beta of 0.81.

Invivyd (NASDAQ:IVVD) last issued its earnings results on Thursday, August 13th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.03). Invivyd had a negative net margin of 183.90% and a negative return on equity of 59.73%. The firm had revenue of $14.29 million during the quarter, compared to analyst estimates of $14.40 million. On average, sell-side analysts predict that Invivyd will post -0.51 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Jill Andersen sold 37,256 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $0.72, for a total transaction of $26,824.32. Following the completion of the transaction, the insider directly owned 314,480 shares of the company’s stock, valued at approximately $226,425.60. This represents a 10.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 228,024 shares of company stock worth $176,540. Corporate insiders own 12.25% of the company’s stock.

Institutional Investors Weigh In On Invivyd

Several institutional investors have recently added to or reduced their stakes in IVVD. ProShare Advisors LLC acquired a new position in Invivyd in the fourth quarter valued at approximately $30,000. Chicago Partners Investment Group LLC acquired a new stake in Invivyd during the first quarter worth approximately $25,000. Bank of New York Mellon Corp raised its holdings in Invivyd by 54.3% during the first quarter. Bank of New York Mellon Corp now owns 27,184 shares of the company’s stock worth $35,000 after purchasing an additional 9,568 shares in the last quarter. SummitTX Capital L.P. purchased a new stake in shares of Invivyd during the 1st quarter worth approximately $37,000. Finally, Rangeley Capital LLC acquired a new position in shares of Invivyd in the 1st quarter valued at $58,000. Hedge funds and other institutional investors own 70.36% of the company’s stock.

About Invivyd

Invivyd, Inc is a biotechnology company focused on developing antibody-based medicines designed to protect against rapidly evolving viral diseases. The company uses its antibody discovery and engineering platform to create therapies intended to maintain activity as viruses mutate and to provide durable protection for people who may not be adequately protected by vaccines.

Invivyd’s lead product is pemivibart, marketed in the United States as Pemgarda. Pemivibart is an intravenously administered monoclonal antibody authorized by the U.S.