BTIG Research Reaffirms "Buy" Rating for Invivyd (NASDAQ:IVVD)

Key Points

• BTIG Research reaffirmed a “Buy” rating on Invivyd, while analysts overall assign the stock an average “Hold” rating and an average price target of $8.00.
• Invivyd shares opened at $0.79, with a 52-week range of $0.53 to $3.07 and a market capitalization of approximately $231.5 million. The company reported a quarterly loss of $0.14 per share, missing estimates by $0.03.
• Insiders have recently sold shares, including 37,256 shares sold by an insider to cover tax obligations, while institutional investors own 70.36% of Invivyd’s stock.

Invivyd (NASDAQ:IVVD - Get Free Report)'s stock had its "buy" rating reaffirmed by BTIG Research in a research report issued to clients and investors on Monday, Benzinga reports.

Several other brokerages have also recently weighed in on IVVD. HC Wainwright reissued a "buy" rating on shares of Invivyd in a research note on Tuesday, August 18th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Invivyd in a research report on Thursday, August 27th. Finally, Weiss Ratings raised Invivyd from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, September 8th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $8.00.

Invivyd Price Performance

NASDAQ:IVVD opened at $0.79 on Monday. Invivyd has a one year low of $0.53 and a one year high of $3.07. The company has a market cap of $231.53 million, a PE ratio of -2.38 and a beta of 0.81. The firm's 50 day simple moving average is $0.77 and its 200 day simple moving average is $1.13.

Invivyd (NASDAQ:IVVD - Get Free Report) last announced its quarterly earnings results 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). The business had revenue of $14.29 million during the quarter, compared to analyst estimates of $14.40 million. Invivyd had a negative net margin of 183.90% and a negative return on equity of 59.73%. Equities research analysts expect that Invivyd will post -0.51 EPS for the current year.

Insider Activity

In other news, insider Jill Andersen sold 37,256 shares of the business's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $0.72, for a total value of $26,824.32. Following the transaction, the insider owned 314,480 shares in the company, valued at approximately $226,425.60. The trade was a 10.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 228,024 shares of company stock valued at $176,540. 12.25% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Invivyd

A number of hedge funds have recently bought and sold shares of IVVD. DRW Securities LLC acquired a new position in Invivyd in the fourth quarter valued at $27,000. ProShare Advisors LLC acquired a new stake in Invivyd during the 4th quarter worth about $30,000. State of Wyoming bought a new position in shares of Invivyd in the 4th quarter worth about $30,000. Schonfeld Strategic Advisors LLC bought a new position in shares of Invivyd in the 4th quarter worth about $36,000. Finally, CIBC Asset Management Inc bought a new position in shares of Invivyd in the 4th quarter worth about $37,000. Institutional investors own 70.36% of the company's stock.

Invivyd Company Profile

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.

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