Redmile Group LLC Sells 726,934 Shares of Invivyd, Inc. $IVVD

Key Points

• Redmile Group LLC has reduced its stake in Invivyd, Inc. by 24.1%, owning approximately 1.91% of the company after selling 726,934 shares during the first quarter.
• Invivyd's recent earnings report showed a loss per share of ($0.12), missing estimates by ($0.08), and a significant negative net margin of 238.33%.
• Brokerage firms have issued mixed ratings on Invivyd, with target prices ranging from $1.00 to $5.00, leading to an average rating of "Buy" and a consensus price target of $3.18.

Redmile Group LLC trimmed its holdings in Invivyd, Inc. (NASDAQ:IVVD - Free Report) by 24.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,285,320 shares of the company's stock after selling 726,934 shares during the quarter. Redmile Group LLC owned 1.91% of Invivyd worth $1,383,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of IVVD. Barclays PLC lifted its holdings in Invivyd by 7.8% during the 4th quarter. Barclays PLC now owns 127,180 shares of the company's stock worth $56,000 after buying an additional 9,207 shares in the last quarter. Invesco Ltd. raised its position in shares of Invivyd by 190.6% in the first quarter. Invesco Ltd. now owns 108,999 shares of the company's stock valued at $66,000 after buying an additional 71,485 shares during the last quarter. Jane Street Group LLC grew its holdings in Invivyd by 290.5% in the fourth quarter. Jane Street Group LLC now owns 117,432 shares of the company's stock valued at $52,000 after purchasing an additional 87,358 shares during the period. Nuveen LLC purchased a new stake in Invivyd during the first quarter worth approximately $65,000. Finally, XTX Topco Ltd purchased a new stake in Invivyd during the first quarter worth approximately $66,000. Institutional investors and hedge funds own 70.36% of the company's stock.

Invivyd Trading Up 14.3%

Shares of IVVD stock traded up $0.14 on Friday, reaching $1.14. The company had a trading volume of 7,592,216 shares, compared to its average volume of 13,393,301. The company has a 50-day moving average of $0.77 and a 200-day moving average of $0.78. Invivyd, Inc. has a 12 month low of $0.35 and a 12 month high of $2.74. The stock has a market cap of $136.96 million, a PE ratio of -1.24 and a beta of 0.55.

Invivyd (NASDAQ:IVVD - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.08). The firm had revenue of $11.79 million for the quarter, compared to analyst estimates of $23.16 million. Invivyd had a negative return on equity of 177.89% and a negative net margin of 238.33%. Sell-side analysts anticipate that Invivyd, Inc. will post -1.64 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on IVVD. D. Boral Capital lowered their price target on shares of Invivyd from $3.00 to $1.00 and set a "buy" rating for the company in a research report on Monday, August 25th. HC Wainwright reiterated a "buy" rating and issued a $5.00 target price on shares of Invivyd in a research note on Wednesday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $3.18.

Insider Activity at Invivyd

In related news, insider Jill Andersen sold 49,402 shares of the firm's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $0.57, for a total value of $28,159.14. Following the transaction, the insider owned 84,446 shares in the company, valued at approximately $48,134.22. This trade represents a 36.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 277,654 shares of company stock valued at $167,215 in the last quarter. 25.40% of the stock is currently owned by company insiders.

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.