Insider Selling: Invivyd (NASDAQ:IVVD) CFO Sells 18,425 Shares of Stock

Key Points

• Invivyd CFO William Duke sold 18,425 shares at an average price of $0.84, generating $15,477. The sale reduced his holdings by 9.83% and was made to cover tax withholding tied to vested equity awards.
• Invivyd shares rose 17.2% to $0.87 during Tuesday trading, with volume significantly above average. The stock has a market capitalization of roughly $255.8 million and trades well below its 52-week high of $3.07.
• The company reported a quarterly loss of $0.14 per share, missing estimates by $0.03, while revenue of $14.29 million was slightly below expectations. Analysts collectively rate the stock “Hold,” with a consensus price target of $8.00.

Invivyd, Inc. (NASDAQ:IVVD - Get Free Report) CFO William Duke sold 18,425 shares of the company's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $0.84, for a total transaction of $15,477.00. Following the completion of the transaction, the chief financial officer owned 168,937 shares in the company, valued at approximately $141,907.08. The trade was a 9.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Invivyd Stock Up 17.2%

IVVD stock traded up $0.13 during trading on Tuesday, hitting $0.87. The company had a trading volume of 7,732,095 shares, compared to its average volume of 3,061,089. The firm has a market capitalization of $255.75 million, a P/E ratio of -2.63 and a beta of 0.71. Invivyd, Inc. has a 52-week low of $0.48 and a 52-week high of $3.07. The company has a 50 day simple moving average of $0.77 and a 200-day simple moving average of $1.23.

Invivyd (NASDAQ:IVVD - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.03). The company had revenue of $14.29 million for the quarter, compared to the consensus estimate of $14.40 million. Invivyd had a negative net margin of 183.90% and a negative return on equity of 59.73%. Sell-side analysts forecast that Invivyd, Inc. will post -0.52 earnings per share for the current year.

Institutional Trading of Invivyd

Several hedge funds have recently modified their holdings of IVVD. United Capital Financial Advisors LLC bought a new stake in shares of Invivyd in the 2nd quarter valued at about $84,000. Bank of America Corp DE purchased a new position in shares of Invivyd in the 2nd quarter worth approximately $311,000. Jupiter Topco LLC bought a new position in shares of Invivyd during the 2nd quarter worth approximately $30,048,000. ADAR1 Capital Management LLC bought a new position in shares of Invivyd during the 2nd quarter worth approximately $3,322,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Invivyd during the second quarter valued at approximately $52,000. 70.36% of the stock is owned by hedge funds and other institutional investors.

Invivyd News Summary

Here are the key news stories impacting Invivyd this week:

• Neutral Sentiment: Robert D. Allen III, Jill Andersen, CFO William E. Duke, Julie Green, and Timothy Edward Lee each sold shares at prices of approximately $0.72 or $0.84. The sales reduced each insider’s direct holdings by roughly 9% to 11%. SEC insider transaction filing
• Neutral Sentiment: The filings state that the transactions were made to cover tax-withholding obligations tied to the vesting of equity awards. Because the sales were not described as discretionary reductions or based on a negative outlook, they are less concerning than open-market sales intended to exit positions. SEC insider transaction filing
• Negative Sentiment: The concentration of sales by multiple insiders may nevertheless create a modest overhang for Invivyd stock, particularly given the company’s small market capitalization and recent elevated trading volume. However, the disclosed tax-related purpose limits the bearish signal.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wall Street Zen lowered Invivyd from a "hold" rating to a "strong sell" rating in a report on Saturday, May 16th. BTIG Research restated a "buy" rating on shares of Invivyd in a report on Tuesday, July 7th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Invivyd in a research report on Friday, July 24th. Finally, HC Wainwright reiterated a "buy" rating on shares of Invivyd in a report on Tuesday. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus 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.

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