Insider Selling: Invivyd (NASDAQ:IVVD) Insider Sells 20,679 Shares of Stock

Key Points

• Invivyd insider Robert Allen III sold 20,679 shares for approximately $14,889, reducing his direct holdings by 9.55%. The sale was made to cover tax-withholding obligations from vested equity awards.
• Invivyd’s shares recently traded at $0.87, near the lower end of their 52-week range of $0.48 to $3.07. The company missed quarterly EPS expectations, reporting a loss of $0.14 per share versus the $0.11 consensus estimate.
• Institutional investors own 70.36% of Invivyd, while analyst sentiment is mixed: the stock carries a consensus “Hold” rating and an average price target of $8.00.

Invivyd, Inc. (NASDAQ:IVVD - Get Free Report) insider Robert Allen III sold 20,679 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $0.72, for a total transaction of $14,888.88. Following the completion of the transaction, the insider directly owned 195,808 shares of the company's stock, valued at $140,981.76. This trade represents a 9.55% decrease in their position. 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 Price Performance

IVVD stock traded up $0.13 during trading on Tuesday, reaching $0.87. 7,732,095 shares of the company were exchanged, compared to its average volume of 3,061,089. The company has a 50-day moving average of $0.77 and a two-hundred day moving average of $1.23. The company has a market capitalization of $255.75 million, a price-to-earnings ratio of -2.63 and a beta of 0.71. Invivyd, Inc. has a twelve month low of $0.48 and a twelve month high of $3.07.

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). Invivyd had a negative return on equity of 59.73% and a negative net margin of 183.90%.The company had revenue of $14.29 million for the quarter, compared to analyst estimates of $14.40 million. On average, analysts forecast that Invivyd, Inc. will post -0.52 EPS for the current year.

Institutional Trading of Invivyd

Institutional investors and hedge funds have recently bought and sold shares of the stock. Jupiter Topco LLC bought a new position in Invivyd during the 2nd quarter worth $30,048,000. Perceptive Advisors LLC bought a new stake in shares of Invivyd in the 4th quarter valued at about $53,809,000. BVF Inc. IL acquired a new stake in shares of Invivyd in the fourth quarter valued at about $48,227,000. RA Capital Management L.P. acquired a new stake in shares of Invivyd in the third quarter valued at about $18,831,000. Finally, BlackRock Inc. bought a new position in shares of Invivyd during the second quarter worth about $14,076,000. 70.36% of the stock is currently owned by institutional investors and hedge funds.

Invivyd News Roundup

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

Several equities analysts have commented on IVVD shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Invivyd in a research report on Friday, July 24th. HC Wainwright restated a "buy" rating on shares of Invivyd in a report on Tuesday. Wall Street Zen downgraded Invivyd from a "hold" rating to a "strong sell" rating in a research note on Saturday, May 16th. Finally, BTIG Research reiterated a "buy" rating on shares of Invivyd in a report on Tuesday, July 7th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average 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.

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