Invivyd (NASDAQ:IVVD) Downgraded to "Strong Sell" Rating by Zacks Research

Key Points

• Invivyd has been downgraded by Zacks Research from a "hold" to a "strong sell" rating, which reflects growing concerns about the company's performance.
• The company reported a quarterly loss of $0.12 per share, significantly missing analysts' expectations and resulting in a negative net margin of 238.33%.
• Despite the downgrade, some research firms still maintain a buy rating on Invivyd, with an average target price of $5.14.

Invivyd (NASDAQ:IVVD - Get Free Report) was downgraded by equities researchers at Zacks Research from a "hold" rating to a "strong sell" rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other research firms have also recently commented on IVVD. HC Wainwright reiterated a "buy" rating and set a $5.00 price target on shares of Invivyd in a report on Wednesday, August 27th. Weiss Ratings reissued a "sell (d-)" rating on shares of Invivyd in a report on Wednesday, October 8th. D. Boral Capital boosted their target price on Invivyd from $1.00 to $2.00 and gave the stock a "buy" rating in a research note on Monday, October 6th. Finally, Cantor Fitzgerald began coverage on shares of Invivyd in a research note on Monday, October 6th. They issued an "overweight" rating and a $10.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat, Invivyd currently has an average rating of "Moderate Buy" and an average target price of $5.14.

Invivyd Stock Performance

Invivyd stock opened at $1.75 on Wednesday. The firm has a market capitalization of $375.22 million, a P/E ratio of -1.90 and a beta of 0.57. The stock's fifty day simple moving average is $1.13 and its 200-day simple moving average is $0.86. Invivyd has a twelve month low of $0.35 and a twelve month high of $2.74.

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

Insiders Place Their Bets

In other Invivyd news, insider Jill Andersen sold 49,402 shares of the 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 completion of the transaction, the insider owned 84,446 shares in the company, valued at approximately $48,134.22. This represents a 36.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 277,654 shares of company stock valued at $167,215. 25.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. grew its stake in Invivyd by 25.5% in the 2nd quarter. Invesco Ltd. now owns 136,755 shares of the company's stock valued at $98,000 after acquiring an additional 27,756 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its position in shares of Invivyd by 238.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 39,941 shares of the company's stock valued at $29,000 after purchasing an additional 28,146 shares during the last quarter. Catalyst Funds Management Pty Ltd purchased a new position in shares of Invivyd during the 2nd quarter worth approximately $27,000. 683 Capital Management LLC increased its stake in shares of Invivyd by 2.3% during the 2nd quarter. 683 Capital Management LLC now owns 3,070,000 shares of the company's stock worth $2,195,000 after purchasing an additional 70,000 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of Invivyd during the 1st quarter worth approximately $65,000. 70.36% of the stock is owned by hedge funds and other institutional investors.

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.

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