Invivyd (NASDAQ:IVVD) Now Covered by Cantor Fitzgerald

Key Points

• Cantor Fitzgerald has initiated coverage on Invivyd (NASDAQ:IVVD), assigning it an "overweight" rating with a price target of $10.00.
• Invivyd's quarterly earnings report showed earnings per share of ($0.12), missing estimates, with revenues of $11.79 million against a consensus estimate of $23.16 million.
• The stock has a current market cap of $139.37 million and has seen varied analyst ratings, resulting in a consensus rating of "Moderate Buy" with an average price target of $4.89.

Stock analysts at Cantor Fitzgerald assumed coverage on shares of Invivyd (NASDAQ:IVVD - Get Free Report) in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage set an "overweight" rating and a $10.00 price target on the stock.

Other analysts have also issued research reports about the stock. 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 report on Monday, August 25th. Weiss Ratings reissued a "sell (d-)" rating on shares of Invivyd in a research note on Saturday, September 27th. Finally, HC Wainwright restated a "buy" rating and set a $5.00 target price on shares of Invivyd in a research report on Wednesday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $4.89.

Invivyd Stock Performance

Shares of IVVD opened at $1.16 on Monday. The stock has a fifty day moving average price of $0.96 and a two-hundred day moving average price of $0.79. The company has a market cap of $139.37 million, a price-to-earnings ratio of -1.26 and a beta of 0.57. Invivyd has a 52-week low of $0.35 and a 52-week high of $2.74.

Invivyd (NASDAQ:IVVD - Get Free Report) last released 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). The business had revenue of $11.79 million during the quarter, compared to the consensus estimate of $23.16 million. Invivyd had a negative net margin of 238.33% and a negative return on equity of 177.89%. As a group, research analysts predict that Invivyd will post -1.64 EPS for the current fiscal year.

Insider Activity

In other news, insider Jill Andersen sold 49,402 shares of the stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $0.57, for a total transaction of $28,159.14. Following the completion of the sale, the insider owned 84,446 shares of the company's stock, valued at $48,134.22. This represents a 36.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 277,654 shares of company stock worth $167,215 over the last ninety days. 25.40% of the stock is owned by corporate insiders.

Institutional Trading of Invivyd

Several hedge funds and other institutional investors have recently modified their holdings of IVVD. 683 Capital Management LLC grew its holdings in shares of Invivyd by 2.3% during the second quarter. 683 Capital Management LLC now owns 3,070,000 shares of the company's stock worth $2,195,000 after buying an additional 70,000 shares in the last quarter. Jane Street Group LLC acquired a new position in Invivyd during the 2nd quarter worth approximately $147,000. Marshall Wace LLP bought a new position in shares of Invivyd during the 2nd quarter worth approximately $158,000. Invesco Ltd. raised its holdings in shares of Invivyd by 25.5% in the second quarter. Invesco Ltd. now owns 136,755 shares of the company's stock valued at $98,000 after purchasing an additional 27,756 shares during the last quarter. Finally, Catalyst Funds Management Pty Ltd bought a new stake in shares of Invivyd in the second quarter worth $27,000. Institutional investors and hedge funds 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.

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