Invivyd (NASDAQ:IVVD) Posts Earnings Results, Misses Expectations By $0.08 EPS

Key Points

• Invivyd reported a Q3 loss of ($0.12) EPS, missing analysts' expectations by ($0.08), with revenues of $11.79 million against an expected $23.16 million.
• Following the earnings announcement, Invivyd's stock traded down to $0.71, with a market capitalization of $84.82 million and negative performance indicators.
• Analysts have set new price targets for the stock, with D. Boral Capital lowering its target from $9.00 to $3.00 while HC Wainwright maintains a target of $5.00.

Invivyd (NASDAQ:IVVD - Get Free Report) posted its quarterly earnings data on Thursday. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.08), Zacks reports. The firm had revenue of $11.79 million for the quarter, compared to analysts' expectations of $23.16 million. Invivyd had a negative net margin of 238.33% and a negative return on equity of 161.29%.

Invivyd Price Performance

Shares of NASDAQ:IVVD traded down $0.09 during midday trading on Friday, reaching $0.71. The company had a trading volume of 1,414,178 shares, compared to its average volume of 717,987. The stock's fifty day moving average price is $0.76 and its 200-day moving average price is $0.83. The stock has a market capitalization of $84.82 million, a P/E ratio of -0.77 and a beta of 0.51. Invivyd has a one year low of $0.35 and a one year high of $2.74.

Analysts Set New Price Targets

A number of research firms have recently issued reports on IVVD. D. Boral Capital dropped their price objective on shares of Invivyd from $9.00 to $3.00 and set a "buy" rating on the stock in a research note on Friday. HC Wainwright reiterated a "buy" rating and set a $5.00 price objective on shares of Invivyd in a research note on Thursday, June 26th.

Institutional Trading of Invivyd

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Invesco Ltd. increased its stake in shares of Invivyd by 190.6% in the first quarter. Invesco Ltd. now owns 108,999 shares of the company's stock worth $66,000 after buying an additional 71,485 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Invivyd during the second quarter valued at $147,000. Marshall Wace LLP acquired a new position in shares of Invivyd during the second quarter valued at $158,000. Finally, AQR Capital Management LLC boosted its holdings in shares of Invivyd by 2,051.0% during the first quarter. AQR Capital Management LLC now owns 410,711 shares of the company's stock valued at $249,000 after acquiring an additional 391,617 shares during the period. Institutional investors 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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