Invivyd (NASDAQ:IVVD) Stock Price Up 7.1% - Here's What Happened

Invivyd, Inc. (NASDAQ:IVVD - Get Free Report)'s stock price traded up 7.1% on Thursday . The company traded as high as $0.5902 and last traded at $0.5816. 3,050,430 shares were traded during mid-day trading, a decline of 6% from the average session volume of 3,239,798 shares. The stock had previously closed at $0.5430.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on IVVD shares. Weiss Ratings restated a "sell (d-)" rating on shares of Invivyd in a research report on Friday, July 24th. Wall Street Zen downgraded Invivyd from a "hold" rating to a "strong sell" rating in a research report on Saturday, May 16th. BTIG Research reiterated a "buy" rating on shares of Invivyd in a research note on Tuesday, July 7th. Finally, HC Wainwright reissued a "buy" rating and issued a $10.00 price objective on shares of Invivyd in a report on Monday, June 15th. Three equities research 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. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $8.00.

Invivyd Price Performance

The business's fifty day simple moving average is $0.88 and its two-hundred day simple moving average is $1.38. The company has a market cap of $171.35 million, a PE ratio of -1.88 and a beta of 0.67.

Invivyd (NASDAQ:IVVD - Get Free Report) last posted its earnings results on Thursday, May 14th. The company reported ($0.13) EPS for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.05). Invivyd had a negative net margin of 138.90% and a negative return on equity of 53.48%. The business had revenue of $13.74 million for the quarter, compared to analyst estimates of $18.04 million. As a group, analysts predict that Invivyd, Inc. will post -0.5 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Janus Henderson Group PLC increased its stake in shares of Invivyd by 1.7% during the first quarter. Janus Henderson Group PLC now owns 33,094,330 shares of the company's stock worth $42,857,000 after purchasing an additional 551,188 shares in the last quarter. Perceptive Advisors LLC purchased a new position in Invivyd in the 4th quarter valued at about $53,809,000. BVF Inc. IL purchased a new position in Invivyd in the 4th quarter valued at about $48,227,000. RA Capital Management L.P. acquired a new stake in Invivyd in the 3rd quarter worth about $18,831,000. Finally, ADAR1 Capital Management LLC acquired a new stake in Invivyd in the 3rd quarter worth about $8,108,000. Hedge funds and other institutional investors own 70.36% of the company's stock.

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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