Orbimed Advisors LLC Decreases Stock Position in Invivyd, Inc. (NASDAQ:IVVD)

Orbimed Advisors LLC lessened its stake in Invivyd, Inc. (NASDAQ:IVVD - Free Report) by 33.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,149,300 shares of the company's stock after selling 579,000 shares during the period. Orbimed Advisors LLC owned about 0.96% of Invivyd worth $509,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Barclays PLC increased its stake in Invivyd by 7.8% in the 4th quarter. Barclays PLC now owns 127,180 shares of the company's stock worth $56,000 after purchasing an additional 9,207 shares during the period. Jane Street Group LLC increased its stake in shares of Invivyd by 290.5% in the fourth quarter. Jane Street Group LLC now owns 117,432 shares of the company's stock worth $52,000 after buying an additional 87,358 shares during the period. Renaissance Technologies LLC bought a new stake in Invivyd during the 4th quarter valued at $74,000. JPMorgan Chase & Co. raised its holdings in Invivyd by 644.1% during the 4th quarter. JPMorgan Chase & Co. now owns 256,900 shares of the company's stock valued at $114,000 after buying an additional 222,375 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in Invivyd by 35.2% during the 4th quarter. Deutsche Bank AG now owns 874,406 shares of the company's stock valued at $385,000 after buying an additional 227,463 shares during the period. 70.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on IVVD. HC Wainwright reaffirmed a "buy" rating and set a $10.00 price objective on shares of Invivyd in a research note on Wednesday, March 26th. D. Boral Capital restated a "buy" rating and set a $9.00 price target on shares of Invivyd in a report on Thursday, March 20th.

Invivyd Trading Up 29.7%

Shares of Invivyd stock opened at $0.84 on Tuesday. Invivyd, Inc. has a 12-month low of $0.35 and a 12-month high of $2.74. The company has a market cap of $100.50 million, a P/E ratio of -0.43 and a beta of 0.40. The company's fifty day simple moving average is $0.64 and its two-hundred day simple moving average is $0.75.

Invivyd (NASDAQ:IVVD - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.10. The company had revenue of $13.80 million for the quarter, compared to analysts' expectations of $13.57 million. Analysts predict that Invivyd, Inc. will post -1.64 EPS for the current fiscal year.

Invivyd 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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