Timothy Edward Lee Sells 22,355 Shares of Invivyd (NASDAQ:IVVD) Stock

Key Points

• Invivyd insider Timothy Edward Lee sold 22,355 shares at an average of $0.72, worth $16,095.60, reducing his holdings by 10.17%. He also recently sold 18,425 shares at $0.84; the transactions were reportedly made to cover tax obligations from vested equity awards.
• Invivyd shares rose to $0.87 in mid-day trading, but the stock remains well below its 52-week high of $3.07. The company reported a quarterly loss of $0.14 per share, missing analyst expectations, and analysts expect a full-year loss of $0.52 per share.
• Institutional investors own 70.36% of Invivyd, with several hedge funds initiating positions during the second quarter. Analyst sentiment is mixed, resulting in a consensus “Hold” rating and an $8.00 price target.

Invivyd, Inc. (NASDAQ:IVVD - Get Free Report) insider Timothy Edward Lee sold 22,355 shares of Invivyd stock in a transaction on Monday, August 17th. The stock was sold at an average price of $0.72, for a total value of $16,095.60. Following the transaction, the insider owned 197,362 shares in the company, valued at approximately $142,100.64. This represents a 10.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Timothy Edward Lee also recently made the following trade(s):

• On Tuesday, August 18th, Timothy Edward Lee sold 18,425 shares of Invivyd stock. The shares were sold at an average price of $0.84, for a total transaction of $15,477.00.

Invivyd Price Performance

Shares of IVVD traded up $0.13 during mid-day trading on Tuesday, reaching $0.87. The stock had a trading volume of 7,732,095 shares, compared to its average volume of 3,061,089. Invivyd, Inc. has a 52-week low of $0.48 and a 52-week high of $3.07. The firm has a market cap of $255.75 million, a price-to-earnings ratio of -2.63 and a beta of 0.71. The business's fifty day moving average is $0.77 and its 200 day moving average is $1.23.

Invivyd (NASDAQ:IVVD - Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.03). Invivyd had a negative return on equity of 59.73% and a negative net margin of 183.90%.The firm had revenue of $14.29 million for the quarter, compared to analysts' expectations of $14.40 million. As a group, sell-side analysts anticipate that Invivyd, Inc. will post -0.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Invivyd

A number of hedge funds have recently made changes to their positions in the stock. United Capital Financial Advisors LLC acquired a new stake in Invivyd in the 2nd quarter valued at approximately $84,000. Bank of America Corp DE acquired a new position in Invivyd during the second quarter worth $311,000. Jupiter Topco LLC purchased a new position in shares of Invivyd during the second quarter worth $30,048,000. ADAR1 Capital Management LLC purchased a new position in shares of Invivyd during the second quarter worth $3,322,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Invivyd in the second quarter valued at $52,000. Hedge funds and other institutional investors own 70.36% of the company's stock.

Key Stories Impacting Invivyd

Here are the key news stories impacting Invivyd this week:

• Neutral Sentiment: Robert D. Allen III, Jill Andersen, CFO William E. Duke, Julie Green, and Timothy Edward Lee each sold shares at prices of approximately $0.72 or $0.84. The sales reduced each insider’s direct holdings by roughly 9% to 11%. SEC insider transaction filing
• Neutral Sentiment: The filings state that the transactions were made to cover tax-withholding obligations tied to the vesting of equity awards. Because the sales were not described as discretionary reductions or based on a negative outlook, they are less concerning than open-market sales intended to exit positions. SEC insider transaction filing
• Negative Sentiment: The concentration of sales by multiple insiders may nevertheless create a modest overhang for Invivyd stock, particularly given the company’s small market capitalization and recent elevated trading volume. However, the disclosed tax-related purpose limits the bearish signal.

Analysts Set New Price Targets

Several brokerages recently weighed in on IVVD. Weiss Ratings reiterated 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 reaffirmed a "buy" rating on shares of Invivyd in a research note on Tuesday, July 7th. Finally, HC Wainwright reiterated a "buy" rating on shares of Invivyd in a report on Tuesday. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $8.00.

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. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source