Invivyd (NASDAQ:IVVD) Given “Buy” Rating at BTIG Research

Invivyd (NASDAQ:IVVD)‘s stock had its “buy” rating restated by equities research analysts at BTIG Research in a research report issued on Tuesday,Benzinga reports. They currently have a $10.00 price objective on the stock.

Several other analysts have also issued reports on the stock. Wall Street Zen lowered shares of Invivyd from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Invivyd in a report on Wednesday, April 29th. Finally, HC Wainwright reiterated a “buy” rating on shares of Invivyd in a report on Thursday, May 14th. Three 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’s stock. According to data from MarketBeat.com, Invivyd presently has a consensus rating of “Hold” and an average price target of $8.00.

Invivyd Price Performance

NASDAQ IVVD traded down $0.03 on Tuesday, hitting $1.00. 3,603,589 shares of the stock were exchanged, compared to its average volume of 2,989,217. The business’s fifty day moving average is $1.35 and its 200 day moving average is $1.81. Invivyd has a 52 week low of $0.48 and a 52 week high of $3.07. The company has a market capitalization of $293.13 million, a PE ratio of -3.19 and a beta of 0.63.

Invivyd (NASDAQ:IVVD) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.05). Invivyd had a negative return on equity of 53.48% and a negative net margin of 138.90%.The firm had revenue of $13.74 million for the quarter, compared to the consensus estimate of $18.04 million. Analysts predict that Invivyd will post -0.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Invivyd

Several institutional investors and hedge funds have recently modified their holdings of the stock. Bank of America Corp DE increased its holdings in shares of Invivyd by 152.9% in the first quarter. Bank of America Corp DE now owns 962,386 shares of the company’s stock valued at $1,251,000 after purchasing an additional 581,782 shares during the last quarter. Stempoint Capital LP increased its position in Invivyd by 89.4% during the first quarter. Stempoint Capital LP now owns 1,874,546 shares of the company’s stock worth $2,437,000 after acquiring an additional 884,724 shares during the period. Janus Henderson Group PLC increased its position in 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 acquiring an additional 551,188 shares during the period. Eversept Partners LP increased its position in Invivyd by 6.4% during the first quarter. Eversept Partners LP now owns 2,276,349 shares of the company’s stock worth $2,959,000 after acquiring an additional 136,219 shares during the period. Finally, SummitTX Capital L.P. bought a new position in Invivyd during the first quarter worth about $37,000. 70.36% of the stock is currently owned by institutional investors and hedge funds.

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.