Invivyd (NASDAQ:IVVD) CFO William Duke Sells 22,355 Shares of Stock

Invivyd, Inc. (NASDAQ:IVVD) CFO William Duke sold 22,355 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief financial officer owned 187,362 shares in the company, valued at approximately $134,900.64. The trade was a 10.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Invivyd Trading Up 17.2%

NASDAQ IVVD opened at $0.87 on Wednesday. The company has a market cap of $255.75 million, a P/E ratio of -2.63 and a beta of 0.71. The company has a fifty day simple moving average of $0.77 and a 200 day simple moving average of $1.23. Invivyd, Inc. has a 12-month low of $0.48 and a 12-month high of $3.07.

Invivyd (NASDAQ:IVVD) last posted its earnings results on Thursday, August 13th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.03). The business had revenue of $14.29 million for the quarter, compared to the consensus estimate of $14.40 million. Invivyd had a negative return on equity of 59.73% and a negative net margin of 183.90%. Sell-side analysts predict that Invivyd, Inc. will post -0.52 EPS for the current year.

Institutional Investors Weigh In On Invivyd

A number of institutional investors have recently made changes to their positions in the business. OMERS ADMINISTRATION Corp boosted its position in Invivyd by 9.0% during the first quarter. OMERS ADMINISTRATION Corp now owns 106,900 shares of the company’s stock valued at $139,000 after buying an additional 8,800 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Invivyd by 54.3% during the first quarter. Bank of New York Mellon Corp now owns 27,184 shares of the company’s stock valued at $35,000 after acquiring an additional 9,568 shares in the last quarter. Courier Capital LLC bought a new position in Invivyd in the 4th quarter worth $25,000. Bronte Capital Management Pty Ltd. purchased a new stake in Invivyd in the fourth quarter worth about $27,000. Finally, DRW Securities LLC bought a new position in shares of Invivyd in the 4th quarter worth approximately $27,000. Hedge funds and other institutional investors own 70.36% of the company’s stock.

Wall Street Analysts Forecast Growth

IVVD has been the subject of several recent analyst reports. Wall Street Zen lowered Invivyd from a “hold” rating to a “strong sell” rating in a report on Saturday, May 16th. BTIG Research reissued a “buy” rating on shares of Invivyd in a research report on Tuesday, July 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Invivyd in a report on Friday, July 24th. Finally, HC Wainwright reiterated a “buy” rating on shares of Invivyd in a research note on Tuesday. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $8.00.

Trending Headlines about 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.

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.