William Duke Sells 18,425 Shares of Invivyd (NASDAQ:IVVD) Stock

Invivyd, Inc. (NASDAQ:IVVD) CFO William Duke sold 18,425 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $0.84, for a total transaction of $15,477.00. Following the completion of the transaction, the chief financial officer owned 168,937 shares of the company’s stock, valued at $141,907.08. This trade represents a 9.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Invivyd Stock Up 10.3%

Shares of NASDAQ:IVVD opened at $0.96 on Thursday. Invivyd, Inc. has a 12 month low of $0.48 and a 12 month high of $3.07. The company’s fifty day simple moving average is $0.77 and its 200 day simple moving average is $1.23. The firm has a market cap of $282.82 million, a price-to-earnings ratio of -2.91 and a beta of 0.71.

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

Institutional Investors Weigh In On Invivyd

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IVVD. Chicago Partners Investment Group LLC bought a new stake in Invivyd during the 1st quarter worth about $25,000. Courier Capital LLC acquired a new stake in shares of Invivyd in the fourth quarter valued at about $25,000. Bronte Capital Management Pty Ltd. bought a new stake in Invivyd during the fourth quarter worth about $27,000. DRW Securities LLC bought a new stake in Invivyd during the fourth quarter worth about $27,000. Finally, ProShare Advisors LLC acquired a new position in Invivyd during the fourth quarter valued at approximately $30,000. 70.36% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Invivyd

Here are the key news stories impacting Invivyd this week:

• Positive Sentiment: Several research firms maintain Buy ratings on Invivyd, and the stock’s average analyst price target remains substantially above its current trading range. Institutional ownership is also significant, with investors holding about 70% of the outstanding shares. MarketBeat Invivyd analyst and institutional data
• Neutral Sentiment: Robert Allen III, Jill Andersen, CFO William E. Duke, Julie Green, and Timothy Edward Lee each sold Invivyd shares on August 17 or 18 at approximately $0.72 or $0.84. The transactions reduced their individual holdings by roughly 9% to 11%. SEC insider transaction filing
• Neutral Sentiment: The filings indicate that the sales were made to cover tax-withholding obligations associated with vested equity awards. That makes them less bearish than discretionary open-market sales intended to reduce exposure.
• Negative Sentiment: The unusually broad participation by multiple insiders could still create a short-term sentiment overhang, particularly for Invivyd’s relatively small market capitalization. Investors also continue to face fundamental risks: the company recently missed quarterly earnings expectations, reported a net loss, and remains dependent on the development and commercialization of its antibody-based infectious-disease pipeline.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on IVVD. BTIG Research restated a “buy” rating on shares of Invivyd in a report on Tuesday, July 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Invivyd in a report on Friday, July 24th. Wall Street Zen lowered Invivyd from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 16th. Finally, HC Wainwright restated a “buy” rating on shares of Invivyd in a research note on Tuesday. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price 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.