Invivyd (NASDAQ:IVVD) Posts Earnings Results, Misses Estimates By $0.01 EPS

Invivyd (NASDAQ:IVVD) announced its earnings results on Thursday. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01), Zacks reports. The firm had revenue of $13.13 million during the quarter, compared to analysts’ expectations of $12.00 million. Invivyd had a negative net margin of 119.63% and a negative return on equity of 92.97%.

Invivyd Stock Up 2.9%

Shares of NASDAQ:IVVD traded up $0.05 during trading on Friday, hitting $1.59. 2,846,911 shares of the company traded hands, compared to its average volume of 5,027,118. The business’s fifty day moving average is $1.48 and its 200-day moving average is $1.01. The stock has a market capitalization of $339.84 million, a price-to-earnings ratio of -3.37 and a beta of 0.64. Invivyd has a one year low of $0.35 and a one year high of $2.74.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on IVVD shares. Zacks Research lowered shares of Invivyd from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. Cantor Fitzgerald initiated coverage on Invivyd in a research report on Monday, October 6th. They set an “overweight” rating and a $10.00 target price on the stock. D. Boral Capital increased their price target on Invivyd from $1.00 to $2.00 and gave the company a “buy” rating in a report on Monday, October 6th. HC Wainwright raised their price objective on Invivyd from $5.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Invivyd in a research report on Friday, October 31st. Four research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $6.39.

Insider Activity

In related news, insider Jill Andersen sold 49,402 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $0.57, for a total transaction of $28,159.14. Following the completion of the transaction, the insider owned 84,446 shares in the company, valued at $48,134.22. The trade was a 36.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 277,654 shares of company stock valued at $167,215. Company insiders own 25.40% of the company’s stock.

Institutional Investors Weigh In On Invivyd

A number of hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. boosted its holdings in shares of Invivyd by 190.6% during the first quarter. Invesco Ltd. now owns 108,999 shares of the company’s stock valued at $66,000 after acquiring an additional 71,485 shares during the period. Jane Street Group LLC bought a new stake in Invivyd in the 2nd quarter valued at about $147,000. Marshall Wace LLP acquired a new position in Invivyd during the 2nd quarter valued at about $158,000. AQR Capital Management LLC boosted its stake in Invivyd by 2,051.0% during the 1st quarter. AQR Capital Management LLC now owns 410,711 shares of the company’s stock valued at $249,000 after purchasing an additional 391,617 shares during the period. Finally, Vanguard Group Inc. grew its position in Invivyd by 46.7% in the 3rd quarter. Vanguard Group Inc. now owns 5,762,894 shares of the company’s stock worth $6,339,000 after purchasing an additional 1,834,970 shares during the last quarter. 70.36% of the stock is currently owned by institutional investors.

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.