Invivyd (NASDAQ:IVVD) Shares Gap Up – Still a Buy?

Invivyd, Inc. (NASDAQ:IVVD)’s share price gapped up before the market opened on Friday . The stock had previously closed at $1.77, but opened at $2.56. Invivyd shares last traded at $2.6720, with a volume of 92,210,119 shares.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Invivyd in a research note on Friday, October 31st. Cantor Fitzgerald assumed coverage on shares of Invivyd in a report on Monday, October 6th. They issued an “overweight” rating and a $10.00 price objective on the stock. HC Wainwright upped their price objective on shares of Invivyd from $5.00 to $10.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Zacks Research lowered Invivyd from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 15th. Finally, D. Boral Capital boosted their price target on Invivyd from $1.00 to $2.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. Four research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $6.39.

Invivyd Stock Performance

The company has a market cap of $597.26 million, a P/E ratio of -5.46 and a beta of 0.64. The business has a fifty day simple moving average of $1.53 and a 200 day simple moving average of $1.04.

Invivyd (NASDAQ:IVVD) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The firm had revenue of $13.13 million for the quarter, compared to analyst estimates of $12.00 million. Invivyd had a negative net margin of 119.63% and a negative return on equity of 92.97%. Equities research analysts expect that Invivyd, Inc. will post -1.64 EPS for the current year.

Insider Buying and Selling at Invivyd

In related news, insider Jill Andersen sold 49,402 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $0.57, for a total transaction of $28,159.14. Following the sale, the insider owned 84,446 shares in the company, valued at $48,134.22. This represents a 36.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders have sold 277,654 shares of company stock worth $167,215. 25.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Invivyd

Hedge funds have recently made changes to their positions in the business. Invesco Ltd. grew its holdings in Invivyd by 25.5% in the 2nd quarter. Invesco Ltd. now owns 136,755 shares of the company’s stock worth $98,000 after buying an additional 27,756 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in Invivyd by 238.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 39,941 shares of the company’s stock worth $29,000 after acquiring an additional 28,146 shares during the period. Catalyst Funds Management Pty Ltd bought a new position in shares of Invivyd in the second quarter worth $27,000. 683 Capital Management LLC grew its stake in shares of Invivyd by 2.3% in the second quarter. 683 Capital Management LLC now owns 3,070,000 shares of the company’s stock worth $2,195,000 after purchasing an additional 70,000 shares in the last quarter. Finally, Squarepoint Ops LLC increased its holdings in shares of Invivyd by 188.9% during the third quarter. Squarepoint Ops LLC now owns 107,831 shares of the company’s stock valued at $119,000 after purchasing an additional 70,508 shares during the period. Institutional investors own 70.36% of the company’s stock.

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.