Invivyd (NASDAQ:IVVD – Get Free Report) announced its quarterly earnings results on Thursday. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.01, FiscalAI reports. Invivyd had a negative return on equity of 53.48% and a negative net margin of 138.90%.The company had revenue of $14.29 million during the quarter, compared to analysts’ expectations of $14.40 million.
Invivyd Stock Performance
Shares of NASDAQ:IVVD traded down $0.05 during midday trading on Thursday, reaching $0.69. 1,975,083 shares of the company’s stock traded hands, compared to its average volume of 3,107,846. The company has a fifty day simple moving average of $0.79 and a two-hundred day simple moving average of $1.26. Invivyd has a 1 year low of $0.48 and a 1 year high of $3.07. The company has a market cap of $202.01 million, a P/E ratio of -2.21 and a beta of 0.71.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on IVVD shares. BTIG Research reaffirmed a “buy” rating on shares of Invivyd in a report on Tuesday, July 7th. 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 research report on Friday, July 24th. Finally, HC Wainwright reissued a “buy” rating and set a $10.00 target price on shares of Invivyd in a research note on Monday, June 15th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Invivyd has a consensus rating of “Hold” and a consensus target price of $8.00.
Hedge Funds Weigh In On Invivyd
Large investors have recently added to or reduced their stakes in the stock. Mangrove Partners IM LLC purchased a new position in Invivyd in the 4th quarter valued at about $104,000. Bridgeway Capital Management LLC purchased a new stake in Invivyd during the 3rd quarter worth approximately $109,000. Squarepoint Ops LLC increased its stake in Invivyd by 188.9% during the 3rd quarter. Squarepoint Ops LLC now owns 107,831 shares of the company’s stock worth $119,000 after buying an additional 70,508 shares in the last quarter. Jefferies Financial Group Inc. acquired a new position in shares of Invivyd during the third quarter valued at approximately $102,000. Finally, Jane Street Group LLC acquired a new position in shares of Invivyd during the second quarter valued at approximately $147,000. 70.36% of the stock is currently owned by institutional investors and hedge funds.
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.
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