Jupiter Topco LLC bought a new position in shares of Invivyd, Inc. (NASDAQ:IVVD – Free Report) during the second quarter, Holdings Channel.com reports. The fund bought 34,173,104 shares of the company’s stock, valued at approximately $30,048,000. Jupiter Topco LLC owned about 0.12% of Invivyd at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of IVVD. ADAR1 Capital Management LLC acquired a new stake in Invivyd in the 2nd quarter worth $3,322,000. The Manufacturers Life Insurance Company bought a new position in shares of Invivyd during the 2nd quarter worth about $52,000. BlackRock Inc. acquired a new position in shares of Invivyd during the second quarter valued at about $14,076,000. Deutsche Bank AG acquired a new position in shares of Invivyd during the second quarter valued at about $688,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Invivyd in the second quarter valued at about $452,000. 70.36% of the stock is owned by institutional investors.
Invivyd Stock Performance
Shares of Invivyd stock opened at $0.96 on Friday. The firm’s 50-day simple moving average is $0.78 and its 200-day simple moving average is $1.19. Invivyd, Inc. has a twelve month low of $0.53 and a twelve month high of $3.07. The firm has a market cap of $284.30 million, a P/E ratio of -2.92 and a beta of 0.71.
Wall Street Analysts Forecast Growth
IVVD has been the topic of a number of recent research reports. BTIG Research reissued a “buy” rating on shares of Invivyd in a research report on Tuesday, July 7th. Wall Street Zen cut Invivyd from a “hold” rating to a “strong sell” rating in a report on Saturday, May 16th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Invivyd in a research report on Thursday. Weiss Ratings lowered Invivyd from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday. Finally, HC Wainwright restated a “buy” rating on shares of Invivyd in a research report on Tuesday, August 18th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Invivyd has a consensus rating of “Hold” and an average target price of $8.00.
Read Our Latest Stock Report on IVVD
Insiders Place Their Bets
In other news, insider Jill Andersen sold 30,706 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $0.84, for a total value of $25,793.04. Following the sale, the insider directly owned 283,774 shares in the company, valued at approximately $238,370.16. This represents a 9.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 228,024 shares of company stock worth $176,540 over the last 90 days. 12.25% of the stock is currently owned by insiders.
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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