Invivyd (NASDAQ:IVVD) Shares Gap Up – Here’s Why

Invivyd, Inc. (NASDAQ:IVVD)’s share price gapped up prior to trading 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 trading hands.

Wall Street Analysts Forecast Growth

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

Invivyd Trading Up 44.7%

The stock has a fifty day moving average of $1.53 and a 200-day moving average of $1.04. The firm has a market capitalization of $597.26 million, a price-to-earnings ratio of -5.46 and a beta of 0.64.

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

Insiders Place Their Bets

In other Invivyd news, insider Jill Andersen sold 49,402 shares of the business’s stock in a transaction on 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 directly owned 84,446 shares of the company’s stock, valued at $48,134.22. The trade was a 36.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders have sold 277,654 shares of company stock worth $167,215. Insiders own 25.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in Invivyd by 46.7% during the third quarter. Vanguard Group Inc. now owns 5,762,894 shares of the company’s stock valued at $6,339,000 after buying an additional 1,834,970 shares during the period. 683 Capital Management LLC grew its stake in Invivyd by 2.3% during the 2nd quarter. 683 Capital Management LLC now owns 3,070,000 shares of the company’s stock valued at $2,195,000 after acquiring an additional 70,000 shares in the last quarter. GSA Capital Partners LLP increased its holdings in shares of Invivyd by 85.0% in the 3rd quarter. GSA Capital Partners LLP now owns 805,221 shares of the company’s stock valued at $886,000 after purchasing an additional 369,891 shares during the period. AQR Capital Management LLC lifted its position in shares of Invivyd by 2,051.0% in the first quarter. AQR Capital Management LLC now owns 410,711 shares of the company’s stock worth $249,000 after purchasing an additional 391,617 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Invivyd during the second quarter worth approximately $158,000. Hedge funds and other institutional investors own 70.36% of the company’s stock.

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.