Invivyd (NASDAQ:IVVD) Earns Buy Rating from HC Wainwright

Invivyd (NASDAQ:IVVD)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a note issued to investors on Monday,Benzinga reports. They currently have a $10.00 price objective on the stock.

A number of other brokerages also recently issued reports on IVVD. Wall Street Zen downgraded Invivyd from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Invivyd in a research report on Wednesday, April 29th. Finally, BTIG Research restated a “buy” rating and issued a $10.00 target price on shares of Invivyd in a research note on Tuesday, June 9th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $8.00.

Invivyd Stock Performance

Shares of NASDAQ:IVVD opened at $0.77 on Monday. The company has a 50 day moving average of $1.32 and a 200 day moving average of $1.77. The stock has a market cap of $226.85 million, a P/E ratio of -2.48 and a beta of 0.63. Invivyd has a 12 month low of $0.48 and a 12 month high of $3.07.

Invivyd (NASDAQ:IVVD) last posted its earnings results on Thursday, May 14th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.05). Invivyd had a negative return on equity of 53.48% and a negative net margin of 138.90%.The firm had revenue of $13.74 million during the quarter, compared to analysts’ expectations of $18.04 million. On average, equities analysts forecast that Invivyd will post -0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Invivyd

Institutional investors have recently made changes to their positions in the stock. OMERS ADMINISTRATION Corp raised its position in shares of Invivyd by 9.0% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 106,900 shares of the company’s stock valued at $139,000 after buying an additional 8,800 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Invivyd by 54.3% in the first quarter. Bank of New York Mellon Corp now owns 27,184 shares of the company’s stock valued at $35,000 after acquiring an additional 9,568 shares during the last quarter. Courier Capital LLC bought a new position in Invivyd in the fourth quarter valued at $25,000. Bronte Capital Management Pty Ltd. purchased a new stake in Invivyd during the fourth quarter valued at about $27,000. Finally, DRW Securities LLC purchased a new stake in Invivyd during the fourth quarter valued at about $27,000. 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. 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.