Invivyd (NASDAQ:IVVD) Announces Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Invivyd (NASDAQ:IVVD) posted its quarterly earnings data on Thursday. The company reported ($0.14) EPS for the quarter, topping 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 analyst estimates of $14.40 million.

Invivyd Trading Down 6.3%

NASDAQ IVVD traded down $0.05 during trading hours on Thursday, reaching $0.69. The company had a trading volume of 1,975,083 shares, compared to its average volume of 3,107,846. The stock has a market capitalization of $202.01 million, a P/E ratio of -2.21 and a beta of 0.71. The stock has a 50-day moving average of $0.79 and a 200 day moving average of $1.26. Invivyd has a 1-year low of $0.48 and a 1-year high of $3.07.

Hedge Funds Weigh In On Invivyd

Hedge funds have recently made changes to their positions in the stock. RA Capital Management L.P. purchased a new position in shares of Invivyd during the third quarter worth $18,831,000. ADAR1 Capital Management LLC purchased a new position in Invivyd during the 3rd quarter valued at about $8,108,000. Janus Henderson Group PLC grew its position in Invivyd by 28.2% in the 4th quarter. Janus Henderson Group PLC now owns 32,543,142 shares of the company’s stock valued at $80,870,000 after acquiring an additional 7,160,065 shares in the last quarter. State Street Corp increased its stake in Invivyd by 1,636.7% during the fourth quarter. State Street Corp now owns 5,637,593 shares of the company’s stock worth $13,925,000 after purchasing an additional 5,312,986 shares during the period. Finally, Siren L.L.C. acquired a new stake in shares of Invivyd during the fourth quarter worth about $9,880,000. Hedge funds and other institutional investors own 70.36% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on IVVD shares. HC Wainwright restated a “buy” rating and issued a $10.00 target price on shares of Invivyd in a research report on Monday, June 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Invivyd in a research note on Friday, July 24th. Wall Street Zen cut shares of Invivyd from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 16th. Finally, BTIG Research reaffirmed a “buy” rating on shares of Invivyd in a research note on Tuesday, July 7th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Invivyd currently has an average rating of “Hold” and a consensus price target of $8.00.

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.