Invivyd (NASDAQ:IVVD) Stock Price Down 1.8% – Here’s Why

Invivyd, Inc. (NASDAQ:IVVD) traded down 1.8% during trading on Tuesday . The company traded as low as $1.07 and last traded at $1.10. 2,082,668 shares traded hands during mid-day trading, a decline of 40% from the average session volume of 3,468,493 shares. The stock had previously closed at $1.12.

Analysts Set New Price Targets

A number of equities analysts have issued reports on IVVD shares. HC Wainwright reaffirmed a “buy” rating and set a $5.00 price objective on shares of Invivyd in a report on Wednesday, August 27th. D. Boral Capital dropped their price target on shares of Invivyd from $3.00 to $1.00 and set a “buy” rating on the stock in a research report on Monday, August 25th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. According to MarketBeat, Invivyd presently has an average rating of “Buy” and an average target price of $3.18.

Invivyd Price Performance

The firm has a market capitalization of $132.15 million, a PE ratio of -1.20 and a beta of 0.55. The company’s fifty day simple moving average is $0.94 and its 200 day simple moving average is $0.79.

Invivyd (NASDAQ:IVVD) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.08). The business had revenue of $11.79 million during the quarter, compared to the consensus estimate of $23.16 million. Invivyd had a negative net margin of 238.33% and a negative return on equity of 177.89%. On average, analysts anticipate that Invivyd, Inc. will post -1.64 earnings per share for the current fiscal year.

Insider Transactions at Invivyd

In other Invivyd news, insider Jill Andersen sold 49,402 shares of the stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $0.57, for a total transaction of $28,159.14. Following the sale, the insider owned 84,446 shares in the company, valued at $48,134.22. This represents a 36.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last quarter, insiders have sold 277,654 shares of company stock worth $167,215. Insiders own 25.40% of the company’s stock.

Institutional Trading of Invivyd

Hedge funds and other institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC lifted its stake in Invivyd by 2,051.0% in the 1st 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. Two Sigma Advisers LP raised its position in shares of Invivyd by 1,276.5% in the fourth quarter. Two Sigma Advisers LP now owns 304,200 shares of the company’s stock worth $135,000 after buying an additional 282,100 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Invivyd in the second quarter worth $158,000. Jane Street Group LLC bought a new stake in Invivyd during the second quarter valued at $147,000. Finally, Two Sigma Investments LP grew its position in Invivyd by 125.3% during the fourth quarter. Two Sigma Investments LP now owns 367,100 shares of the company’s stock worth $163,000 after buying an additional 204,188 shares in the last quarter. 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.