Invivyd’s (IVVD) Buy Rating Reiterated at BTIG Research

BTIG Research reaffirmed their buy rating on shares of Invivyd (NASDAQ:IVVD) in a research report released on Thursday,Benzinga reports. BTIG Research currently has a $10.00 target price on the stock.

A number of other research firms have also issued reports on IVVD. Weiss Ratings reiterated a “sell (e+)” rating on shares of Invivyd in a report on Monday, December 29th. HC Wainwright increased their price objective on Invivyd from $5.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Zacks Research raised Invivyd from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 13th. Finally, D. Boral Capital reaffirmed a “hold” rating on shares of Invivyd in a research report on Tuesday, November 25th. 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 company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $8.00.

Invivyd Price Performance

Invivyd stock opened at $1.69 on Thursday. The firm has a 50 day simple moving average of $2.09 and a 200-day simple moving average of $1.80. The stock has a market cap of $393.97 million, a price-to-earnings ratio of -3.60 and a beta of 0.60. Invivyd has a 1-year low of $0.46 and a 1-year high of $3.07.

Insider Buying and Selling

In other Invivyd news, insider Timothy Edward Lee sold 20,964 shares of Invivyd stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $1.58, for a total transaction of $33,123.12. Following the completion of the sale, the insider directly owned 117,717 shares of the company’s stock, valued at $185,992.86. The trade was a 15.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Robert D. Allen III sold 19,392 shares of the company’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $1.58, for a total value of $30,639.36. Following the transaction, the insider directly owned 114,487 shares of the company’s stock, valued at approximately $180,889.46. This represents a 14.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 227,172 shares of company stock valued at $354,534 over the last 90 days. 25.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Invivyd

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IVVD. Invesco Ltd. raised its holdings in Invivyd by 190.6% during the first quarter. Invesco Ltd. now owns 108,999 shares of the company’s stock worth $66,000 after purchasing an additional 71,485 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Invivyd by 2,051.0% in the 1st quarter. AQR Capital Management LLC now owns 410,711 shares of the company’s stock valued at $249,000 after buying an additional 391,617 shares during the last quarter. Catalyst Funds Management Pty Ltd acquired a new stake in Invivyd during the 2nd quarter worth $27,000. Marshall Wace LLP purchased a new stake in Invivyd in the second quarter valued at $158,000. Finally, Jane Street Group LLC purchased a new stake in Invivyd in the second quarter valued at $147,000. 70.36% of the stock is owned by institutional investors and hedge funds.

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.