HC Wainwright Weighs in on Invivyd, Inc.’s Q1 2024 Earnings (NASDAQ:IVVD)

Invivyd, Inc. (NASDAQ:IVVD) – Investment analysts at HC Wainwright cut their Q1 2024 EPS estimates for shares of Invivyd in a report issued on Monday, April 8th. HC Wainwright analyst P. Trucchio now anticipates that the company will post earnings of ($0.44) per share for the quarter, down from their previous estimate of ($0.39). HC Wainwright has a “Buy” rating and a $15.00 price target on the stock. The consensus estimate for Invivyd’s current full-year earnings is ($0.74) per share. HC Wainwright also issued estimates for Invivyd’s Q3 2024 earnings at ($0.37) EPS, Q4 2024 earnings at $0.05 EPS, FY2024 earnings at ($1.16) EPS, Q1 2025 earnings at $0.05 EPS, Q2 2025 earnings at ($0.45) EPS, Q3 2025 earnings at ($0.49) EPS, Q4 2025 earnings at ($0.05) EPS, FY2025 earnings at ($0.93) EPS, FY2026 earnings at ($0.13) EPS, FY2027 earnings at $0.41 EPS and FY2028 earnings at $1.09 EPS.

IVVD has been the topic of several other reports. Guggenheim raised shares of Invivyd from a “neutral” rating to a “buy” rating and set a $9.00 price objective on the stock in a research report on Friday, April 5th. Morgan Stanley raised shares of Invivyd from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $4.00 to $10.00 in a research report on Tuesday, March 26th.

Invivyd Trading Down 3.4 %

IVVD opened at $2.95 on Thursday. The stock has a market capitalization of $351.70 million, a P/E ratio of -1.63 and a beta of 0.63. Invivyd has a 12 month low of $0.98 and a 12 month high of $5.20. The firm’s fifty day simple moving average is $3.90 and its 200 day simple moving average is $3.02.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. FMR LLC acquired a new position in Invivyd in the 1st quarter valued at about $16,739,000. BlackRock Inc. acquired a new position in Invivyd in the 1st quarter valued at about $4,527,000. Geode Capital Management LLC acquired a new position in Invivyd in the 1st quarter valued at about $1,245,000. Charles Schwab Investment Management Inc. acquired a new position in Invivyd in the 1st quarter valued at about $476,000. Finally, JPMorgan Chase & Co. acquired a new position in Invivyd in the 1st quarter valued at about $391,000. 70.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Invivyd

In other news, major shareholder Adimab, Llc sold 5,000,000 shares of the business’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $3.95, for a total transaction of $19,750,000.00. Following the transaction, the insider now directly owns 21,687,906 shares in the company, valued at approximately $85,667,228.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 19.10% of the stock is owned by company insiders.

About Invivyd

Invivyd, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of antibody-based solutions for infectious diseases in the United States. The company's lead product candidate is adintrevimab, a neutralizing antibody that is in Phase 3 clinical trials for the treatment and prevention of coronavirus disease, as well as developing monoclonal antibody candidates, including VYD222 and VYD224, which provides neutralizing protection against SARS-CoV-2.