Eventide Asset Management LLC Takes $14.35 Million Position in Invivyd, Inc. $IVVD

Eventide Asset Management LLC bought a new stake in Invivyd, Inc. (NASDAQ:IVVD) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 5,809,256 shares of the company’s stock, valued at approximately $14,349,000. Eventide Asset Management LLC owned about 2.49% of Invivyd as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Hudson Bay Capital Management LP purchased a new stake in shares of Invivyd in the fourth quarter valued at about $215,000. Rafferty Asset Management LLC purchased a new stake in shares of Invivyd in the fourth quarter valued at about $703,000. Charles Schwab Investment Management Inc. acquired a new position in shares of Invivyd during the fourth quarter worth about $291,000. Siren L.L.C. acquired a new position in shares of Invivyd during the fourth quarter worth about $9,880,000. Finally, State Street Corp increased its stake in shares of 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 acquiring an additional 5,312,986 shares during the period. 70.36% of the stock is owned by hedge funds and other institutional investors.

Invivyd Price Performance

Shares of Invivyd stock opened at $0.77 on Monday. Invivyd, Inc. has a 52-week low of $0.48 and a 52-week high of $3.07. The company’s 50-day simple moving average is $1.32 and its 200-day simple moving average is $1.77. The firm has a market cap of $226.85 million, a price-to-earnings ratio of -2.48 and a beta of 0.63.

Invivyd (NASDAQ:IVVD) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $18.04 million. Equities research analysts anticipate that Invivyd, Inc. will post -0.5 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IVVD. BTIG Research reiterated a “buy” rating and set a $10.00 price target on shares of Invivyd in a research note on Tuesday, June 9th. HC Wainwright reiterated a “buy” rating on shares of Invivyd in a research note on Thursday, May 14th. Wall Street Zen lowered shares of Invivyd from a “hold” rating to a “strong sell” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Invivyd in a research note on Wednesday, April 29th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $8.00.

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.