683 Capital Management LLC Decreases Stock Holdings in Invivyd, Inc. $IVVD

683 Capital Management LLC decreased its holdings in shares of Invivyd, Inc. (NASDAQ:IVVD) by 54.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,900,000 shares of the company’s stock after selling 3,400,000 shares during the period. 683 Capital Management LLC’s holdings in Invivyd were worth $7,163,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. RA Capital Management L.P. purchased a new position in shares of Invivyd during the 3rd quarter valued at approximately $18,831,000. ADAR1 Capital Management LLC purchased a new position in Invivyd in the 3rd quarter valued at $8,108,000. Eventide Asset Management LLC purchased a new position in Invivyd in the 4th quarter valued at $14,349,000. Vanguard Group Inc. lifted its holdings in Invivyd by 46.7% in the 3rd quarter. Vanguard Group Inc. now owns 5,762,894 shares of the company’s stock valued at $6,339,000 after purchasing an additional 1,834,970 shares in the last quarter. Finally, State Street Corp lifted its holdings in Invivyd by 1,636.7% in the 4th quarter. State Street Corp now owns 5,637,593 shares of the company’s stock valued at $13,925,000 after purchasing an additional 5,312,986 shares in the last quarter. Hedge funds and other institutional investors own 70.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. BTIG Research restated a “buy” rating and issued a $10.00 price objective on shares of Invivyd in a report on Tuesday, June 9th. Wall Street Zen lowered Invivyd from a “hold” rating to a “strong sell” rating in a report on Saturday, May 16th. HC Wainwright restated a “buy” rating and issued a $10.00 price objective on shares of Invivyd in a report on Monday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Invivyd in a report on Wednesday, April 29th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $8.00.

Invivyd Stock Up 4.4%

Shares of IVVD opened at $0.93 on Thursday. Invivyd, Inc. has a 52-week low of $0.48 and a 52-week high of $3.07. The company has a market capitalization of $274.34 million, a PE ratio of -3.00 and a beta of 0.63. The stock has a fifty day simple moving average of $1.29 and a two-hundred day simple moving average of $1.74.

Invivyd (NASDAQ:IVVD) last issued its 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 company had revenue of $13.74 million during the quarter, compared to analyst estimates of $18.04 million. As a group, equities analysts anticipate that Invivyd, Inc. will post -0.5 earnings per share for the current fiscal year.

Invivyd 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.