Invivyd, Inc. (NASDAQ:IVVD) Sees Large Decline in Short Interest

Invivyd, Inc. (NASDAQ:IVVD) was the recipient of a significant decline in short interest during the month of March. As of March 15th, there was short interest totalling 6,660,000 shares, a decline of 28.8% from the February 28th total of 9,360,000 shares. Currently, 8.8% of the shares of the stock are short sold. Based on an average trading volume of 14,530,000 shares, the short-interest ratio is currently 0.5 days.

Analyst Ratings Changes

Several equities analysts have commented on IVVD shares. D. Boral Capital reiterated a “buy” rating and issued a $9.00 target price on shares of Invivyd in a research report on Thursday, March 20th. HC Wainwright reiterated a “buy” rating and set a $10.00 target price on shares of Invivyd in a research report on Wednesday. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $7.89.

Invivyd Price Performance

Shares of Invivyd stock traded down $0.01 during midday trading on Friday, reaching $0.60. The company had a trading volume of 1,811,748 shares, compared to its average volume of 4,238,549. The firm has a market cap of $71.98 million, a PE ratio of -0.31 and a beta of 0.09. The stock has a fifty day moving average price of $1.00 and a 200 day moving average price of $0.86. Invivyd has a fifty-two week low of $0.35 and a fifty-two week high of $4.74.

Invivyd (NASDAQ:IVVD) last posted its quarterly earnings data on Thursday, March 20th. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.10. The firm had revenue of $13.80 million during the quarter, compared to the consensus estimate of $13.57 million. As a group, sell-side analysts forecast that Invivyd will post -1.64 EPS for the current year.

Insider Buying and Selling at Invivyd

In other Invivyd news, Director Terrance Mcguire sold 86,545 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $0.48, for a total transaction of $41,541.60. Following the sale, the director now owns 3,170,231 shares of the company’s stock, valued at approximately $1,521,710.88. The trade was a 2.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 17.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Jane Street Group LLC grew its stake in Invivyd by 290.5% during the fourth quarter. Jane Street Group LLC now owns 117,432 shares of the company’s stock worth $52,000 after purchasing an additional 87,358 shares during the period. Barclays PLC increased its stake in shares of Invivyd by 7.8% in the 4th quarter. Barclays PLC now owns 127,180 shares of the company’s stock valued at $56,000 after acquiring an additional 9,207 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Invivyd during the 4th quarter valued at $74,000. JPMorgan Chase & Co. boosted its stake in Invivyd by 644.1% during the fourth quarter. JPMorgan Chase & Co. now owns 256,900 shares of the company’s stock worth $114,000 after acquiring an additional 222,375 shares in the last quarter. Finally, Two Sigma Advisers LP grew its holdings in 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 purchasing an additional 282,100 shares during the period. 70.36% of the stock is owned by institutional investors.

Invivyd Company 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.