Invivyd (NASDAQ:IVVD) Trading 7.2% Higher

Invivyd, Inc. (NASDAQ:IVVD)’s stock price traded up 7.2% during trading on Wednesday . The stock traded as high as $1.36 and last traded at $1.34. 399,155 shares changed hands during trading, a decline of 45% from the average session volume of 728,513 shares. The stock had previously closed at $1.25.

Wall Street Analysts Forecast Growth

IVVD has been the topic of several research reports. HC Wainwright restated a “buy” rating and issued a $15.00 target price on shares of Invivyd in a research report on Friday, May 24th. Guggenheim upgraded Invivyd from a “neutral” rating to a “buy” rating and set a $9.00 price objective on the stock in a report on Friday, April 5th.

Invivyd Trading Up 2.3 %

The stock’s fifty day simple moving average is $1.47 and its 200 day simple moving average is $2.86. The company has a market cap of $157.50 million, a price-to-earnings ratio of -0.71 and a beta of 0.66.

Invivyd (NASDAQ:IVVD) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.38) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.13. On average, analysts predict that Invivyd, Inc. will post -0.6 EPS for the current year.

Insiders Place Their Bets

In related news, Director Terrance Mcguire sold 112,381 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $1.66, for a total transaction of $186,552.46. Following the completion of the sale, the director now directly owns 4,688,079 shares in the company, valued at $7,782,211.14. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 17.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new stake in Invivyd in the first quarter valued at $56,000. Tidal Investments LLC purchased a new stake in Invivyd in the 1st quarter valued at about $126,000. Chase Investment Counsel Corp acquired a new position in Invivyd in the first quarter valued at about $271,000. a16z Perennial Management L.P. acquired a new position in Invivyd in the fourth quarter valued at about $315,000. Finally, Acadian Asset Management LLC purchased a new position in Invivyd during the first quarter worth about $905,000. 70.36% of the stock is currently owned by hedge funds and other 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.