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

Invivyd, Inc. (NASDAQ:IVVD) saw a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 6,810,000 shares, a decline of 8.0% from the September 15th total of 7,400,000 shares. Currently, 9.4% of the shares of the company are short sold. Based on an average daily trading volume, of 438,400 shares, the days-to-cover ratio is presently 15.5 days.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a “buy” rating and set a $15.00 price target on shares of Invivyd in a research note on Tuesday, September 3rd.

Hedge Funds Weigh In On Invivyd

Hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC bought a new stake in Invivyd during the 1st quarter valued at approximately $56,000. Tidal Investments LLC purchased a new position in shares of Invivyd in the first quarter worth $126,000. XTX Topco Ltd grew its stake in Invivyd by 68.1% during the second quarter. XTX Topco Ltd now owns 37,938 shares of the company’s stock valued at $42,000 after acquiring an additional 15,376 shares in the last quarter. Chase Investment Counsel Corp bought a new stake in Invivyd in the 1st quarter valued at $271,000. Finally, Cornercap Investment Counsel Inc. purchased a new stake in Invivyd in the 2nd quarter worth $86,000. Institutional investors own 70.36% of the company’s stock.

Invivyd Stock Up 3.6 %

IVVD stock opened at $0.99 on Thursday. The business’s 50-day moving average price is $0.99 and its 200-day moving average price is $1.57. The stock has a market cap of $117.61 million, a P/E ratio of -0.53 and a beta of 0.63. Invivyd has a twelve month low of $0.81 and a twelve month high of $5.20.

Invivyd (NASDAQ:IVVD) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.03). The firm had revenue of $2.26 million for the quarter, compared to analysts’ expectations of $4.91 million. On average, equities research analysts expect that Invivyd will post -0.6 earnings per share for the current fiscal year.

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.