Invivyd, Inc. (NASDAQ:IVVD) Short Interest Down 28.8% in March

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. D. Boral Capital reissued a “buy” rating and issued a $9.00 price target on shares of Invivyd in a research note on Thursday, March 20th. HC Wainwright reissued a “buy” rating and issued a $10.00 target price on shares of Invivyd in a research note on Wednesday, March 26th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Invivyd has an average rating of “Buy” and an average price target of $7.89.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Mithril II GP LP acquired a new stake in Invivyd during the fourth quarter worth $4,981,000. State Street Corp increased its position in shares of Invivyd by 3.7% during the 3rd quarter. State Street Corp now owns 1,018,640 shares of the company’s stock worth $1,039,000 after purchasing an additional 35,904 shares during the last quarter. Deutsche Bank AG raised its holdings in Invivyd by 35.2% in the 4th quarter. Deutsche Bank AG now owns 874,406 shares of the company’s stock valued at $385,000 after buying an additional 227,463 shares during the period. Two Sigma Investments LP lifted its position in Invivyd by 125.3% in the fourth quarter. Two Sigma Investments LP now owns 367,100 shares of the company’s stock valued at $163,000 after buying an additional 204,188 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its stake in Invivyd by 1,276.5% during the fourth quarter. Two Sigma Advisers LP now owns 304,200 shares of the company’s stock worth $135,000 after buying an additional 282,100 shares during the period. 70.36% of the stock is currently owned by institutional investors and hedge funds.

Invivyd Stock Performance

Shares of NASDAQ IVVD traded up $0.01 during trading on Monday, hitting $0.61. 1,189,752 shares of the company were exchanged, compared to its average volume of 4,226,435. Invivyd has a 12-month low of $0.35 and a 12-month high of $4.74. The company has a fifty day moving average price of $1.01 and a 200-day moving average price of $0.85. The firm has a market capitalization of $72.61 million, a PE ratio of -0.31 and a beta of 0.09.

Invivyd (NASDAQ:IVVD) last issued its earnings results on Thursday, March 20th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.10. The firm had revenue of $13.80 million for the quarter, compared to analysts’ expectations of $13.57 million. Research analysts anticipate that Invivyd will post -1.64 earnings per share for the current fiscal year.

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.