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

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. HC Wainwright reissued a “buy” rating and set a $10.00 price objective on shares of Invivyd in a research report on Wednesday, March 26th. D. Boral Capital reissued a “buy” rating and set a $9.00 price target on shares of Invivyd in a report on Thursday, March 20th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Invivyd presently has an average rating of “Buy” and an average target price of $7.89.

Invivyd Stock Performance

Shares of IVVD traded down $0.07 during mid-day trading on Tuesday, reaching $0.54. The stock had a trading volume of 1,953,736 shares, compared to its average volume of 4,230,866. The business has a fifty day moving average of $1.01 and a 200 day moving average of $0.85. The firm has a market cap of $64.78 million, a price-to-earnings ratio of -0.28 and a beta of 0.09. Invivyd has a 12 month low of $0.35 and a 12 month high of $4.24.

Invivyd (NASDAQ:IVVD) last released its earnings results on Thursday, March 20th. The company reported ($0.15) earnings per share for the quarter, beating 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. On average, research analysts forecast that Invivyd will post -1.64 EPS for the current fiscal year.

Hedge Funds Weigh In On Invivyd

Several large investors have recently made changes to their positions in IVVD. State Street Corp raised its stake in Invivyd by 3.7% during the 3rd quarter. State Street Corp now owns 1,018,640 shares of the company’s stock valued at $1,039,000 after purchasing an additional 35,904 shares during the period. Barclays PLC grew its holdings in Invivyd by 179.6% during the 3rd quarter. Barclays PLC now owns 117,973 shares of the company’s stock valued at $120,000 after buying an additional 75,780 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Invivyd by 644.1% during the 4th quarter. JPMorgan Chase & Co. now owns 256,900 shares of the company’s stock valued at $114,000 after buying an additional 222,375 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Invivyd during the fourth quarter valued at approximately $74,000. Finally, Jane Street Group LLC lifted its holdings in shares of Invivyd by 290.5% in the fourth quarter. Jane Street Group LLC now owns 117,432 shares of the company’s stock worth $52,000 after buying an additional 87,358 shares in the last quarter. 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.