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

Invivyd, Inc. (NASDAQ:IVVD - Get Free Report) was the target of a large 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. Currently, 8.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 14,530,000 shares, the short-interest ratio is currently 0.5 days.

Hedge Funds Weigh In On Invivyd

Several institutional investors have recently modified their holdings of IVVD. Mithril II GP LP bought a new position in Invivyd during the 4th quarter worth approximately $4,981,000. Two Sigma Advisers LP raised 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. Deutsche Bank AG grew its holdings in shares of 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. JPMorgan Chase & Co. grew its holdings in shares of Invivyd by 644.1% in 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 during the period. Finally, Two Sigma Investments LP increased its position in shares of Invivyd by 125.3% in the 4th 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 in the last quarter. 70.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on IVVD shares. D. Boral Capital reissued a "buy" rating and set a $9.00 price objective on shares of Invivyd in a report on Thursday, March 20th. HC Wainwright reissued a "buy" rating and set a $10.00 price target on shares of Invivyd in a research note on Wednesday, March 26th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $7.89.

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Invivyd Stock Down 5.0 %

NASDAQ IVVD traded down $0.03 during trading hours on Thursday, hitting $0.55. The company's stock had a trading volume of 1,703,416 shares, compared to its average volume of 4,222,140. The stock has a fifty day moving average of $1.01 and a 200 day moving average of $0.85. Invivyd has a twelve month low of $0.35 and a twelve month high of $4.03. The firm has a market capitalization of $65.98 million, a P/E ratio of -0.28 and a beta of 0.09.

Invivyd (NASDAQ:IVVD - Get Free Report) last posted its quarterly earnings results on Thursday, March 20th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.10. The company had revenue of $13.80 million during the quarter, compared to the consensus estimate of $13.57 million. On average, analysts predict that Invivyd will post -1.64 earnings per share for the current 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.