Short Interest in Invivyd, Inc. (NASDAQ:IVVD) Drops By 28.8%

Invivyd, Inc. (NASDAQ:IVVD) was the recipient of a significant 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 sold short. Based on an average daily volume of 14,530,000 shares, the short-interest ratio is presently 0.5 days.

Invivyd Trading Up 0.9 %

Shares of Invivyd stock traded up $0.01 during trading hours on Monday, reaching $0.61. The stock had a trading volume of 1,189,752 shares, compared to its average volume of 4,226,435. Invivyd has a twelve month low of $0.35 and a twelve month high of $4.74. The firm has a market capitalization of $72.61 million, a PE ratio of -0.31 and a beta of 0.09. The stock’s 50 day moving average is $1.01 and its 200 day moving average is $0.85.

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

Hedge Funds Weigh In On Invivyd

Large investors have recently added to or reduced their stakes in the stock. State Street Corp increased its stake in shares of Invivyd by 3.7% during the third 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 in the last quarter. Barclays PLC boosted its holdings in Invivyd by 179.6% in the 3rd quarter. Barclays PLC now owns 117,973 shares of the company’s stock worth $120,000 after buying an additional 75,780 shares during the last quarter. Two Sigma Investments LP increased its stake in Invivyd by 125.3% during the 4th quarter. Two Sigma Investments LP now owns 367,100 shares of the company’s stock worth $163,000 after buying an additional 204,188 shares in the last quarter. Jane Street Group LLC raised its holdings in shares of Invivyd by 290.5% during the fourth quarter. Jane Street Group LLC now owns 117,432 shares of the company’s stock valued at $52,000 after acquiring an additional 87,358 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its position in shares of Invivyd by 1,276.5% in the fourth quarter. Two Sigma Advisers LP now owns 304,200 shares of the company’s stock valued at $135,000 after acquiring an additional 282,100 shares in the last quarter. 70.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on IVVD. D. Boral Capital reaffirmed a “buy” rating and set a $9.00 price target on shares of Invivyd in a research report on Thursday, March 20th. HC Wainwright reaffirmed a “buy” rating and set a $10.00 target price on shares of Invivyd in a report on Wednesday, March 26th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Invivyd has a consensus rating of “Buy” and an average target price of $7.89.

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.