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

Invivyd, Inc. (NASDAQ:IVVD) was the recipient of a significant growth in short interest in January. As of January 31st, there was short interest totalling 6,620,000 shares, a growth of 5.2% from the January 15th total of 6,290,000 shares. Based on an average daily volume of 12,710,000 shares, the short-interest ratio is presently 0.5 days. Approximately 8.8% of the company’s stock are short sold.

Analyst Ratings Changes

Several brokerages have recently weighed in on IVVD. EF Hutton Acquisition Co. I upgraded shares of Invivyd to a “strong-buy” rating in a research report on Wednesday, October 30th. Morgan Stanley cut their target price on shares of Invivyd from $9.50 to $3.55 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. HC Wainwright reaffirmed a “buy” rating and issued a $10.00 target price on shares of Invivyd in a report on Tuesday, February 4th. Finally, D. Boral Capital reaffirmed a “buy” rating and issued a $9.00 target price on shares of Invivyd in a report on Monday, February 3rd. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Invivyd currently has a consensus rating of “Buy” and a consensus price target of $7.89.

Invivyd Stock Performance

IVVD traded up $0.23 during trading on Monday, hitting $1.61. The stock had a trading volume of 7,174,796 shares, compared to its average volume of 36,383,976. The firm has a market capitalization of $192.59 million, a P/E ratio of -0.82 and a beta of 0.61. The company’s 50-day moving average price is $0.70 and its 200 day moving average price is $0.85. Invivyd has a twelve month low of $0.35 and a twelve month high of $4.74.

Insider Activity at Invivyd

In related news, Director Terrance Mcguire sold 160,400 shares of Invivyd stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $0.59, for a total value of $94,636.00. Following the completion of the transaction, the director now owns 4,202,679 shares in the company, valued at $2,479,580.61. The trade was a 3.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders sold 816,466 shares of company stock worth $423,214. Corporate insiders own 17.90% of the company’s stock.

Hedge Funds Weigh In On Invivyd

Several institutional investors have recently bought and sold shares of the company. Proficio Capital Partners LLC acquired a new position in shares of Invivyd during the 3rd quarter worth $27,000. State Street Corp grew its stake 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 period. Barclays PLC boosted its position in shares of 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 in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Invivyd by 644.1% in the 4th quarter. JPMorgan Chase & Co. now owns 256,900 shares of the company’s stock worth $114,000 after buying an additional 222,375 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of Invivyd in the 4th quarter worth about $74,000. 70.36% of the stock is owned by institutional investors and hedge funds.

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.