Short Interest in Invivyd, Inc. (NASDAQ:IVVD) Rises By 28.5%

Invivyd, Inc. (NASDAQ:IVVD) saw a large growth in short interest in the month of February. As of February 15th, there was short interest totalling 8,510,000 shares, a growth of 28.5% from the January 31st total of 6,620,000 shares. Currently, 11.2% of the shares of the company are short sold. Based on an average daily volume of 13,950,000 shares, the short-interest ratio is presently 0.6 days.

Invivyd Stock Down 4.2 %

Shares of IVVD stock traded down $0.05 during trading hours on Thursday, hitting $1.02. 638,801 shares of the company’s stock were exchanged, compared to its average volume of 21,009,426. Invivyd has a fifty-two week low of $0.35 and a fifty-two week high of $4.74. The firm has a market cap of $121.41 million, a P/E ratio of -0.52 and a beta of 0.61. The firm has a 50 day moving average of $0.90 and a two-hundred day moving average of $0.87.

Insiders Place Their Bets

In other news, Director Terrance Mcguire sold 160,400 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $0.59, for a total value of $94,636.00. Following the sale, the director now owns 4,202,679 shares in the company, valued at $2,479,580.61. This represents a 3.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders have sold 816,466 shares of company stock valued at $423,214. Company insiders own 17.90% of the company’s stock.

Institutional Investors Weigh In On Invivyd

Several institutional investors and hedge funds have recently added to or reduced their stakes in IVVD. Proficio Capital Partners LLC purchased a new position in Invivyd during the third quarter valued at $27,000. Jane Street Group LLC lifted its stake in Invivyd by 290.5% in the 4th quarter. Jane Street Group LLC now owns 117,432 shares of the company’s stock valued at $52,000 after buying an additional 87,358 shares in the last quarter. Barclays PLC boosted its holdings in Invivyd by 7.8% in the 4th quarter. Barclays PLC now owns 127,180 shares of the company’s stock worth $56,000 after buying an additional 9,207 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Invivyd in the fourth quarter worth approximately $74,000. Finally, JPMorgan Chase & Co. increased its position in shares of Invivyd by 644.1% during the fourth quarter. JPMorgan Chase & Co. now owns 256,900 shares of the company’s stock worth $114,000 after purchasing an additional 222,375 shares in the last quarter. Hedge funds and other institutional investors own 70.36% of the company’s stock.

Wall Street Analyst Weigh In

IVVD has been the topic of several recent research reports. Morgan Stanley lowered their price objective on Invivyd from $9.50 to $3.55 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. HC Wainwright reissued a “buy” rating and set a $10.00 price target on shares of Invivyd in a report on Monday, February 24th. Finally, D. Boral Capital reaffirmed a “buy” rating and issued a $9.00 price objective on shares of Invivyd in a report on Wednesday. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $7.89.

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.