Invivyd (NASDAQ:IVVD) Upgraded to “Overweight” by Morgan Stanley

Invivyd (NASDAQ:IVVD) was upgraded by stock analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued on Tuesday, Marketbeat reports. The brokerage presently has a $10.00 price objective on the stock, up from their previous price objective of $4.00. Morgan Stanley’s price target indicates a potential upside of 150.00% from the company’s previous close.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $15.00 target price on shares of Invivyd in a research note on Monday.

Invivyd Stock Performance

NASDAQ:IVVD opened at $4.00 on Tuesday. Invivyd has a 1 year low of $0.98 and a 1 year high of $5.20. The stock has a market cap of $440.44 million, a price-to-earnings ratio of -2.58 and a beta of 0.60. The business has a fifty day moving average of $4.16 and a 200-day moving average of $2.86.

Insider Activity at Invivyd

In related news, major shareholder Adimab, Llc sold 5,000,000 shares of the stock in a transaction on Friday, January 19th. The stock was sold at an average price of $3.95, for a total value of $19,750,000.00. Following the completion of the transaction, the insider now owns 21,687,906 shares in the company, valued at approximately $85,667,228.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 19.10% of the company’s stock.

Institutional Investors Weigh In On Invivyd

Several hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC purchased a new stake in shares of Invivyd during the 1st quarter worth about $25,000. Principal Financial Group Inc. bought a new position in shares of Invivyd in the 1st quarter valued at approximately $29,000. Barclays PLC acquired a new stake in Invivyd in the 1st quarter valued at approximately $31,000. Jane Street Group LLC acquired a new stake in Invivyd in the 1st quarter valued at approximately $32,000. Finally, Naples Global Advisors LLC acquired a new stake in shares of Invivyd during the 3rd quarter worth approximately $34,000. 70.36% of the stock is owned by hedge funds and other institutional investors.

Invivyd Company Profile

Invivyd, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of antibody-based solutions for infectious diseases in the United States. The company's lead product candidate is adintrevimab, a neutralizing antibody that is in Phase 3 clinical trials for the treatment and prevention of coronavirus disease, as well as developing monoclonal antibody candidates, including VYD222 and VYD224, which provides neutralizing protection against SARS-CoV-2.