Invivyd, Inc. (NASDAQ:IVVD) Sees Significant Decrease in Short Interest

Invivyd, Inc. (NASDAQ:IVVD) was the target of a significant decrease in short interest in November. As of November 15th, there was short interest totalling 6,740,000 shares, a decrease of 18.5% from the October 31st total of 8,270,000 shares. Based on an average trading volume of 529,200 shares, the days-to-cover ratio is currently 12.7 days. Currently, 9.2% of the company’s stock are short sold.

Analyst Ratings Changes

IVVD has been the subject of several research reports. HC Wainwright reduced their target price on Invivyd from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, November 20th. Morgan Stanley reduced their price objective on Invivyd from $9.50 to $3.55 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. D. Boral Capital reaffirmed a “buy” rating and set a $9.00 target price on shares of Invivyd in a research report on Thursday, November 21st. Finally, EF Hutton Acquisition Co. I raised shares of Invivyd to a “strong-buy” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Invivyd currently has an average rating of “Buy” and an average target price of $7.89.

Institutional Investors Weigh In On Invivyd

Several institutional investors have recently bought and sold shares of IVVD. Duquesne Family Office LLC bought a new position in shares of Invivyd during the 2nd quarter worth approximately $629,000. Acadian Asset Management LLC lifted its holdings in Invivyd by 232.0% during the second quarter. Acadian Asset Management LLC now owns 678,706 shares of the company’s stock worth $745,000 after acquiring an additional 474,301 shares during the period. Renaissance Technologies LLC purchased a new position in Invivyd in the second quarter worth $421,000. Bank of New York Mellon Corp bought a new position in Invivyd in the 2nd quarter valued at $263,000. Finally, Dimension Capital Management LLC grew its stake in Invivyd by 243.3% in the 2nd quarter. Dimension Capital Management LLC now owns 189,871 shares of the company’s stock valued at $209,000 after purchasing an additional 134,571 shares during the period. Institutional investors own 70.36% of the company’s stock.

Invivyd Stock Performance

IVVD traded up $0.00 during midday trading on Monday, reaching $0.70. 757,959 shares of the company were exchanged, compared to its average volume of 645,812. The company has a market cap of $83.68 million, a price-to-earnings ratio of -0.36 and a beta of 0.65. Invivyd has a one year low of $0.58 and a one year high of $5.20. The company’s fifty day moving average price is $0.92 and its 200 day moving average price is $1.16.

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.