EF Hutton Acquisition Co. I Upgrades Invivyd (NASDAQ:IVVD) to Strong-Buy

Invivyd (NASDAQ:IVVD) was upgraded by EF Hutton Acquisition Co. I to a “strong-buy” rating in a research note issued to investors on Wednesday, Zacks.com reports.

Separately, HC Wainwright reiterated a “buy” rating and issued a $15.00 target price on shares of Invivyd in a research report on Tuesday.

Invivyd Price Performance

Shares of NASDAQ IVVD opened at $0.89 on Wednesday. Invivyd has a 12-month low of $0.81 and a 12-month high of $5.20. The stock’s 50 day simple moving average is $0.99 and its 200 day simple moving average is $1.40.

Invivyd (NASDAQ:IVVD) last posted its earnings results on Wednesday, August 14th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.03). The business had revenue of $2.26 million for the quarter, compared to analysts’ expectations of $4.91 million. Sell-side analysts expect that Invivyd will post -0.6 earnings per share for the current year.

Institutional Trading of Invivyd

Several institutional investors have recently modified their holdings of IVVD. Duquesne Family Office LLC acquired a new position in shares of Invivyd in the 2nd quarter worth approximately $629,000. Acadian Asset Management LLC grew its holdings in shares of Invivyd by 232.0% in the 2nd 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 last quarter. Renaissance Technologies LLC purchased a new stake in shares of Invivyd during the second quarter valued at $421,000. Bank of New York Mellon Corp acquired a new position in shares of Invivyd in the 2nd quarter valued at $263,000. Finally, Dimension Capital Management LLC increased 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 worth $209,000 after purchasing an additional 134,571 shares in the last quarter. Institutional investors and hedge funds own 70.36% of the company’s stock.

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.