Investors Buy High Volume of Call Options on Invivyd (NASDAQ:IVVD)

Invivyd, Inc. (NASDAQ:IVVD) was the recipient of unusually large options trading activity on Thursday. Stock traders bought 2,267 call options on the stock. This is an increase of 463% compared to the typical volume of 403 call options.

Invivyd Stock Up 12.9 %

Shares of IVVD traded up $0.27 during mid-day trading on Thursday, reaching $2.38. The company’s stock had a trading volume of 38,312,168 shares, compared to its average volume of 28,828,268. The company has a market cap of $284.93 million, a price-to-earnings ratio of -1.23 and a beta of 0.61. The business has a fifty day moving average of $0.55 and a 200 day moving average of $0.83. Invivyd has a 1 year low of $0.35 and a 1 year high of $5.10.

Insiders Place Their Bets

In other Invivyd news, Director Terrance Mcguire sold 86,545 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $0.48, for a total transaction of $41,541.60. Following the completion of the sale, the director now directly owns 3,170,231 shares in the company, valued at $1,521,710.88. This represents a 2.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders sold 816,466 shares of company stock valued at $423,214. Company insiders own 17.90% of the company’s stock.

Hedge Funds Weigh In On Invivyd

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IVVD. Renaissance Technologies LLC acquired a new stake in shares of Invivyd in the 2nd quarter valued at $421,000. Barclays PLC raised its holdings in Invivyd by 179.6% during the third quarter. Barclays PLC now owns 117,973 shares of the company’s stock valued at $120,000 after buying an additional 75,780 shares in the last quarter. Cubist Systematic Strategies LLC lifted its position in shares of Invivyd by 66.1% in the second quarter. Cubist Systematic Strategies LLC now owns 134,452 shares of the company’s stock worth $148,000 after buying an additional 53,499 shares during the last quarter. State Street Corp lifted its position in shares of Invivyd by 3.7% in the third quarter. State Street Corp now owns 1,018,640 shares of the company’s stock worth $1,039,000 after buying an additional 35,904 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in shares of Invivyd during the 3rd quarter worth about $27,000. Institutional investors own 70.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. HC Wainwright reissued a “buy” rating and issued a $10.00 price objective on shares of Invivyd in a report on Tuesday. EF Hutton Acquisition Co. I raised Invivyd to a “strong-buy” rating in a report on Wednesday, October 30th. Morgan Stanley lowered their target price on shares of Invivyd from $9.50 to $3.55 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Finally, D. Boral Capital reiterated a “buy” rating and issued a $9.00 price objective on shares of Invivyd in a report on Monday. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $7.89.

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.