Invivyd (NASDAQ:IVVD) Price Target Cut to $3.55 by Analysts at Morgan Stanley

Invivyd (NASDAQ:IVVD) had its price objective lowered by research analysts at Morgan Stanley from $9.50 to $3.55 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 407.29% from the company’s previous close.

A number of other brokerages have also commented on IVVD. HC Wainwright dropped their price objective on shares of Invivyd from $15.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday. EF Hutton Acquisition Co. I upgraded Invivyd to a “strong-buy” rating in a report on Wednesday, October 30th.

Invivyd Stock Performance

NASDAQ IVVD opened at $0.70 on Wednesday. The stock has a market cap of $83.71 million, a price-to-earnings ratio of -0.36 and a beta of 0.65. The business has a 50 day simple moving average of $0.97 and a 200 day simple moving average of $1.25. Invivyd has a 52-week low of $0.70 and a 52-week high of $5.20.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in IVVD. Proficio Capital Partners LLC bought a new stake in Invivyd during the 3rd quarter worth about $27,000. XTX Topco Ltd raised its holdings in Invivyd by 68.1% during the second quarter. XTX Topco Ltd now owns 37,938 shares of the company’s stock worth $42,000 after acquiring an additional 15,376 shares in the last quarter. SG Americas Securities LLC boosted its position in Invivyd by 198.6% during the second quarter. SG Americas Securities LLC now owns 37,893 shares of the company’s stock valued at $42,000 after purchasing an additional 25,201 shares during the last quarter. Cornercap Investment Counsel Inc. bought a new position in Invivyd in the second quarter valued at approximately $86,000. Finally, Rhumbline Advisers grew its stake in Invivyd by 4,434.1% in the second quarter. Rhumbline Advisers now owns 84,017 shares of the company’s stock valued at $92,000 after purchasing an additional 82,164 shares in the last quarter. Institutional investors own 70.36% of the company’s stock.

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.