Cornercap Investment Counsel Inc. Makes New Investment in Invivyd, Inc. (NASDAQ:IVVD)

Cornercap Investment Counsel Inc. acquired a new stake in shares of Invivyd, Inc. (NASDAQ:IVVD) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 77,753 shares of the company’s stock, valued at approximately $86,000.

Other large investors have also modified their holdings of the company. SG Americas Securities LLC grew its holdings in Invivyd by 198.6% in 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 period. Rhumbline Advisers grew its stake in shares of Invivyd by 4,434.1% during the 2nd quarter. Rhumbline Advisers now owns 84,017 shares of the company’s stock valued at $92,000 after buying an additional 82,164 shares during the period. Tidal Investments LLC acquired a new stake in shares of Invivyd during the 1st quarter worth $126,000. Bank of New York Mellon Corp purchased a new position in shares of Invivyd in the 2nd quarter worth $263,000. Finally, Chase Investment Counsel Corp acquired a new position in Invivyd in the first quarter valued at $271,000. 70.36% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, HC Wainwright restated a “buy” rating and set a $15.00 price target on shares of Invivyd in a research note on Tuesday, September 3rd.

Invivyd Price Performance

Invivyd stock opened at $1.15 on Friday. The firm has a fifty day moving average of $1.07 and a 200-day moving average of $2.01. Invivyd, Inc. has a 52-week low of $0.81 and a 52-week high of $5.20. The firm has a market capitalization of $137.36 million, a P/E ratio of -0.61 and a beta of 0.61.

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

Invivyd 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.