EF Hutton Launches Coverage of Invivyd: Promising Outlook Ahead
Analyst Prediction Indicates Potential 869.56% Growth
On October 30, 2024, EF Hutton began tracking Invivyd (NasdaqGM:IVVD) with a Buy rating. The firm’s analysis reveals an optimistic forecast for the company’s stock, projecting an average one-year price target of $8.82 per share. This forecast shows a remarkable increase of 869.56% compared to the recent closing price of $0.91 per share.
The price predictions from analysts vary significantly, ranging from a low of $1.11 to a high of $15.75. This variability reflects differing perspectives on Invivyd’s future performance.
Fund Sentiment Reveals Growing Interest
There are currently 142 funds or institutions invested in Invivyd, marking a 15.45% increase with 19 new owners added in the last quarter. The average portfolio allocation for these funds is now 0.11%, reflecting an increase of 65.16%. Institutional ownership rose by 4.76%, totaling 76,538K shares over the past three months. Notably, the put/call ratio for IVVD stands at 0.12, suggesting a generally bullish sentiment among investors.
Investment Holdings Overview
Maverick Capital remains a significant stakeholder, holding 11,766K shares, which accounts for 9.85% of the company, unchanged over the last quarter. Similarly, Deep Track Capital maintains its position with 10,954K shares, representing 9.17% ownership. M28 Capital Management also holds steady with 9,248K shares at 7.74%, as does Slate Path Capital with a 3.13% stake, or 3,735K shares.
683 Capital Management has updated its holdings, now owning 3,625K shares, which is a 4.14% increase from its last report of 3,475K shares. However, this firm decreased its portfolio allocation in Invivyd by 73.31% over the last quarter.
Company Insight
*(Provided by the company.)*
Invivyd is a clinical-stage biopharmaceutical company committed to developing antibody-based treatments for infectious diseases, particularly those with pandemic potential. Their antibodies are enhanced through advanced engineering techniques to ensure effectiveness, affordability, and manufacturability. Among their notable products is ADG20, a SARS-CoV-2 antibody designed for broad neutralization. The company has secured production capacity with third-party manufacturers to support clinical trials and future commercial efforts, pending regulatory approval.
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This article originally appeared on Fintel.
The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.
