Analyst Patrick Trucchio from H.C. Wainwright reiterated a Buy rating on Invivyd (IVVD – Research Report) and keeping the price target at $10.00.
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Patrick Trucchio’s rating is based on several positive developments for Invivyd. The company has shown a strong finish to 2024, indicating a promising acceleration in the launch of PEMGARDA, a monoclonal antibody (mAb) that has received Emergency Use Authorization for COVID-19 prevention in immunocompromised individuals. The financial results for the fourth quarter of 2024, although slightly below expectations, demonstrated a significant sequential revenue increase, driven by heightened demand for alternatives to COVID-19 vaccines.
Furthermore, Invivyd’s next-generation COVID-19 program is making notable progress. The Phase 1 data for VYD2311, another mAb, indicates potential as both a treatment and preventive measure against COVID-19, showing improved potency and promising pharmacokinetic characteristics. These advancements suggest Invivyd’s strong positioning in the COVID-19 therapeutics landscape, supporting Trucchio’s Buy rating for Invivyd’s stock.
Based on the recent corporate insider activity of 6 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of IVVD in relation to earlier this year.