Invivyd Inc. (IVVD) PT Lowered to $5 at H.C. Wainwright

H.C. Wainwright analyst Patrick Trucchio lowered the price target on Invivyd Inc. (NASDAQ: IVVD) to $5.00 (from $10.00) while maintaining a Buy rating.

The analyst commented: "During our fireside chat with management—including CSO Robert Allen and VP of Finance Katie Falzone—at the well-attended HCW 3rd Annual BioConnect Conference on May 20, we discussed both near-term execution hurdles and longer-term growth potential. Prior to the event, we also held a separate call with Chairperson of the Board Marc Elia to review strategic priorities. While the initial launch trajectory of PEMGARDA (pemivibart) fell short of expectations, management reaffirmed guidance for non-GAAP profitability by the end of 1H25 and cited early signs of commercial reacceleration under its now fully internalized sales force. With a Phase 1 data readout for next-generation mAb candidate VYD2311 expected later this quarter and newly announced discovery programs in measles and RSV gaining momentum, we believe Invivyd is transitioning from a single-asset COVID-19 story to a broader antibody-based infectious disease platform. That said, we lowered our price target to $5 from $10 following the 1Q25 revenue shortfall but maintain our Buy rating, reflecting multiple potential catalysts for near-term value creation."

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