BTIG Reiterates Buy Rating on Invivyd Inc. (IVVD)

BTIG analyst Thomas Shrader reiterated a Buy rating and $10.00 price target on Invivyd Inc. (NASDAQ: IVVD).

The analyst comments "Today's news is based on some solid facts including a long period of malaise that effects many COVID-19 patients (Long COVID is one name) and the ability to identify remnants of the COVID-19 Spike protein in many of these patients. The announced Invivyd trial will test large amounts of its new mAb VYD2311 in treating these patients with the goal of identifying meaningful improvements in these patients overall QOL. The therapeutic premise is somewhat TBD (Exhibit 1 from a presentation made to the NIH), but the idea that residual Spike protein (from past or latent infection or from a vaccine) may act as a persistent immune system irritant seems a reasonable start. Probably the most compelling result from the trial would be patients feeling better based on some kind of global assessment and this improvement correlating with reductions in COVID-19 residual load (employing high efficiency Simoa assay). Management advised the trial will be modest in size and not extremely expensive and the upside is very large as the potential market for patients that don't recover fully from COVID-19 infection is very large (up to millions of patients). The trial details seem likely to involve patients at the higher end of the residual immune symptoms scale and may well focus on particular classes of symptoms to try to reduce noise. Overall, it's a nice test for VYD2311 and its high potency and long half life. Similarly, the company is working to define a program to test the idea that therapeutic antibodies or mixtures of antibodies, might be useful in children in order to maximize the effects of vaccination by waiting for immune system maturation. The lead indication for this idea is likely measles where vaccines clearly work, but probably also work better in slightly older children. Again, the details are TBD, but the approach makes sense for subsets of babies and isn't solely focused on children unwilling to receive the vaccine."

For an analyst ratings summary and ratings history on Invivyd Inc. click here. For more ratings news on Invivyd Inc. click here.

Shares of Invivyd Inc. closed at $2.24 yesterday.

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