Analyst Patrick Trucchio of H.C. Wainwright reiterated a Buy rating on Invivyd (IVVD – Research Report), retaining the price target of $5.00.
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Patrick Trucchio has given his Buy rating due to a combination of factors, primarily revolving around the promising data from Invivyd’s VYD2311 Phase 1/2 trial. The trial results showed that VYD2311, a monoclonal antibody for COVID-19 prevention and treatment, was well tolerated with no serious adverse events and demonstrated a long half-life, particularly with intramuscular administration. This positions VYD2311 as a potentially best-in-class option for COVID-19 prophylaxis and treatment, with the added benefit of broad administration flexibility.
Furthermore, the upcoming discussions with the FDA regarding the registrational pathway for VYD2311 add to the positive outlook, as they represent a significant step toward commercialization. Trucchio also highlights the potential of VYD2311 to become a core value driver for Invivyd, given its scalable administration and broad applicability across various populations. The valuation of Invivyd reflects a risk-adjusted approach, considering potential risks related to clinical development, competition, and market dynamics, but the robust data and strategic positioning of VYD2311 support the Buy rating and a price target of $5.