Invivyd price target lowered to $5 from $10 at H.C. Wainwright

H.C. Wainwright lowered the firm’s price target on Invivyd (IVVD) to $5 from $10 and keeps a Buy rating on the shares following the Q1 revenue shortfall. Invivyd’s platform continues to evolve beyond COVID-19, with early signs of operational stabilization and pipeline expansion emerging in Q2, the analyst tells investors in a research note. The firm believes the company is transitioning from a single-asset COVID-19 story to a broader antibody-based infectious disease platform. It believes Invivyd has “multiple potential catalysts for near-term value creation.”