Invivyd, Inc. (NASDAQ: IVVD) disclosed that its Chief Scientific Officer, Robert D. Allen III, executed two stock sales on February 17 and February 18, 2026, aggregating to approximately $58,600 in proceeds. The transactions were carried out under a Rule 10b5-1 trading plan and were intended to satisfy tax obligations associated with the vesting of restricted stock units (RSUs).
The first transaction on February 17 involved the disposition of 18,189 shares. The second, on February 18, covered 19,392 shares. Reported prices for the transactions ranged from $1.5396 to $1.5778 per share. These discrete sales followed an option exercise earlier in the month on February 15, when Allen exercised options on 99,000 shares of Invivyd common stock that were related to restricted stock units.
Following the combination of the option exercise and the subsequent sales, Robert D. Allen III retains direct ownership of 114,487 shares of Invivyd common stock.
Regulatory and clinical program update
In parallel with the insider activity, Invivyd has reported receiving feedback from the U.S. Food and Drug Administration on its proposed Phase 3 LIBERTY trial. The planned study will compare the safety and immunologic profile of Invivyd's monoclonal antibody candidate, VYD2311, against existing mRNA COVID vaccines. Company management has indicated alignment with the FDA's guidance and will also evaluate a combination administration of VYD2311 with an mRNA vaccine as part of the trial design.
Invivyd expects to report Phase 3 trial results in August, according to commentary referenced in recent coverage.
Market and corporate developments
Following recent discussions with Invivyd executives and consideration of the FDA feedback, H.C. Wainwright reiterated a Buy rating on Invivyd and maintained a $10.00 price target. The firm cited confidence in Invivyd's potential as it approaches the Phase 3 readout.
In a separate corporate communications move, Invivyd announced a partnership with Olympic gold medalist Lindsey Vonn for a national education campaign set to launch in spring 2026. The initiative will focus on public education about antibodies and their role in combating infections, with Vonn serving as the campaign's spokesperson.
Context and takeaways
- The insider sales by Invivyd's CSO were executed under a pre-established trading plan and were explicitly linked to tax obligations from RSU vesting.
- Allen's February 15 option exercise of 99,000 shares is a separate event from the subsequent sales and is noted in the company filings.
- Invivyd continues to advance its VYD2311 program with FDA-aligned Phase 3 planning and an expected August readout, while also engaging in a public education partnership and maintaining analyst support from H.C. Wainwright.
These items - insider transactions, regulatory feedback, analyst coverage, and a public outreach campaign - together form the near-term news flow for Invivyd as it progresses through the next stages of its clinical program.