SCHEDULE 13D/A: Adimab Reduces Invivyd Stake to 7.3%

Adimab, LLC has reported a decrease in its beneficial ownership of Invivyd, Inc. common stock to 7.3% following recent open market sales.

Summary

• Adimab, LLC, the reporting person, has filed Amendment No. 5 to its Schedule 13D, amending and supplementing previous filings.
• The amendment reports a decrease in Adimab's beneficial ownership of Invivyd, Inc. common stock by more than 1%.
• Adimab now beneficially owns 20,262,170 shares, representing 7.3% of Invivyd's common stock.
• This percentage is based on 277,122,834 shares outstanding, which includes 233,122,834 shares as of October 30, 2025, and an additional 44,000,000 shares issued on November 19, 2025.
• On December 23, 2025, Adimab sold 192,320 shares of common stock in a series of open market transactions.
• The weighted average sale price for these shares was $3.0028 per share, with individual transaction prices ranging from $3.00 to $3.005 per share.
• Adimab retains sole voting and sole dispositive power with respect to all of the shares of Common Stock that it beneficially owns.

Sentiment

Score: 4

Explanation: The sentiment is moderately negative as a significant beneficial owner has reduced its stake, which can be perceived as a lack of confidence or a strategic divestment, potentially putting downward pressure on the stock.

Negatives

• A significant shareholder, Adimab, LLC, has reduced its stake in Invivyd, Inc. by more than 1%, which could be interpreted negatively by the market.
• The sale of 192,320 shares at a weighted average price of $3.0028 per share indicates a divestment at a specific valuation.

Future Outlook

No forward-looking statements or guidance from the company or Adimab, LLC are provided in this filing.

Management Comments

• The Reporting Person undertakes to provide to the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within this range.

Industry Context

This filing is specific to a change in beneficial ownership by a particular entity (Adimab, LLC) in Invivyd, Inc. It does not provide broader industry trends or context.

Stakeholder Impact

• Shareholders: The reduction in stake by a significant holder like Adimab, LLC, could lead to negative market sentiment and potential downward pressure on Invivyd's share price.
• Company (Invivyd, Inc.): The divestment by a major investor might raise questions about the company's long-term prospects or investor confidence.

Next Steps

• Adimab, LLC will provide full information regarding the number of shares sold at each separate price within the reported range to the SEC Staff upon request.

Key Dates

Recommendation

The filing indicates that Adimab, LLC, a substantial beneficial owner, has reduced its stake in Invivyd, Inc. by more than 1% through open market sales. Such a divestment by a significant investor can be interpreted by the market as a negative signal, potentially reflecting a lack of conviction in the company's future performance or a strategic decision to reallocate capital. This action could exert downward pressure on the stock price, making a 'sell' recommendation appropriate for investors seeking to avoid potential losses or re-evaluate their position.

Keywords

Invivyd, Adimab, Schedule 13D, beneficial ownership, common stock, share sale, equity stake, SEC filing