SCHEDULE: Adimab Reduces Invivyd Stake to 8.8% After Share Sale

Adimab, LLC has reduced its beneficial ownership in Invivyd, Inc. to 8.8% after selling over 1.2 million shares in open market transactions.

Summary

• Adimab, LLC, the reporting person, filed Amendment No. 4 to its Schedule 13D, indicating a decrease in its beneficial ownership of Invivyd, Inc. Common Stock by more than 1%.
• The reporting person sold 1,233,416 shares of Common Stock on November 17, 2025.
• The shares were sold in a series of open market transactions at a weighted average price of $3.0026 per share, with prices ranging from $3.00 to $3.045 per share.
• Following these sales, Adimab, LLC beneficially owns 20,454,490 shares of Invivyd, Inc. Common Stock.
• This represents 8.8% of the outstanding Common Stock, based on 233,122,834 shares outstanding as of October 30, 2025.
• Adimab, LLC retains sole voting and sole dispositive power over all beneficially owned shares.

Sentiment

Score: 3

Explanation: The sentiment is negative as a significant shareholder has reduced its stake, which often signals a lack of confidence or a strategic divestment.

Negatives

• A significant shareholder, Adimab, LLC, has reduced its stake in Invivyd, Inc. by selling 1,233,416 shares.
• The reduction in ownership by a major investor can be perceived as a negative signal regarding the company's future prospects or valuation.

Future Outlook

The filing does not contain any forward-looking statements or guidance from Invivyd, Inc. or Adimab, LLC regarding Invivyd's future performance.

Industry Context

Adimab, LLC, a company focused on therapeutic antibody discovery and engineering technologies, has significantly reduced its stake in Invivyd, Inc., a likely biotechnology or pharmaceutical company. This move could reflect a strategic decision by Adimab to reallocate capital, realize profits, or a revised outlook on Invivyd's long-term potential within the competitive biotech sector.

Stakeholder Impact

• Shareholders of Invivyd, Inc. may view the reduction in Adimab's stake as a negative indicator, potentially leading to downward pressure on the stock price.
• The market may interpret this as a signal from a knowledgeable investor about the company's future prospects or valuation.

Next Steps

• Adimab, LLC undertakes to provide the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the reported range of $3.00 to $3.045 per share.

Key Dates

Recommendation

The divestment by a significant shareholder like Adimab, LLC, particularly a company involved in therapeutic antibody discovery, often signals a lack of conviction in the investee company's future performance or a strategic decision to reallocate capital. This action can create downward pressure on the stock price and suggests that a seasoned investor might consider reducing their exposure or selling their shares, especially in the absence of other positive catalysts.

Keywords

Invivyd, Adimab, Schedule 13D, beneficial ownership, stock sale, biotechnology, pharmaceutical, equity stake