Invivyd (IVVD) AI Stock Analysis

• Market Cap: $509.91M
• Dividend Yield: N/A
• Average Volume (3M): 3.02M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.81
• Revenue Growth: 332.71%
• EPS Growth: 75.73%
• Country: US
• Employees: 99
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.06
• Shares Outstanding: 277,122,830
• 10 Day Avg. Volume: 3,550,639
• 30 Day Avg. Volume: 3,021,136
• PEG Ratio: 0.01
• Price to Book (P/B): 0.78
• Price to Sales (P/S): 2.07
• P/FCF Ratio: -0.31
• Enterprise Value/Market Cap: 0.32
• Enterprise Value/Revenue: 3.24
• Enterprise Value/Gross Profit: 3.47
• Enterprise Value/Ebitda: -2.77
• 1Y Price Target: $10.00
• Price Target Upside: 443.48% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 47 Neutral
• Price Target: $1.50 ▼(-18.48% Downside)

The score is held back primarily by ongoing large losses and significant free-cash-flow burn, alongside weak technical momentum. Offsetting factors include very strong gross margins, low leverage, and a more positive forward outlook from the earnings call tied to funding and advancement of the VYD2311 pivotal program.

Positive Factors

Very high gross margin (~93%)

Sustained ~93% gross margins indicate exceptional product-level economics for monoclonal antibodies. Over months this supports scalability: unit sales convert strongly to gross profit, enabling the company to invest in R&D and commercialization while requiring fewer incremental sales to materially improve operating leverage.

Robust revenue growth and commercial traction

Consistent double-digit quarterly and annual revenue growth suggests meaningful market adoption and product-market fit. Paired with high reorder rates and expanding GPO/site reach, this durable commercial traction supports predictable recurring demand and the potential to scale margins as fixed costs are spread over higher volumes.

Strengthened cash runway from financings

A sizable cash balance after recent financings materially extends the company’s runway to complete pivotal trials and commercial build-out. This reduces immediate refinancing pressure, enabling strategic execution on VYD2311 and RSV programs and lowering short-term funding risk while development milestones mature.

Negative Factors

Severe cash burn and negative FCF

Persistent ~-$80M TTM cash burn means reliance on external capital to fund operations and trials. Over the medium term this raises dilution risk and constrains capital allocation flexibility; sustained negative cash flow forces recurring financing cycles that can divert management focus from commercialization execution.

Large, ongoing net losses and negative margins

Deep trailing losses and severely negative net margins show the business has not yet scaled operating structure to profitability. Even with strong gross margins, high SG&A and R&D keep earnings negative, prolonging the timeline to self-sustaining operations and increasing dependence on successful trial outcomes to alter the profit trajectory.

Revenue exposure to public-health dynamics and procurement

Sales fundamentally hinge on epidemiology, variant susceptibility, and procurement cycles, yielding lumpy, hard-to-forecast revenues. Structural reliance on government or institutional buying and changing public-health priorities can impair long-term revenue visibility and complicate forecasting for commercialization and capacity planning.

Invivyd Business Overview & Revenue Model

Company Description

Adagio Therapeutics, Inc., a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of antibody-based solutions for infectious diseases in the United States. The company's lead product candidate is the ADG20 (adintrevimab), a neutralizing antibody that is in Phase 3 clinical trials for the treatment and prevention of coronavirus disease. Adagio Therapeutics, Inc. has a collaboration agreement with Adimab, LLC for the discovery and optimization of proprietary antibodies; and the Scripps Research Institute to perform research activities to identify vaccine candidates for the prevention, diagnosis or treatment of influenza or beta coronaviruses. The company was incorporated in 2020 and is based in Waltham, Massachusetts.

How the Company Makes Money

Invivyd generates revenue primarily through the development and commercialization of its therapeutic products. The company invests in research and development to create proprietary monoclonal antibodies that can be licensed or sold to healthcare providers, pharmaceutical companies, or directly to the market. Revenue streams may include product sales, licensing agreements, and potential partnerships or collaborations with other pharmaceutical companies. These partnerships can involve co-development or co-marketing arrangements, which can significantly contribute to the company's earnings by leveraging shared resources and expertise.

Invivyd Financial Statement Overview

Summary

Strong TTM revenue growth and very high gross margin (~93%) are positives, and the balance sheet shows minimal debt. However, profitability and cash generation are major weaknesses, with a deep TTM net loss (net margin ~-120%) and heavy operating/free-cash-flow burn (~-$80M), keeping financing/dilution risk elevated despite improved trends versus 2024.

Income Statement

TTM (Trailing-Twelve-Months) revenue is $50.0M and up strongly versus the prior annual period, and gross profit is very high ($46.7M; ~93% gross margin), indicating attractive product-level economics. However, profitability remains deeply negative: TTM net loss is -$59.9M with net margin around -120% and operating losses still significant. While losses have narrowed materially versus 2024, the income statement still reflects a business that has not yet scaled enough to cover operating costs.

Balance Sheet

Leverage appears low with only ~$2.7M of total debt against ~$93.1M of equity (low debt-to-equity), which reduces financial risk and supports funding flexibility. That said, equity and total assets have trended down meaningfully over the last few years, consistent with ongoing losses and cash usage, and return on equity remains sharply negative in TTM—highlighting continued value dilution risk if losses persist.

Cash Flow

Cash generation is a key weakness: TTM operating cash flow is -$80.3M and free cash flow is -$80.4M, implying continued cash burn to fund operations. Cash burn has improved versus 2024 (less negative), but free cash flow growth is still negative in TTM and cash flow remains materially below breakeven, which can increase future financing dependence.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	50.04M	25.38M	0.00	0.00	0.00	0.00
Gross Profit	46.71M	23.77M	0.00	0.00	0.00	0.00
EBITDA	-58.49M	-173.76M	-205.75M	-225.80M	-219.41M	0.00
Net Income	-59.86M	-169.93M	-198.64M	-241.32M	-226.79M	-111.98M
Balance Sheet
Total Assets	139.16M	129.51M	229.18M	383.17M	620.09M	117.38M
Cash, Cash Equivalents and Short-Term Investments	84.97M	69.35M	200.64M	371.99M	591.42M	114.99M
Total Debt	2.68M	1.30M	2.17M	3.72M	0.00	0.00
Total Liabilities	46.09M	61.98M	51.71M	27.20M	62.07M	182.63M
Stockholders Equity	93.07M	67.54M	177.47M	355.97M	558.02M	-65.25M
Cash Flow
Free Cash Flow	-80.44M	-170.63M	-173.78M	-221.69M	-184.82M	-14.57M
Operating Cash Flow	-80.29M	-170.49M	-173.16M	-219.99M	-184.74M	-14.57M
Investing Cash Flow	-150.00K	-140.00K	280.68M	-230.67M	-50.71M	0.00
Financing Cash Flow	58.53M	39.33M	1.04M	506.00K	662.68M	129.56M

Invivyd Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.84
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IVVD, the sentiment is Negative. The current price of 1.84 is below the 20-day moving average (MA) of 2.18, below the 50-day MA of 2.33, and above the 200-day MA of 1.39, indicating a neutral trend. The MACD of -0.16 indicates Positive momentum. The RSI at 36.17 is Neutral, neither overbought nor oversold. The STOCH value of 18.50 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IVVD.

Invivyd Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DSGN	55 Neutral	$569.64M	-8.42	-29.83%	―	―	-40.26%
RCKT	52 Neutral	$360.38M	-1.48	-74.88%	―	―	18.39%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
IVVD	47 Neutral	$509.91M	-3.89	-67.94%	―	332.71%	75.73%
FDMT	47 Neutral	$473.86M	-2.36	-45.38%	―	―	―
LRMR	45 Neutral	$280.74M	-1.70	-78.24%	―	―	-67.41%

Invivyd Corporate Events

Invivyd Reports Strong PEMGARDA Growth and Advances VYD2311

On January 8, 2026, Invivyd reported preliminary fourth-quarter 2025 net product revenue of $17.2 million from its COVID-19 prophylactic antibody PEMGARDA (pemivibart), reflecting 25% year-over-year and 31% sequential growth, and said year-end 2025 cash and cash equivalents stood at $226.7 million following more than $200 million in second-half financing, strengthening its capacity to fund late-stage development and commercialization efforts. The company highlighted the December 2025 initiation of DECLARATION, a Phase 3 pivotal trial of its vaccine-alternative antibody VYD2311 for COVID prevention, which already has U.S. FDA Fast Track designation, and detailed pipeline expansion with the nomination of potential best-in-class RSV antibody VBY329 for pediatric prophylaxis and ongoing discovery work on ultra-long half-life RSV and measles antibodies, underscoring Invivyd’s bid to establish monoclonal antibody prophylaxis as a new standard of care and broaden its footprint in large, fast-growing infectious disease markets.

The most recent analyst rating on (IVVD) stock is a Hold with a $2.50 price target. To see the full list of analyst forecasts on Invivyd stock, see the IVVD Stock Forecast page.

Invivyd’s COVID Antibody VYD2311 Receives FDA Fast Track

On December 23, 2025, Invivyd announced that the U.S. Food and Drug Administration granted Fast Track designation to VYD2311, its investigational vaccine-alternative monoclonal antibody designed to prevent COVID in individuals with underlying risk factors for severe disease. The designation could accelerate regulatory review for VYD2311, which is being evaluated in DECLARATION, a pivotal Phase 3 randomized, triple-blind, placebo-controlled trial enrolling about 1,770 adults and adolescents—with and without risk factors—to test single and monthly intramuscular dosing over three months, with top-line data expected in mid-2026; the program underscores Invivyd’s push to secure a stronger position in the COVID prevention market as an antibody-based alternative to vaccines, potentially broadening options for high-risk and general populations if efficacy and safety are confirmed.

The most recent analyst rating on (IVVD) stock is a Buy with a $10.00 price target. To see the full list of analyst forecasts on Invivyd stock, see the IVVD Stock Forecast page.

Invivyd Unveils Promising RSV Antibody Candidate

On November 24, 2025, Invivyd, Inc. announced the selection of VBY329, a potential best-in-class monoclonal antibody candidate for the prevention of Respiratory Syncytial Virus (RSV) in newborns, infants, and children. VBY329, developed using Invivyd’s proprietary technology, shows higher potency and improved resistance compared to existing RSV treatments. The company aims for IND readiness by the second half of 2026, targeting the growing pediatric RSV prophylaxis market, which is expected to reach $3-$4 billion globally by 2030. This development could significantly enhance Invivyd’s industry positioning by providing a novel solution in a rapidly expanding market.

The most recent analyst rating on (IVVD) stock is a Buy with a $10.00 price target. To see the full list of analyst forecasts on Invivyd stock, see the IVVD Stock Forecast page.

Invivyd Raises $117.2 Million in Public Offering

On November 17, 2025, Invivyd, Inc. entered into an underwriting agreement with Cantor Fitzgerald & Co. for a public offering of 44,000,000 shares of common stock and pre-funded warrants for 6,000,000 shares, raising approximately $117.2 million. The proceeds will support the commercial preparedness for VYD2311, ongoing research and development, and other corporate purposes, potentially impacting the company’s market position and stakeholders.

The most recent analyst rating on (IVVD) stock is a Buy with a $10.00 price target. To see the full list of analyst forecasts on Invivyd stock, see the IVVD Stock Forecast page.

Invivyd Reports Strong Q3 Growth and FDA Clearance

On November 6, 2025, Invivyd reported its third-quarter financial results, highlighting a 41% year-over-year growth in PEMGARDA revenue and a strengthened cash position following a public offering. The company announced the FDA clearance for its VYD2311 clinical program, which includes pivotal trials expected to start by the end of 2025. Invivyd aims to secure its position as a leader in providing antibody protection against COVID-19 and is preparing for the potential commercial launch of VYD2311. Additionally, the company is exploring pipeline expansion beyond COVID-19, targeting other infectious diseases like RSV and measles.

The most recent analyst rating on (IVVD) stock is a Buy with a $10.00 price target. To see the full list of analyst forecasts on Invivyd stock, see the IVVD Stock Forecast page.