Invivyd (IVVD)
NASDAQ:IVVD
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Invivyd
(NASDAQ:IVVD)
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Rating:49Neutral
Price Target:
$1.50
▼(-13.79% Downside)
Action:Reiterated
Date:05/14/26
The score is held down primarily by weak financial performance (large losses and cash burn despite strong gross margins) and a weak technical trend (below major moving averages with negative MACD). These are partially offset by constructive earnings-call fundamentals, including accelerating PEMGARDA revenue, positive operational/safety updates in the pivotal program, and management’s view that cash remains strong after the April ATM raise.
Positive Factors
High gross margins
Exceptionally high gross margins (~93% TTM) indicate strong unit economics for PEMGARDA sales, meaning incremental revenue largely flows to gross profit. Over 2–6 months this supports durability as scale reduces absorption of fixed costs and improves path to operating leverage.
Negative Factors
High cash burn
Large negative operating and free cash flows indicate the business is consuming substantial cash to fund trials and commercialization. Over several months this elevates financing risk and could force dilution or expense cuts if revenues or financing cannot cover ongoing burn.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross margins
Exceptionally high gross margins (~93% TTM) indicate strong unit economics for PEMGARDA sales, meaning incremental revenue largely flows to gross profit. Over 2–6 months this supports durability as scale reduces absorption of fixed costs and improves path to operating leverage.
Read all positive factors
Invivyd (IVVD) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$328.05M
Dividend YieldN/A
Average Volume (3M)3.49M
Price to Earnings (P/E)―
Beta (1Y)1.59
Revenue Growth52.27%
EPS Growth70.13%
CountryUS
Employees99
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.37
Shares Outstanding282,803,860
10 Day Avg. Volume4,837,578
30 Day Avg. Volume3,491,815
Financial Highlights & Ratios
PEG Ratio0.10
Price to Book (P/B)1.76
Price to Sales (P/S)7.96
P/FCF Ratio-7.30
Enterprise Value/Market Cap-0.08
Enterprise Value/Revenue-0.45
Enterprise Value/Gross Profit-0.48
Enterprise Value/Ebitda0.31
Forecast
1Y Price Target
$10.00Price Target Upside474.71% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)-0.28
Revenue Forecast (FY)$84.61M
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 t...
How the Company Makes Money
Invivyd primarily makes money by selling its monoclonal antibody product PEMGARDA (pemivibart) in the United States under its FDA Emergency Use Authorization (EUA). Revenue is generated from product sales (i.e., doses purchased and administered th...
Invivyd Earnings Call Summary
Earnings Call Date:May 14, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 19, 2026
Earnings Call Sentiment Positive
The call presents strong commercial momentum (PEMGARDA +22% YoY), advancing pivotal trial progress with encouraging safety signals (IDMC reduced monitoring), confirmed neutralization versus a recent Omicron subvariant, an expanding discovery pipeline, and a robust cash position after an April ATM raise. Near-term challenges include elevated clinical spend and burn during the pivotal, continued uncertainty around regulatory outcomes and efficacy readouts driven by event rates, declining COVID vaccine revenue, and imperfect external surveillance and media traction. On balance, concrete operational and scientific progress and expected high efficacy positioning outweigh the near-term financial and market uncertainties.Positive Updates
PEMGARDA Revenue Growth
PEMGARDA grew 22% year-over-year in 1Q2026 versus 1Q2025; leading indicators show continued growth and the company is scaling direct-to-consumer and AI channels to further increase disease and brand awareness.
Negative Updates
Declining COVID Vaccine Utilization and Revenue
Management noted declining COVID vaccine utilization and associated revenue, though no specific revenue decline percentage was provided.
Read all updates
Q1-2026 Updates
Positive
Negative
PEMGARDA Revenue Growth
PEMGARDA grew 22% year-over-year in 1Q2026 versus 1Q2025; leading indicators show continued growth and the company is scaling direct-to-consumer and AI channels to further increase disease and brand awareness.
Read all positive updates
Company Guidance
In the Q1 2026 call management guided that the pivotal DECLARATION study (upsized in early April) has resumed full‑speed recruitment and is expected to finish imminently, the IDMC recommended shortening post‑dose monitoring from 2 hours to 30 minutes, and the LIBERTY study will open and begin recruiting shortly; commercially, PEMGARDA grew 22% year‑over‑year versus 1Q 2025, Q1 included substantial clinical spend to support DECLARATION but the company said cash remains strong after an April at‑the‑market raise; scientifically, they confirmed neutralization versus Omicron BA.3.2, noted vaccine efficacy peaks at roughly 50% for a limited time while vaccines produce systemic reactogenicity in ~80–90% of people with ~3–3.5 symptom days, argued a monoclonal with even 10–15% efficacy can provide net symptomatic benefit, and said VYD2311 dosing was chosen to deliver titers consistent with an expected ~70–90% protection against symptomatic disease.Invivyd Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
62
Positive
Cash Flow
28
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 55.87M | 53.43M | 25.38M | 0.00 | 0.00 | 0.00 |
| Gross Profit | 51.92M | 49.68M | 23.77M | 0.00 | 0.00 | 0.00 |
| EBITDA | -79.85M | -53.45M | -173.76M | -205.75M | -225.80M | -219.41M |
| Net Income | -77.60M | -52.49M | -169.93M | -198.64M | -241.32M | -226.79M |
Balance Sheet | ||||||
| Total Assets | 241.74M | 276.88M | 129.51M | 229.18M | 383.17M | 620.09M |
| Cash, Cash Equivalents and Short-Term Investments | 184.15M | 226.69M | 69.35M | 200.64M | 371.99M | 591.42M |
| Total Debt | 8.63M | 2.49M | 1.30M | 2.17M | 3.72M | 0.00 |
| Total Liabilities | 38.69M | 35.34M | 61.98M | 51.71M | 27.20M | 62.07M |
| Stockholders Equity | 203.05M | 241.54M | 67.54M | 177.47M | 355.97M | 558.02M |
Cash Flow | ||||||
| Free Cash Flow | -79.45M | -58.29M | -170.63M | -173.78M | -221.69M | -184.82M |
| Operating Cash Flow | -78.72M | -58.13M | -170.49M | -173.16M | -219.99M | -184.74M |
| Investing Cash Flow | -737.00K | -155.00K | -140.00K | 280.68M | -230.67M | -50.71M |
| Financing Cash Flow | 215.52M | 215.63M | 39.33M | 1.04M | 506.00K | 662.68M |
Invivyd Technical Analysis
Positive
1.74
Price Trends
1.59
Positive
1.96
Negative
1.60
Positive
Market Momentum
0.03
Negative
57.55
Neutral
86.21
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IVVD, the sentiment is Positive. The current price of 1.74 is above the 20-day moving average (MA) of 1.49, above the 50-day MA of 1.59, and above the 200-day MA of 1.60, indicating a bullish trend. The MACD of 0.03 indicates Negative momentum. The RSI at 57.55 is Neutral, neither overbought nor oversold. The STOCH value of 86.21 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IVVD.
Invivyd Risk Analysis
Invivyd disclosed 92 risk factors in its most recent earnings report. Invivyd reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Invivyd Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
56 Neutral | $908.12M | -9.27 | -33.07% | ― | ― | -20.34% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $371.26M | -2.11 | -70.79% | ― | ― | 28.56% | |
50 Neutral | $512.82M | -2.30 | -36.83% | ― | 383560.87% | 20.87% | |
49 Neutral | $328.05M | -2.43 | -48.65% | ― | 52.27% | 70.13% | |
46 Neutral | $404.10M | ― | -137.70% | ― | ― | -68.86% |
* Healthcare Sector Average
IVVD
Invivyd
1.16
0.46
65.71%
LRMR
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3.89
2.02
108.02%
RCKT
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3.40
-3.32
-49.44%
FDMT
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9.81
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206.56%
DSGN
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14.54
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332.74%
Invivyd Corporate Events
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Invivyd Posts Strong Q1 Results, Advances VYD2311 Programs
Positive
May 14, 2026
On May 14, 2026, Invivyd reported first-quarter 2026 results showing PEMGARDA net product revenue of $13.7 million, a 22% increase over the prior-year period, and ending cash and cash equivalents of $184.2 million, supplemented by roughly $20 mill...
Business Operations and StrategyProduct-Related AnnouncementsRegulatory Filings and Compliance
Invivyd Advances COVID-19 Program and Launches Measles Antibody
Positive
Apr 9, 2026
On April 9, 2026, Invivyd reported progress in its REVOLUTION program, highlighting that pooled, blinded COVID-19 events in the ongoing Phase 3 DECLARATION trial of VYD2311 have already accumulated enough to support statistical power for the high ...
Business Operations and StrategyFinancial Disclosures
Invivyd Advances VYD2311 With Key Phase 3 Alignments
Positive
Mar 5, 2026
Invivyd reported fourth-quarter 2025 PEMGARDA net product revenue of $17.2 million, marking 25% year-over-year and 31% sequential growth, and ended 2025 with $226.7 million in cash and equivalents after raising more than $200 million in the second...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.