your badges 52W Range $1–$3 12% of range Analyst Rating BUY 9 analysts Price Target $10 +1116% upside P/E -2.7 ROE -95.9% Net Profit Margin -183.9%

IVVD Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

03
Price $0.82
Market Cap (MRQ) $242M
P/E (TTM) -2.7
EPS (TTM) $-0.31
Revenue (TTM) $58M
ROE (TTM) -95.9%
52W Range $1–$3

IVVD Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

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10-Year Performance Revenue, net income, margins and EPS trends

06
Revenue$53M
2023-12-31 → 2025-12-31
EPS$-0.30
2021-12-31 → 2025-12-31
Free Cash Flow$-58M
2022-12-31 → 2025-12-31
Net margin-183.9%
2024-12-31 → 2025-12-31
Valuation & Ratios 07–12

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric 5Y trend IVVD 5Y avg Peer Median Verdict
P/E (TTM) -2.75Y avg ≈-2.6 ≈-2.6 · ·
P/S (TTM) 4.2 · 44.0 Undervalued
P/B (MRQ) 1.35Y avg ≈1.6 ≈1.6 2.1 Undervalued
Price / FCF (TTM) -2.25Y avg ≈-3.9 ≈-3.9 · ·
Price / Cash Flow (TTM) -2.25Y avg ≈-3.9 ≈-3.9 · ·
Price / Tangible Book 1.05Y avg ≈1.6 ≈1.6 · ·

Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.

value · ≈ 5Y avg · industry median · verdict relative to median

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

14
Avg Surprise -130.4%
Next Report Nov 04, 2026
PeriodReportEPS ActualEPS EstSurprise
June 30, 2026 Aug 13, 2026 $-0.14 $-0.11 -28.7%
March 31, 2026 May 14, 2026 $-0.13 $-0.07 -73.8%
Dec. 31, 2025 $-0.04 $-0.09 55.2%
Sept. 30, 2025 $-0.06 $-0.08 26.5%
June 30, 2025 $-0.12 $-0.02 -404.2%
March 31, 2025 $-0.14 $-0.03 -357.5%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

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Income Statement 13
Metric Trend 202520242023
Revenue $53M$25M$0
R&D Expense $38M$137M$159M
SG&A Expense $67M$63M$49M
Operating Expenses $109M$202M$213M
Operating Income $-56M$-177M$-213M
Other Non-op $3M$7M$14M
Income Tax $0$0$0
Net Income $-52M$-170M$-199M
EPS (Basic) $-0.30$-1.43$-1.81
EPS (Diluted) $-0.30$-1.43$-1.81
Shares (Basic) 172,212,902118,555,073109,526,053
Shares (Diluted) 172,212,902118,555,073109,526,053
EBITDA $-56M$-177M$-213M
Balance Sheet 21
Metric Trend 202520242023
Cash & Equivalents $227M$69M$201M
Receivables $14M$11M$0
Inventory ·$26M$0
Prepaid Expense $7M$20M$24M
Other Current Assets ·$4M·
Current Assets $247M$101M$225M
PP&E (Net) $1M$2M$2M
Other Non-current Assets $110.0K$34.0K$175.0K
Total Assets $277M$130M$229M
Accounts Payable $14M$10M$8M
Accrued Liabilities $19M$50M$41M
Current Liabilities $34M$62M$50M
Capital Leases $1M$0$722.0K
Other Non-current Liabilities ·$0$700.0K
Total Liabilities $35M$62M$52M
Common Stock $28.0K$12.0K$11.0K
Retained Earnings $-954M$-902M$-732M
AOCI $-41.0K$-5.0K$-13.0K
Stockholders' Equity $242M$68M$177M
Liabilities + Equity $277M$130M$229M
Shares Outstanding 281,987,033119,835,162110,160,684
Cash Flow 10
Metric Trend 202520242023
Stock-based Comp $12M$20M$19M
Operating Cash Flow $-58M$-170M$-173M
CapEx $155.0K$140.0K$615.0K
Investing Cash Flow $-155.0K$-140.0K$281M
Stock Issued $254.0K$223.0K$240.0K
Stock Repurchased ·$0$1.0K
Net Stock Activity $254.0K$223.0K$239.0K
Financing Cash Flow $216M$39M$1M
Net Change in Cash $157M$-131M$109M
Free Cash Flow $-58M$-171M$-174M
Profitability 5
Metric Trend 202520242023
Operating Margin -104.0%-696.8%·
Net Margin -98.2%-669.4%·
EBITDA Margin -104.0%-696.8%·
ROA -25.8%-94.8%-64.9%
ROE -36.9%-225.5%-93.7%
Liquidity & Solvency 2
Metric Trend 202520242023
Current Ratio 7.21.64.5
Quick Ratio 7.01.34.0
Efficiency 2
Metric Trend 202520242023
Asset Turnover 0.30.1·
Receivables Turnover 4.34.7·
Per Share 5
Metric Trend 202520242023
Book Value / Share $0.86$0.56$1.61
Revenue / Share $0.31$0.21·
Cash Flow / Share $-0.34$-1.44$-1.58
Cash / Share $0.80$0.58$1.82
EPS (TTM) $-0.30$-1.43$-1.81
Growth Rates 1
Metric Trend 202520242023
Revenue YoY 110.5%··
Valuation (TTM) 10
Metric Trend 202520242023
Revenue TTM $53M$25M$0
Net Income TTM $-52M$-170M$-199M
Market Cap $697M$53M$434M
P/E -8.2-0.3-2.2
P/S 13.02.1·
P/B 2.90.82.4
P / Tangible Book 2.90.82.4
P / Cash Flow -12.0-0.3-2.5
P / FCF -11.9-0.3-2.5
Earnings Yield -12.2%-322.8%-45.9%

Most recent period on the left · null values shown as ·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

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Metric 2025-12-312024-12-312023-12-312022-12-312021-12-31
Revenue $53M $25M $0 · ·
Operating Margin % -104.0% -696.8% · · ·
Net Income $-52M $-170M $-199M $-241M $-227M
Diluted EPS $-0.30 $-1.43 $-1.81 $-2.23 $-5.32

Institutional owners (13F) 139 filers · $257.2M total · As of June 30, 2026

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Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Holders 139
Value held $257.2M
New positions 34
Exited positions 43
Institutional activity — Q2 2026 vs prior quarter
New positions Exited positions Increased Decreased Net shares change
34 (-9 vs prior Q) 43 (+29 vs prior Q) 41 (+3 vs prior Q) 28 (-2 vs prior Q) -26.3M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution Value Shares % of tracked 13F Type
JANUS HENDERSON GROUP PLC $42,857,157 33,094,330 16.66% Shares
VANGUARD GROUP INC $26,438,823 10,703,977 10.28% Shares
BVF INC/IL $24,571,146 28,165,000 9.55% Shares
MAVERICK CAPITAL LTD $16,550,225 18,970,913 6.44% Shares
PERCEPTIVE ADVISORS LLC $16,131,231 18,490,636 6.27% Shares
BlackRock, Inc. $14,076,073 16,134,885 5.47% Shares
Mithril II GP LP $12,365,738 11,241,580 4.81% Shares
VANGUARD CAPITAL MANAGEMENT LLC $9,152,954 10,496,507 3.56% Shares
M28 Capital Management LP $8,068,173 9,248,250 3.14% Shares
Saturn V Capital Management LP $7,321,432 8,392,288 2.85% Shares
Soleus Capital Management, L.P. $6,725,093 7,708,727 2.61% Shares
Point72 Asset Management, L.P. $6,579,694 7,542,061 2.56% Shares
MORGAN STANLEY $4,999,678 5,730,948 1.94% Shares
GEODE CAPITAL MANAGEMENT, LLC $4,728,560 5,418,774 1.84% Shares
Siren, L.L.C. $4,362,000 5,000,000 1.70% Shares
Driehaus Capital Management LLC $4,193,228 4,806,543 1.63% Shares
ADAR1 Capital Management, LLC $3,321,599 3,807,427 1.29% Shares
ADAGE CAPITAL PARTNERS GP, L.L.C. $3,194,275 3,661,480 1.24% Shares
CITADEL ADVISORS LLC $3,124,013 3,580,941 1.21% Shares
STATE STREET CORP $3,016,260 3,457,428 1.17% Shares
Qube Research & Technologies Ltd $2,896,576 3,320,238 1.13% Shares
Ikarian Capital, LLC $2,317,592 2,656,570 0.90% Shares
Redmile Group, LLC $2,266,285 2,597,759 0.88% Shares
TWO SIGMA ADVISERS, LP $2,264,002 916,600 0.88% Shares
683 Capital Management, LLC $2,165,770 2,482,543 0.84% Shares
TWO SIGMA INVESTMENTS, LP $2,035,723 2,333,474 0.79% Shares
Eversept Partners, LP $1,951,572 2,237,015 0.76% Shares
Ensign Peak Advisors, Inc $1,501,641 1,721,276 0.58% Shares
NORTHERN TRUST CORP $1,404,872 1,610,353 0.55% Shares
Boxer Capital Management, LLC $1,308,600 1,500,000 0.51% Shares
VANGUARD FIDUCIARY TRUST CO $1,272,258 1,459,012 0.49% Shares
VANGUARD PORTFOLIO MANAGEMENT LLC $1,236,262 1,417,732 0.48% Shares
MILLENNIUM MANAGEMENT LLC $1,051,765 1,205,599 0.41% Shares
RENAISSANCE TECHNOLOGIES LLC $868,329 995,334 0.34% Shares
GOLDMAN SACHS GROUP INC $853,689 978,552 0.33% Shares
DEUTSCHE BANK AG\ $687,952 790,749 0.27% Shares
BOOTHBAY FUND MANAGEMENT, LLC $675,792 774,635 0.26% Shares
UBS Group AG $481,570 552,260 0.19% Shares
Bank of New York Mellon Corp $451,833 517,920 0.18% Shares
CHARLES SCHWAB INVESTMENT MANAGEMENT INC $409,781 469,717 0.16% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $397,412 455,539 0.15% Shares
Invesco Ltd. $396,532 454,530 0.15% Shares
CANTOR FITZGERALD, L. P. $392,680 450,115 0.15% Shares
EMERALD MUTUAL FUND ADVISERS TRUST $374,126 428,847 0.15% Shares
Virtus Investment Advisers, LLC $370,712 424,933 0.14% Shares
BANK OF AMERICA CORP /DE/ $311,234 356,920 0.12% Shares
Birchview Capital, LP $298,601 342,275 0.12% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $281,097 323,100 0.11% Put option
Nuveen, LLC $244,563 280,333 0.10% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $241,599 277,700 0.09% Call option

Show all 139 institutional owners →

Activists & 5%+ owners 5 positions

18

Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.

Filer Filed Stake Status Purpose Filing
Adimab, LLC ×6 filings Dec. 29, 2025 7.30% Amendment · SEC
Mithril II LP, Mithril II GP LP, Mithril II UGP LLC, Ajay Royan, Peter Thiel ×6 filings Nov. 12, 2025 4.80% Amendment · SEC
Polaris Venture Partners V, L.P., Polaris Venture Partners Entrepreneurs' Fund V, L.P., Polaris Venture Partners Founders' Fund V, L.P., Polaris Venture Partners Special Founders' Fund V, L.P., Polaris Venture Management Co. V, L.L.C., Polaris Partners IX, L.P., Polaris Partners GP IX, L.L.C., Polaris Healthcare Technology Opportunities Fund, L.P., Polaris Healthcare Technology Opportunities Fund GP, L.L.C., Terrance McGuire, Jonathan Flint ×6 filings Nov. 7, 2025 3.00% Amendment · SEC
M28 Capital Management LP, Marc Elia ×5 filings Aug. 26, 2025 4.60% Amendment · SEC
Population Health Equity Partners III, L.P., Population Health Equity Partners III GP, LLC, Population Health Equity Partners VII, L.P., Population Health Equity Partners VII GP, LLC, Clive Meanwell, Christopher Cox ×3 filings June 24, 2022 · Initial filing · SEC

Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.

Company insiders 33 insiders · 15 officers · 19 directors

19
Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
Marc Elia Chief Executive Officer Aug. 30, 2026 A · 0 0 $0
David Hering Chief Executive Officer Dec. 18, 2023 A 8,000 0 0 $0
Tillman U. Gerngross Chief Executive Officer Jan. 30, 2022 A 27,845,995 0 0 $0
William E. Duke Chief Financial Officer Aug. 15, 2026 M 168,937 0 4 $-94,977
Jane Henderson Chief Financial Officer Jan. 30, 2022 A · 0 0 $0
Jeremy Gowler COO & CCO Dec. 18, 2023 A · 0 0 $0
Timothy Edward Lee Chief Commercial Officer Aug. 15, 2026 M 178,937 0 4 $-94,977
Julie Green Chief Human Resources Officer Aug. 15, 2026 M 168,937 0 4 $-94,977
Robert D. Allen III Chief Scientific Officer Aug. 15, 2026 M 178,765 0 4 $-87,855
Jill Andersen Chief Legal Officer, Secretary Aug. 15, 2026 M 283,774 0 4 $-158,288
Stacy Price Chief Tech. and Manuf. Officer Dec. 18, 2023 A · 0 0 $0
Peter Schmidt Chief Medical Officer Dec. 18, 2023 A · 0 0 $0
Rebecca Dabora Chief Tech and Manuf Officer Dec. 14, 2022 A · 0 0 $0
Lynn Connolly Chief Medical Officer Jan. 30, 2022 A · 0 0 $0
Elham Hershberger Chief Development Officer Jan. 30, 2022 A · 0 0 $0
Ian Sheffield Director Aug. 31, 2026 A · 0 0 $0
Tamsin Berry Director May 19, 2026 A · 0 0 $0
Ajay Royan Director May 19, 2026 A 11,241,580 0 0 $0
Paul Bolno Director May 19, 2026 A · 0 0 $0
Kevin F Mclaughlin Director May 19, 2026 A 50,000 1 0 $125,000
Terrance McGuire Director May 19, 2026 A 3,066,757 0 0 $0
Christine Lindenboom Director May 20, 2025 A · 0 0 $0
Srishti Gupta Director May 21, 2024 A · 0 0 $0
Sara Cotter Director May 21, 2024 A · 0 0 $0
Tomas J. Heyman Director May 23, 2023 A · 0 0 $0
Clive Meanwell Director May 23, 2023 A · 0 0 $0
Michael S Wyzga Director May 23, 2023 A · 0 0 $0
Redonda Miller Director June 22, 2022 A · 0 0 $0
Howard Mayer Director June 22, 2022 A · 0 0 $0
Ellen R Marram Director Nov. 19, 2021 A · 0 0 $0
Rene Russo Director Aug. 5, 2021 A · 0 0 $0
Adimab, LLC 10% owner Jan. 19, 2024 S 21,687,906 0 0 $0
Michael Mina · July 31, 2026 A · 0 0 $0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

ETF ownership Held by 13 ETFs

20

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund Weight Units As of Source
BBC · ETFis Series Trust I 0.47% 403,655 NS July 31, 2026 N-PORT
IWC · iShares Trust 0.04% 719,785 SH Sept. 11, 2026 Daily
IBBQ · Invesco Exchange-Traded Fund Trust … 0.02% 20,848 SH Oct. 2, 2026 Daily
PRFZ · Invesco Exchange-Traded Fund Trust 0.01% 405,677 SH Oct. 2, 2026 Daily
VTWO · VANGUARD SCOTTSDALE FUNDS 0.01% 1,216,850 SH Aug. 19, 2026 Daily
VTWV · VANGUARD SCOTTSDALE FUNDS 0.01% 182,982 SH Aug. 19, 2026 Daily
IWM · iShares Trust 0.01% 5,586,643 SH Sept. 11, 2026 Daily
RSSL · Global X Funds 0.00% 100,540 NS July 31, 2026 N-PORT
ITOT · iShares Trust 0.00% 589,919 SH Sept. 11, 2026 Daily
VXF · VANGUARD INDEX FUNDS 0.00% 2,434,423 SH Aug. 19, 2026 Daily
VTI · VANGUARD INDEX FUNDS 0.00% 7,785,522 SH Aug. 19, 2026 Daily
VTHR · VANGUARD SCOTTSDALE FUNDS 0.00% 17,900 SH Aug. 19, 2026 Daily
IWN · iShares Trust · 2,013,518 SH Sept. 11, 2026 Daily

IVVD Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

21
rating · 9 analysts BUY
Median target $10.00 +1116.4%
3 33.3% Strong Buy
5 55.6% Buy
1 11.1% Hold
0 0.0% Sell
0 0.0% Strong Sell

12-Month Price Target

3 analysts · 2026-09-27

Mean target $10.00 +1116.4%

Low$10.00 Mean$10.00 High$10.00

Peer comparison (GICS sub-industry) Key metrics vs sector peers

22

FY basis, prices as of each company's last fiscal year-end close.

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
IVVD $697M -8.2 110.5% -98.2% -36.9% ·
GLSI $300M -14.7 · · -2159.7% ·
QTTB $43M 1.4 · 55.5% 200.3% ·
CAMP $318M -2.3 436.5% -2298.5% -183.4% ·
EVMN $540M -1.5 85.7% -529.8% -401.2% ·
AKBA $427M -80.5 47.5% -2.3% -17.3% ·
LYEL $654M -1.9 -41.0% -762355.6% -100.3% ·
MGNX $102M -1.4 -0.31% -49.9% -87.0% ·
KROS $398M 8.9 · 35.7% 17.2% ·
RNAC $188M -1.4 -92.8% -4658.6% 202.4% ·

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26

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Source: SEC 10-Q filed Aug 13, 2026