INVO Fertility Heads Into Q1 Print After a Brutal Month

IVF arrives at its April 30 earnings with the stock down 28% over the past month — a selloff that has reset the bar sharply lower but has also driven a notable shift in borrowing conditions.

The most interesting angle heading into this print is the cost-to-borrow narrative. Borrowing costs have more than halved since mid-March, falling from a peak of around 163% annualised to roughly 55% now — a meaningful easing in a stock that was, until recently, among the most expensive names to short in its peer group. That easing reflects a sharp drop in short interest itself: shares short collapsed roughly 75% through the middle of April, though they have since crept back up about 34% over the past week to sit near 96,000 shares. At just 0.6% of the free float, the short position is not large in absolute terms. The lending pool is far from exhausted — availability is not a constraint here. What stands out instead is the volatility of the positioning, which swung from roughly 430,000 shares short in late March to under 70,000 shares in mid-April, a dislocation that suggests forced covering rather than a deliberate unwind.

Earnings history offers the starkest framing for what this print could produce. All four prior events on record resulted in a negative one-day move — averaging a loss of around 12% on the day, with the worst print in January 2026 delivering an 18.9% one-day drop followed by a 29.9% five-day loss. The November 2025 reading was similarly punishing at –10.6% on the day and –33.2% over the following week. The stock has never, in recent history, rewarded buyers on earnings day. That pattern sits against a price already under pressure at $1.92, down 15% on the week alone.