Innoviva, Inc. $INVA Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lessened its stake in Innoviva, Inc. (NASDAQ:INVA) by 78.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,160 shares of the biotechnology company’s stock after selling 40,016 shares during the quarter. SG Americas Securities LLC’s holdings in Innoviva were worth $260,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Royal Bank of Canada raised its stake in Innoviva by 81.1% during the first quarter. Royal Bank of Canada now owns 21,530 shares of the biotechnology company’s stock valued at $389,000 after buying an additional 9,639 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Innoviva by 17.8% in the 1st quarter. AQR Capital Management LLC now owns 167,456 shares of the biotechnology company’s stock worth $3,036,000 after acquiring an additional 25,317 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Innoviva by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,882 shares of the biotechnology company’s stock worth $596,000 after acquiring an additional 1,392 shares in the last quarter. NewEdge Advisors LLC bought a new stake in shares of Innoviva in the 1st quarter valued at approximately $243,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Innoviva by 21.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 171,116 shares of the biotechnology company’s stock valued at $3,102,000 after acquiring an additional 30,792 shares in the last quarter. 99.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on INVA. HC Wainwright reaffirmed a “buy” rating and issued a $46.00 price objective on shares of Innoviva in a report on Monday, June 1st. Wall Street Zen raised shares of Innoviva from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. BTIG Research reaffirmed a “buy” rating and issued a $42.00 price target on shares of Innoviva in a report on Monday, June 22nd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Innoviva in a report on Wednesday, June 24th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Innoviva currently has an average rating of “Moderate Buy” and an average price target of $36.20.

Innoviva Stock Up 0.2%

Shares of Innoviva stock opened at $22.24 on Friday. The company has a current ratio of 21.13, a quick ratio of 20.07 and a debt-to-equity ratio of 0.19. The business’s 50 day simple moving average is $22.46 and its 200-day simple moving average is $22.05. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of 3.70 and a beta of 0.34. Innoviva, Inc. has a twelve month low of $16.52 and a twelve month high of $25.15.

Innoviva (NASDAQ:INVA) last announced its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.01. The business had revenue of $97.99 million for the quarter, compared to the consensus estimate of $101.57 million. Innoviva had a return on equity of 33.33% and a net margin of 119.89%. Equities research analysts forecast that Innoviva, Inc. will post 2.2 earnings per share for the current year.

Innoviva Company Profile

Innoviva, Inc, incorporated in Delaware and headquartered in San Francisco, California, is a royalty-focused life sciences company. It acquires, manages and monetizes royalty and license interests in biopharmaceutical products, with a primary emphasis on inhaled respiratory therapies. Innoviva’s portfolio is anchored by royalties on therapies originally developed by its former affiliate, now marketed by GlaxoSmithKline, including several long-acting inhaled products approved for chronic obstructive pulmonary disease (COPD) and asthma.

The company was established through a spin‐out transaction in 2014, separating the royalty assets from a research‐based biopharmaceutical enterprise to create a specialized investment vehicle.