27,858 Shares in Innoviva, Inc. $INVA Bought by Jupiter Topco LLC

Jupiter Topco LLC purchased a new stake in shares of Innoviva, Inc. (NASDAQ:INVA) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 27,858 shares of the biotechnology company’s stock, valued at approximately $633,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Chase Investment Counsel Corp acquired a new stake in shares of Innoviva during the 2nd quarter valued at about $1,589,000. Bank of America Corp DE raised its holdings in Innoviva by 6.6% in the 1st quarter. Bank of America Corp DE now owns 1,619,994 shares of the biotechnology company’s stock worth $37,746,000 after purchasing an additional 100,791 shares during the period. Hsbc Holdings PLC purchased a new position in Innoviva during the second quarter worth approximately $843,000. Dimensional Fund Advisors LP grew its holdings in Innoviva by 1.7% in the first quarter. Dimensional Fund Advisors LP now owns 4,436,427 shares of the biotechnology company’s stock valued at $103,366,000 after purchasing an additional 76,026 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in Innoviva by 23.5% in the first quarter. Principal Financial Group Inc. now owns 418,731 shares of the biotechnology company’s stock valued at $9,756,000 after purchasing an additional 79,625 shares during the period. Hedge funds and other institutional investors own 99.12% of the company’s stock.

Innoviva Stock Performance

Shares of INVA stock opened at $21.33 on Monday. Innoviva, Inc. has a fifty-two week low of $16.52 and a fifty-two week high of $25.15. The company has a debt-to-equity ratio of 0.21, a quick ratio of 15.18 and a current ratio of 16.01. The stock’s fifty day moving average is $21.44 and its two-hundred day moving average is $22.33. The firm has a market capitalization of $1.54 billion, a P/E ratio of 5.20 and a beta of 0.33.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Cantor Fitzgerald reduced their target price on Innoviva from $36.00 to $34.00 and set an “overweight” rating for the company in a research note on Friday, August 7th. BTIG Research reissued a “buy” rating and issued a $42.00 price target on shares of Innoviva in a report on Monday, June 22nd. Wall Street Zen cut shares of Innoviva from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. HC Wainwright reaffirmed a “buy” rating and set a $46.00 price objective on shares of Innoviva in a report on Monday, June 1st. Finally, Zacks Research upgraded shares of Innoviva from a “strong sell” rating to a “hold” rating in a research report on Monday, August 31st. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $34.75.

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.