62,184 Shares in Innoviva, Inc. $INVA Purchased by Fluent Financial LLC

Fluent Financial LLC bought a new position in shares of Innoviva, Inc. (NASDAQ:INVA) during the third quarter, HoldingsChannel reports. The institutional investor bought 62,184 shares of the biotechnology company’s stock, valued at approximately $1,319,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Parallel Advisors LLC grew its holdings in Innoviva by 82.8% during the 1st quarter. Parallel Advisors LLC now owns 1,179 shares of the biotechnology company’s stock valued at $27,000 after purchasing an additional 534 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in Innoviva in the 2nd quarter worth $30,000. Versant Capital Management Inc lifted its holdings in Innoviva by 96.5% in the 3rd quarter. Versant Capital Management Inc now owns 1,916 shares of the biotechnology company’s stock worth $41,000 after buying an additional 941 shares in the last quarter. Allworth Financial LP purchased a new position in Innoviva in the 2nd quarter valued at about $42,000. Finally, Mint Tower Capital Management B.V. purchased a new position in Innoviva in the 2nd quarter valued at about $47,000. 99.12% of the stock is currently owned by hedge funds and other institutional investors.

Innoviva Stock Down 3.3%

NASDAQ INVA traded down $0.71 during trading hours on Tuesday, reaching $20.74. 811,562 shares of the company traded hands, compared to its average volume of 784,615. The stock has a market capitalization of $1.50 billion, a PE ratio of 5.06, a PEG ratio of 3.06 and a beta of 0.38. The company has a current ratio of 16.01, a quick ratio of 15.18 and a debt-to-equity ratio of 0.21. Innoviva, Inc. has a 12 month low of $16.52 and a 12 month high of $25.15. The company has a 50 day moving average of $20.97 and a two-hundred day moving average of $22.01.

Wall Street Analysts Forecast Growth

INVA has been the subject of several recent analyst reports. BTIG Research restated a “buy” rating and set a $42.00 target price on shares of Innoviva in a research note on Monday, June 22nd. Cantor Fitzgerald cut their price target on Innoviva from $36.00 to $34.00 and set an “overweight” rating on the stock in a research note on Friday, August 7th. Zacks Research raised Innoviva from a “strong sell” rating to a “hold” rating in a report on Monday, August 31st. Wall Street Zen lowered Innoviva from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Oppenheimer assumed coverage on Innoviva in a report on Wednesday, September 23rd. They set an “outperform” rating and a $35.00 price objective on the stock. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $39.25.

About Innoviva

Innoviva, Inc is a healthcare company focused on acquiring, developing and commercializing pharmaceutical assets, with a particular emphasis on medicines for respiratory and infectious diseases. The company generates a substantial portion of its business through royalty interests in marketed products and also invests in healthcare companies and development-stage therapies.

Innoviva holds royalty rights related to several respiratory medicines developed in collaboration with GlaxoSmithKline, including Trelegy Ellipta, Anoro Ellipta and Breo Ellipta, which is marketed as Relvar Ellipta in some international markets.