WINTON GROUP Ltd Takes Position in Innoviva, Inc. $INVA

WINTON GROUP Ltd bought a new stake in Innoviva, Inc. (NASDAQ:INVA) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 169,851 shares of the biotechnology company’s stock, valued at approximately $3,395,000. WINTON GROUP Ltd owned 0.23% of Innoviva at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Oliver Luxxe Assets LLC purchased a new position in shares of Innoviva in the 4th quarter valued at $1,693,000. Allianz Asset Management GmbH raised its stake in shares of Innoviva by 139.2% in the 3rd quarter. Allianz Asset Management GmbH now owns 196,831 shares of the biotechnology company’s stock valued at $3,592,000 after acquiring an additional 114,549 shares during the period. Orion Porfolio Solutions LLC raised its stake in shares of Innoviva by 28.2% in the 3rd quarter. Orion Porfolio Solutions LLC now owns 101,858 shares of the biotechnology company’s stock valued at $1,859,000 after acquiring an additional 22,412 shares during the period. Jennison Associates LLC purchased a new position in shares of Innoviva in the 4th quarter valued at $928,000. Finally, Royce & Associates LP raised its stake in shares of Innoviva by 641.2% in the 3rd quarter. Royce & Associates LP now owns 505,906 shares of the biotechnology company’s stock valued at $9,233,000 after acquiring an additional 437,654 shares during the period. Hedge funds and other institutional investors own 99.12% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Innoviva in a research note on Friday, March 27th. BTIG Research reaffirmed a “buy” rating and set a $42.00 price target on shares of Innoviva in a research note on Tuesday, May 26th. Wall Street Zen raised shares of Innoviva from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, HC Wainwright reaffirmed a “buy” rating and set a $46.00 price target on shares of Innoviva in a research note on Monday, June 1st. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $36.20.

Innoviva Stock Performance

Innoviva stock opened at $22.52 on Monday. Innoviva, Inc. has a 12-month low of $16.52 and a 12-month high of $25.15. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 3.75 and a beta of 0.35. The company has a debt-to-equity ratio of 0.19, a current ratio of 21.13 and a quick ratio of 20.07. The firm’s fifty day moving average price is $22.88 and its 200 day moving average price is $21.75.

Innoviva (NASDAQ:INVA) last released 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 firm had revenue of $97.99 million for the quarter, compared to the consensus estimate of $101.57 million. Innoviva had a net margin of 119.89% and a return on equity of 33.33%. On average, research analysts forecast that Innoviva, Inc. will post 2.23 EPS for the current fiscal year.

Innoviva 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.