Innoviva, Inc. $INVA Shares Purchased by Sei Investments Co.

Sei Investments Co. raised its stake in Innoviva, Inc. (NASDAQ:INVA) by 50.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 131,205 shares of the biotechnology company’s stock after buying an additional 44,142 shares during the quarter. Sei Investments Co. owned approximately 0.18% of Innoviva worth $3,057,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Parallel Advisors LLC lifted its position in Innoviva by 82.8% in 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 during the last quarter. EverSource Wealth Advisors LLC grew its position in Innoviva by 297.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,398 shares of the biotechnology company’s stock worth $48,000 after purchasing an additional 1,795 shares during the last quarter. Danske Bank A S acquired a new stake in shares of Innoviva in the third quarter valued at approximately $55,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Innoviva by 49.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,633 shares of the biotechnology company’s stock valued at $73,000 after buying an additional 1,197 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new stake in shares of Innoviva during the second quarter valued at approximately $92,000. Institutional investors and hedge funds own 99.12% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on INVA. Weiss Ratings restated a “buy (b)” rating on shares of Innoviva in a research report on Wednesday, June 24th. HC Wainwright reissued a “buy” rating and issued a $46.00 price target on shares of Innoviva in a research note on Monday, June 1st. Zacks Research lowered Innoviva from a “hold” rating to a “strong sell” rating in a report on Friday, July 31st. Cantor Fitzgerald cut their price objective on shares of Innoviva from $36.00 to $34.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, BTIG Research reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Innoviva in a report on Monday, June 22nd. Five equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $36.80.

Innoviva Trading Down 2.8%

NASDAQ INVA opened at $20.51 on Friday. The firm’s 50 day moving average price is $22.05 and its two-hundred day moving average price is $22.28. The company has a debt-to-equity ratio of 0.21, a quick ratio of 20.07 and a current ratio of 16.01. Innoviva, Inc. has a twelve month low of $16.52 and a twelve month high of $25.15. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of 5.00 and a beta of 0.35.

Innoviva (NASDAQ:INVA) last released its earnings results on Wednesday, May 6th. The biotechnology company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Innoviva had a return on equity of 28.03% and a net margin of 81.19%.The company had revenue of $97.99 million during the quarter, compared to analyst estimates of $101.57 million. Equities analysts anticipate that Innoviva, Inc. will post 2.2 EPS for the current 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.