33,280 Shares in Innoviva, Inc. $INVA Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd purchased a new stake in Innoviva, Inc. (NASDAQ:INVA) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 33,280 shares of the biotechnology company’s stock, valued at approximately $607,000.

Several other institutional investors and hedge funds also recently made changes to their positions in INVA. American Century Companies Inc. raised its position in shares of Innoviva by 23.3% during the second quarter. American Century Companies Inc. now owns 2,066,753 shares of the biotechnology company’s stock worth $41,521,000 after acquiring an additional 391,056 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in Innoviva by 85.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,708,482 shares of the biotechnology company’s stock valued at $34,323,000 after purchasing an additional 786,409 shares during the period. Bank of America Corp DE raised its holdings in Innoviva by 10.9% during the 2nd quarter. Bank of America Corp DE now owns 1,545,249 shares of the biotechnology company’s stock worth $31,044,000 after purchasing an additional 151,957 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Innoviva by 7.2% in the 2nd quarter. Geode Capital Management LLC now owns 1,522,622 shares of the biotechnology company’s stock worth $30,593,000 after purchasing an additional 102,194 shares during the period. Finally, Marshall Wace LLP lifted its position in shares of Innoviva by 870.3% in the 2nd quarter. Marshall Wace LLP now owns 1,332,966 shares of the biotechnology company’s stock worth $26,779,000 after purchasing an additional 1,195,596 shares during the period. Institutional investors and hedge funds own 99.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on INVA. Cantor Fitzgerald increased their price objective on shares of Innoviva from $29.00 to $31.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Zacks Research downgraded Innoviva from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 6th. Wall Street Zen raised Innoviva from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 25th. HC Wainwright upped their target price on Innoviva from $45.00 to $46.00 and gave the company a “buy” rating in a research report on Tuesday, December 16th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Innoviva in a research note on Monday, December 29th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.80.

Innoviva Price Performance

Shares of NASDAQ INVA opened at $21.00 on Wednesday. The firm has a market capitalization of $1.57 billion, a P/E ratio of 15.33 and a beta of 0.44. The firm’s 50-day moving average price is $20.12 and its 200-day moving average price is $19.59. The company has a current ratio of 14.12, a quick ratio of 13.33 and a debt-to-equity ratio of 0.25. Innoviva, Inc. has a 1-year low of $16.52 and a 1-year high of $22.76.

Innoviva (NASDAQ:INVA) last issued its earnings results on Wednesday, November 5th. The biotechnology company reported $1.08 EPS for the quarter, beating the consensus estimate of $0.46 by $0.62. Innoviva had a return on equity of 28.17% and a net margin of 32.78%.The company had revenue of $107.80 million during the quarter, compared to the consensus estimate of $91.31 million. Equities research analysts anticipate that Innoviva, Inc. will post 0.33 earnings per share for the current fiscal year.

About Innoviva

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.