Allianz Asset Management GmbH Grows Stake in Innoviva, Inc. $INVA

Allianz Asset Management GmbH grew its holdings in shares of Innoviva, Inc. (NASDAQ:INVA) by 139.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 196,831 shares of the biotechnology company’s stock after buying an additional 114,549 shares during the period. Allianz Asset Management GmbH’s holdings in Innoviva were worth $3,592,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans increased its position in Innoviva by 6.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 43,192 shares of the biotechnology company’s stock valued at $788,000 after purchasing an additional 2,572 shares during the period. AlphaQuest LLC boosted its stake in shares of Innoviva by 31.3% during the 3rd quarter. AlphaQuest LLC now owns 45,854 shares of the biotechnology company’s stock valued at $837,000 after purchasing an additional 10,933 shares in the last quarter. Summit Global Investments purchased a new position in shares of Innoviva during the third quarter valued at about $210,000. James Investment Research Inc. increased its position in shares of Innoviva by 18.1% during the third quarter. James Investment Research Inc. now owns 77,157 shares of the biotechnology company’s stock valued at $1,408,000 after buying an additional 11,812 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Innoviva in the third quarter worth about $607,000. Hedge funds and other institutional investors own 99.12% of the company’s stock.

Innoviva Stock Performance

NASDAQ:INVA opened at $21.84 on Wednesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 13.33 and a current ratio of 14.12. The stock has a 50-day simple moving average of $20.14 and a two-hundred day simple moving average of $19.67. The firm has a market capitalization of $1.63 billion, a PE ratio of 15.94 and a beta of 0.44. Innoviva, Inc. has a 52-week low of $16.52 and a 52-week high of $22.76.

Wall Street Analyst Weigh In

INVA has been the topic of a number of research analyst reports. Cantor Fitzgerald upped their target price on Innoviva from $29.00 to $31.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Wall Street Zen upgraded Innoviva from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 25th. Weiss Ratings reiterated a “buy (b)” rating on shares of Innoviva in a report on Monday, December 29th. HC Wainwright upped their target price on shares of Innoviva from $45.00 to $46.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. Finally, Zacks Research downgraded shares of Innoviva from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 6th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.80.

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.