Hussman Strategic Advisors Inc. Sells 168,000 Shares of Innoviva, Inc. $INVA

Hussman Strategic Advisors Inc. lessened its position in Innoviva, Inc. (NASDAQ:INVA) by 80.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 42,000 shares of the biotechnology company’s stock after selling 168,000 shares during the period. Hussman Strategic Advisors Inc. owned about 0.07% of Innoviva worth $766,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Bank of Montreal Can raised its holdings in Innoviva by 4.2% in the 2nd quarter. Bank of Montreal Can now owns 18,853 shares of the biotechnology company’s stock worth $379,000 after acquiring an additional 767 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of Innoviva by 6.3% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 13,507 shares of the biotechnology company’s stock worth $247,000 after purchasing an additional 800 shares in the last quarter. Teacher Retirement System of Texas raised its stake in shares of Innoviva by 5.9% in the second quarter. Teacher Retirement System of Texas now owns 16,053 shares of the biotechnology company’s stock worth $323,000 after purchasing an additional 889 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Innoviva by 7.6% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,183 shares of the biotechnology company’s stock valued at $285,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Ameritas Investment Partners Inc. boosted its position in shares of Innoviva by 18.6% during the second quarter. Ameritas Investment Partners Inc. now owns 6,429 shares of the biotechnology company’s stock valued at $129,000 after buying an additional 1,007 shares during the last quarter. Hedge funds and other institutional investors own 99.12% of the company’s stock.

Wall Street Analyst Weigh In

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

Innoviva Price Performance

Shares of NASDAQ:INVA opened at $19.55 on Thursday. The company has a quick ratio of 13.33, a current ratio of 14.12 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $1.46 billion, a PE ratio of 14.27 and a beta of 0.44. The firm’s 50 day moving average price is $20.19 and its 200-day moving average price is $19.57. Innoviva, Inc. has a twelve month low of $16.52 and a twelve month high of $22.76.

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