Innoviva, Inc. $INVA Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP lessened its position in shares of Innoviva, Inc. (NASDAQ:INVA) by 67.4% during the 3rd quarter, Holdings Channel reports. The firm owned 41,916 shares of the biotechnology company’s stock after selling 86,834 shares during the quarter. Quantbot Technologies LP’s holdings in Innoviva were worth $765,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Marshall Wace LLP raised its stake in shares of Innoviva by 870.3% in the second 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 last quarter. Arrowstreet Capital Limited Partnership boosted its position in Innoviva by 85.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,708,482 shares of the biotechnology company’s stock valued at $34,323,000 after buying an additional 786,409 shares during the last quarter. American Century Companies Inc. increased its holdings in Innoviva by 23.3% in the 2nd quarter. American Century Companies Inc. now owns 2,066,753 shares of the biotechnology company’s stock worth $41,521,000 after buying an additional 391,056 shares during the period. Boston Partners raised its position in Innoviva by 40.6% during the 2nd quarter. Boston Partners now owns 875,084 shares of the biotechnology company’s stock worth $17,578,000 after buying an additional 252,534 shares during the last quarter. Finally, Bank of America Corp DE raised its position 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 buying an additional 151,957 shares during the last quarter. 99.12% of the stock is owned by institutional investors and hedge funds.

Innoviva Price Performance

NASDAQ:INVA opened at $22.03 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 14.64 and a quick ratio of 13.85. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of 7.22 and a beta of 0.42. The company has a 50 day moving average price of $21.13 and a 200-day moving average price of $20.14. Innoviva, Inc. has a 1-year low of $16.52 and a 1-year high of $25.15.

Innoviva (NASDAQ:INVA) last announced its quarterly earnings results on Wednesday, February 25th. The biotechnology company reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $1.60. The firm had revenue of $114.61 million for the quarter, compared to the consensus estimate of $102.62 million. Innoviva had a net margin of 65.92% and a return on equity of 37.63%. Equities research analysts forecast that Innoviva, Inc. will post 0.33 EPS for the current year.

Analyst Ratings Changes

INVA has been the topic of several recent research reports. BTIG Research reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Innoviva in a report on Thursday, February 26th. Weiss Ratings reissued a “buy (b)” rating on shares of Innoviva in a report on Monday, December 29th. Finally, HC Wainwright boosted their target price on shares of Innoviva from $45.00 to $46.00 and gave the company a “buy” rating in a research report on Tuesday, December 16th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Innoviva has a consensus rating of “Moderate Buy” and an average price target of $34.80.

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.