Sei Investments Co. Has $3.06 Million Position in Innoviva, Inc. $INVA

Sei Investments Co. boosted its stake in shares of Innoviva, Inc. (NASDAQ:INVA) by 50.7% during the first quarter, HoldingsChannel.com reports. The firm owned 131,205 shares of the biotechnology company’s stock after acquiring an additional 44,142 shares during the period. Sei Investments Co.’s holdings in Innoviva were worth $3,057,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Jennison Associates LLC purchased a new position in Innoviva in the fourth quarter valued at about $928,000. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in shares of Innoviva by 49.9% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 173,119 shares of the biotechnology company’s stock worth $3,457,000 after purchasing an additional 57,616 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in shares of Innoviva during the 4th quarter valued at about $6,428,000. Dimensional Fund Advisors LP lifted its holdings in shares of Innoviva by 1.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,436,427 shares of the biotechnology company’s stock valued at $103,366,000 after buying an additional 76,026 shares during the last quarter. Finally, Hussman Strategic Advisors Inc. grew its stake in shares of Innoviva by 150.0% in the 4th quarter. Hussman Strategic Advisors Inc. now owns 105,000 shares of the biotechnology company’s stock valued at $2,099,000 after buying an additional 63,000 shares in the last quarter. Institutional investors and hedge funds own 99.12% of the company’s stock.

Innoviva Stock Down 2.8%

INVA stock opened at $20.51 on Friday. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of 5.00 and a beta of 0.35. The company has a 50-day moving average of $22.05 and a two-hundred day moving average of $22.28. Innoviva, Inc. has a 52-week low of $16.52 and a 52-week high of $25.15. The company has a debt-to-equity ratio of 0.21, a current ratio of 16.01 and a quick ratio of 20.07.

Innoviva (NASDAQ:INVA) last posted its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $0.44 EPS for the quarter, topping 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 business had revenue of $97.99 million for the quarter, compared to analyst estimates of $101.57 million. As a group, equities research analysts anticipate that Innoviva, Inc. will post 2.2 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Wall Street Zen lowered shares of Innoviva from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. HC Wainwright reissued a “buy” rating and issued a $46.00 target price on shares of Innoviva in a research report on Monday, June 1st. Cantor Fitzgerald dropped their price target on shares of Innoviva from $36.00 to $34.00 and set an “overweight” rating on the stock in a research note on Friday. Zacks Research downgraded shares of Innoviva from a “hold” rating to a “strong sell” rating in a report on Friday, July 31st. Finally, BTIG Research reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Innoviva in a research note on Monday, June 22nd. Five research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Innoviva presently has a consensus rating of “Hold” and a consensus target price of $36.80.

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.