WINTON GROUP Ltd Invests $3.40 Million in Innoviva, Inc. $INVA

WINTON GROUP Ltd bought a new position in Innoviva, Inc. (NASDAQ:INVA) in the 4th quarter, Holdings Channel.com reports. The fund bought 169,851 shares of the biotechnology company’s stock, valued at approximately $3,395,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Oliver Luxxe Assets LLC bought a new stake in shares of Innoviva in the 4th quarter worth about $1,693,000. Allianz Asset Management GmbH increased its position in shares of Innoviva by 139.2% in the 3rd quarter. Allianz Asset Management GmbH now owns 196,831 shares of the biotechnology company’s stock worth $3,592,000 after purchasing an additional 114,549 shares during the last quarter. Orion Porfolio Solutions LLC boosted its holdings in shares of Innoviva by 28.2% in the 3rd quarter. Orion Porfolio Solutions LLC now owns 101,858 shares of the biotechnology company’s stock valued at $1,859,000 after buying an additional 22,412 shares during the period. Jennison Associates LLC acquired a new position in shares of Innoviva in the 4th quarter valued at about $928,000. Finally, Royce & Associates LP boosted its holdings in shares of Innoviva by 641.2% in the 3rd quarter. Royce & Associates LP now owns 505,906 shares of the biotechnology company’s stock valued at $9,233,000 after buying an additional 437,654 shares during the period. Institutional investors own 99.12% of the company’s stock.

Innoviva Stock Performance

NASDAQ:INVA opened at $22.52 on Monday. Innoviva, Inc. has a 12-month low of $16.52 and a 12-month high of $25.15. The firm has a market capitalization of $1.66 billion, a P/E ratio of 3.75 and a beta of 0.35. The company has a debt-to-equity ratio of 0.19, a current ratio of 21.13 and a quick ratio of 20.07. The business has a 50 day simple moving average of $22.88 and a 200 day simple moving average of $21.75.

Innoviva (NASDAQ:INVA) last released its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Innoviva had a return on equity of 33.33% and a net margin of 119.89%.The business had revenue of $97.99 million during the quarter, compared to analyst estimates of $101.57 million. Equities research analysts predict that Innoviva, Inc. will post 2.23 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $46.00 price target on shares of Innoviva in a report on Monday, June 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Innoviva in a report on Friday, March 27th. Wall Street Zen raised shares of Innoviva from a “hold” rating to a “buy” rating in a report on Saturday. Finally, BTIG Research reaffirmed a “buy” rating and issued a $42.00 price target on shares of Innoviva in a report on Tuesday, May 26th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Innoviva presently has a consensus rating of “Moderate Buy” and an average price target of $36.20.

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.