UBS Group AG Decreases Stock Holdings in Innoviva, Inc. $INVA

UBS Group AG trimmed its position in Innoviva, Inc. (NASDAQ:INVA) by 11.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 508,178 shares of the biotechnology company’s stock after selling 64,190 shares during the quarter. UBS Group AG’s holdings in Innoviva were worth $10,158,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Creative Planning raised its holdings in Innoviva by 0.8% in the third quarter. Creative Planning now owns 61,365 shares of the biotechnology company’s stock worth $1,120,000 after buying an additional 461 shares during the last quarter. Verition Fund Management LLC raised its holdings in Innoviva by 0.3% in the third quarter. Verition Fund Management LLC now owns 175,855 shares of the biotechnology company’s stock worth $3,209,000 after buying an additional 527 shares during the last quarter. Vise Technologies Inc. raised its holdings in Innoviva by 6.1% in the third quarter. Vise Technologies Inc. now owns 12,581 shares of the biotechnology company’s stock worth $230,000 after buying an additional 724 shares during the last quarter. Yousif Capital Management LLC raised its holdings in Innoviva by 4.0% in the fourth quarter. Yousif Capital Management LLC now owns 19,492 shares of the biotechnology company’s stock worth $381,000 after buying an additional 752 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its holdings in Innoviva by 6.3% in the third quarter. Oregon Public Employees Retirement Fund now owns 13,507 shares of the biotechnology company’s stock worth $247,000 after buying an additional 800 shares during the last quarter. Hedge funds and other institutional investors own 99.12% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on INVA shares. Wall Street Zen cut shares of Innoviva from a “buy” rating to a “hold” rating in a report on Sunday. Weiss Ratings reissued a “buy (b)” rating on shares of Innoviva in a report on Friday, March 27th. Finally, BTIG Research boosted their price objective on shares of Innoviva from $35.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $36.20.

Innoviva Stock Down 3.9%

Shares of INVA stock opened at $21.97 on Friday. Innoviva, Inc. has a 12 month low of $16.52 and a 12 month high of $25.15. The stock has a market cap of $1.62 billion, a P/E ratio of 3.66 and a beta of 0.38. The company has a current ratio of 21.13, a quick ratio of 20.07 and a debt-to-equity ratio of 0.19. The company has a 50 day simple moving average of $22.91 and a two-hundred day simple moving average of $21.51.

Innoviva (NASDAQ:INVA) last announced its earnings results on Wednesday, May 6th. The biotechnology company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Innoviva had a net margin of 119.89% and a return on equity of 33.33%. The business had revenue of $97.99 million during the quarter, compared to analysts’ expectations of $101.57 million. On average, research analysts expect that Innoviva, Inc. will post 1.96 earnings per share for the current year.

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.