China Universal Asset Management Co. Ltd. Buys 4,698 Shares of Innoviva, Inc. (NASDAQ:INVA)

China Universal Asset Management Co. Ltd. grew its stake in shares of Innoviva, Inc. (NASDAQ:INVA) by 64.0% in the third quarter, HoldingsChannel.com reports. The fund owned 12,033 shares of the biotechnology company’s stock after acquiring an additional 4,698 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Innoviva were worth $232,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. EdgeRock Capital LLC bought a new stake in Innoviva during the second quarter worth about $31,000. Bessemer Group Inc. raised its position in shares of Innoviva by 333.5% in the 1st quarter. Bessemer Group Inc. now owns 2,211 shares of the biotechnology company’s stock valued at $33,000 after buying an additional 1,701 shares in the last quarter. Innealta Capital LLC bought a new stake in shares of Innoviva during the 2nd quarter worth approximately $33,000. GAMMA Investing LLC lifted its stake in Innoviva by 53.7% during the second quarter. GAMMA Investing LLC now owns 3,476 shares of the biotechnology company’s stock worth $57,000 after purchasing an additional 1,214 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Innoviva in the first quarter valued at about $138,000. 99.12% of the stock is owned by institutional investors and hedge funds.

Innoviva Price Performance

Shares of NASDAQ:INVA opened at $19.71 on Thursday. The firm has a market cap of $1.23 billion, a PE ratio of 11.95 and a beta of 0.57. The company has a debt-to-equity ratio of 0.67, a quick ratio of 11.40 and a current ratio of 12.70. Innoviva, Inc. has a 52 week low of $12.22 and a 52 week high of $20.37. The firm’s fifty day moving average is $19.50 and its 200-day moving average is $17.56.

Innoviva (NASDAQ:INVA) last released its quarterly earnings results on Wednesday, July 31st. The biotechnology company reported $0.68 earnings per share (EPS) for the quarter. Innoviva had a net margin of 44.00% and a return on equity of 33.26%. The firm had revenue of $99.90 million during the quarter. Sell-side analysts predict that Innoviva, Inc. will post 0.5 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on INVA. Cantor Fitzgerald restated an “overweight” rating on shares of Innoviva in a research report on Tuesday, July 30th. StockNews.com cut Innoviva from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 6th.

Innoviva Profile

Innoviva, Inc engages in the development and commercialization of pharmaceutical products in the United States and internationally. The company’s products include RELVAR/BREO ELLIPTA, a once-daily combination medicine consisting of a LABA, vilanterol (VI), an inhaled corticosteroid (ICS), and fluticasone furoate; ANORO ELLIPTA, a once-daily medicine combining a long-acting muscarinic antagonist (LAMA) and umeclidinium bromide (UMEC) with a LABA, VI; GIAPREZA (angiotensin II), a vasoconstrictor to increase blood pressure in adults with septic or other distributive shock; XERAVA (eravacycline) for the treatment of complicated intra-abdominal infections in adults; and XACDURO, a beta lactamase inhibitor for the treatment of hospital-acquired bacterial pneumonia and ventilator-associated bacterial pneumonia.