Assetmark Inc. Raises Stock Position in Innoviva, Inc. (NASDAQ:INVA)

Assetmark Inc. lifted its position in shares of Innoviva, Inc. (NASDAQ:INVA) by 4.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 154,890 shares of the biotechnology company’s stock after buying an additional 7,168 shares during the quarter. Assetmark Inc.’s holdings in Innoviva were worth $2,991,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its holdings in shares of Innoviva by 369.6% in the 2nd quarter. American Century Companies Inc. now owns 459,690 shares of the biotechnology company’s stock valued at $7,539,000 after purchasing an additional 361,797 shares during the last quarter. Boston Partners raised its stake in shares of Innoviva by 90.3% during the first quarter. Boston Partners now owns 391,456 shares of the biotechnology company’s stock valued at $5,966,000 after purchasing an additional 185,784 shares during the period. Marshall Wace LLP lifted its holdings in Innoviva by 823.3% in the 2nd quarter. Marshall Wace LLP now owns 204,752 shares of the biotechnology company’s stock worth $3,358,000 after buying an additional 182,575 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of Innoviva in the second quarter worth about $2,198,000. Finally, Denali Advisors LLC boosted its stake in shares of Innoviva by 34.9% during the 2nd quarter. Denali Advisors LLC now owns 439,786 shares of the biotechnology company’s stock valued at $7,212,000 after buying an additional 113,700 shares during the last quarter. Institutional investors and hedge funds own 99.12% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on INVA. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Innoviva in a research report on Tuesday, July 30th. StockNews.com downgraded shares of Innoviva from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 6th.

Innoviva Stock Down 1.1 %

Shares of INVA stock opened at $20.10 on Thursday. The stock has a market cap of $1.26 billion, a PE ratio of 29.13 and a beta of 0.57. Innoviva, Inc. has a 1 year low of $13.41 and a 1 year high of $21.28. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.64 and a current ratio of 1.79. The business’s fifty day moving average is $19.65 and its 200-day moving average is $17.92.

Innoviva (NASDAQ:INVA) last posted its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.25). The firm had revenue of $89.51 million for the quarter. Innoviva had a return on equity of 20.84% and a net margin of 18.31%. Equities analysts expect that Innoviva, Inc. will post 0.33 earnings per share for the current fiscal year.

About Innoviva

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.