UBS Group AG Lowers Holdings in Innoviva, Inc. $INVA

UBS Group AG cut its position in Innoviva, Inc. (NASDAQ:INVA) by 11.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 508,178 shares of the biotechnology company’s stock after selling 64,190 shares during the quarter. UBS Group AG owned about 0.68% of Innoviva worth $10,158,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of INVA. Oliver Luxxe Assets LLC bought a new stake in shares of Innoviva during the 4th quarter worth $1,693,000. Allianz Asset Management GmbH grew its position in Innoviva by 139.2% in the third quarter. Allianz Asset Management GmbH now owns 196,831 shares of the biotechnology company’s stock worth $3,592,000 after acquiring an additional 114,549 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Innoviva in the third quarter worth $607,000. Royce & Associates LP raised its position in Innoviva by 641.2% during the third quarter. Royce & Associates LP now owns 505,906 shares of the biotechnology company’s stock valued at $9,233,000 after purchasing an additional 437,654 shares in the last quarter. Finally, Orion Porfolio Solutions LLC raised its position in Innoviva by 28.2% during the third quarter. Orion Porfolio Solutions LLC now owns 101,858 shares of the biotechnology company’s stock valued at $1,859,000 after purchasing an additional 22,412 shares in the last quarter. 99.12% of the stock is currently owned by hedge funds and other institutional investors.

Innoviva Price Performance

Shares of NASDAQ:INVA opened at $21.97 on Friday. The company has a quick ratio of 20.07, a current ratio of 21.13 and a debt-to-equity ratio of 0.19. The stock has a market cap of $1.62 billion, a PE ratio of 3.66 and a beta of 0.38. The company’s fifty day moving average is $22.91 and its 200 day moving average is $21.51. Innoviva, Inc. has a 52 week low of $16.52 and a 52 week high of $25.15.

Innoviva (NASDAQ:INVA) last posted its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. The business had revenue of $97.99 million during the quarter, compared to the consensus estimate of $101.57 million. Innoviva had a net margin of 119.89% and a return on equity of 33.33%. Research analysts anticipate that Innoviva, Inc. will post 1.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

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