Vise Technologies Inc. acquired a new position in shares of Innoviva, Inc. (NASDAQ:INVA – Free Report) in the 2nd quarter, Holdings Channel reports. The fund acquired 28,057 shares of the biotechnology company’s stock, valued at approximately $637,000.
Other institutional investors also recently modified their holdings of the company. NewEdge Wealth LLC purchased a new stake in Innoviva in the second quarter valued at approximately $2,257,000. BlackRock Inc. bought a new stake in Innoviva during the second quarter valued at approximately $77,562,000. Deutsche Bank AG purchased a new position in Innoviva in the 2nd quarter worth approximately $697,000. Chase Investment Counsel Corp purchased a new position in Innoviva in the 2nd quarter worth approximately $1,589,000. Finally, Bank of New York Mellon Corp purchased a new position in Innoviva in the 2nd quarter worth approximately $2,053,000. 99.12% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several 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 research report on Saturday, August 1st. Cantor Fitzgerald cut their target price on shares of Innoviva from $36.00 to $34.00 and set an “overweight” rating for the company in a research report on Friday, August 7th. HC Wainwright reissued a “buy” rating and issued a $46.00 target price on shares of Innoviva in a research note on Monday, June 1st. BTIG Research restated a “buy” rating and set a $42.00 price target on shares of Innoviva in a research report on Monday, June 22nd. Finally, Zacks Research cut Innoviva from a “hold” rating to a “strong sell” rating in a report on Friday, July 31st. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Innoviva has an average rating of “Hold” and an average target price of $34.75.
Innoviva Stock Performance
INVA stock opened at $21.07 on Monday. The company has a market capitalization of $1.52 billion, a PE ratio of 5.14 and a beta of 0.35. The company has a debt-to-equity ratio of 0.21, a quick ratio of 15.18 and a current ratio of 16.01. Innoviva, Inc. has a one year low of $16.52 and a one year high of $25.15. The company’s 50 day moving average price is $21.80 and its two-hundred day moving average price is $22.38.
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.
Featured Stories
- Five stocks we like better than Innoviva
- VIG, VYM, and VYMI: Which Vanguard Dividend ETF Is Right for You?
- 3 Closed-End Funds to Maximize Dividend Payments
- Rocket Lab’s Sell-Off Is Fading—Is It Finally Safe to Buy?
- $27 Billion in Buybacks: 3 Stocks Betting Their Strong Runs Aren’t Over
Want to see what other hedge funds are holding INVA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Innoviva, Inc. (NASDAQ:INVA – Free Report).
Receive News & Ratings for Innoviva Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Innoviva and related companies with MarketBeat.com's FREE daily email newsletter.
