387,493 Shares in Innoviva, Inc. $INVA Bought by Jupiter Topco LLC

Key Points

• Jupiter Topco LLC acquired 387,493 Innoviva shares in the second quarter, worth approximately $6.6 million and representing a 0.54% stake. Institutional investors collectively own 99.12% of the company.
• Analyst sentiment is mixed: three analysts rate Innoviva a Buy, one rates it Hold, and two rate it Sell. MarketBeat reports a consensus Hold rating with an average price target of $34.75.
• Innoviva shares opened at $20.97, compared with a 52-week range of $16.52 to $25.15; the company has a $1.52 billion market capitalization and a low price-to-earnings ratio of 5.11.

Jupiter Topco LLC acquired a new stake in Innoviva, Inc. (NASDAQ:INVA - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 387,493 shares of the biotechnology company's stock, valued at approximately $6,587,000. Jupiter Topco LLC owned 0.54% of Innoviva as of its most recent SEC filing.

Several other large investors have also bought and sold shares of INVA. Royal Bank of Canada grew its position in shares of Innoviva by 81.1% in the 1st quarter. Royal Bank of Canada now owns 21,530 shares of the biotechnology company's stock valued at $389,000 after buying an additional 9,639 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Innoviva by 17.8% in the first quarter. AQR Capital Management LLC now owns 167,456 shares of the biotechnology company's stock worth $3,036,000 after acquiring an additional 25,317 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Innoviva by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,882 shares of the biotechnology company's stock valued at $596,000 after acquiring an additional 1,392 shares during the last quarter. NewEdge Advisors LLC bought a new stake in Innoviva in the first quarter valued at approximately $243,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Innoviva by 21.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 171,116 shares of the biotechnology company's stock valued at $3,102,000 after purchasing an additional 30,792 shares during the period. 99.12% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on INVA shares. BTIG Research restated a "buy" rating and issued a $42.00 price target on shares of Innoviva in a research report on Monday, June 22nd. Wall Street Zen downgraded shares of Innoviva from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. HC Wainwright restated a "buy" rating and issued a $46.00 target price on shares of Innoviva in a report on Monday, June 1st. Zacks Research downgraded Innoviva from a "hold" rating to a "strong sell" rating in a report on Friday, July 31st. Finally, Cantor Fitzgerald decreased their target price on Innoviva from $36.00 to $34.00 and set an "overweight" rating for the company in a research note on Friday, August 7th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $34.75.

Innoviva Stock Performance

Shares of INVA opened at $20.97 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 16.01 and a quick ratio of 15.18. The stock has a 50-day moving average of $21.66 and a 200-day moving average of $22.37. The company has a market cap of $1.52 billion, a PE ratio of 5.11 and a beta of 0.35. Innoviva, Inc. has a one year low of $16.52 and a one year high of $25.15.

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.

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