CWA Asset Management Group LLC Has $916,000 Stake in Innoviva, Inc. (NASDAQ:INVA)

CWA Asset Management Group LLC raised its holdings in Innoviva, Inc. (NASDAQ:INVA - Free Report) by 31.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 50,542 shares of the biotechnology company's stock after purchasing an additional 12,187 shares during the period. CWA Asset Management Group LLC owned approximately 0.08% of Innoviva worth $916,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Rhumbline Advisers boosted its stake in shares of Innoviva by 2.1% in the fourth quarter. Rhumbline Advisers now owns 187,318 shares of the biotechnology company's stock valued at $3,250,000 after buying an additional 3,931 shares during the period. Principal Financial Group Inc. lifted its position in shares of Innoviva by 3.8% during the 4th quarter. Principal Financial Group Inc. now owns 297,776 shares of the biotechnology company's stock valued at $5,166,000 after acquiring an additional 10,999 shares during the period. Hussman Strategic Advisors Inc. grew its holdings in shares of Innoviva by 33.3% during the 4th quarter. Hussman Strategic Advisors Inc. now owns 168,000 shares of the biotechnology company's stock worth $2,915,000 after purchasing an additional 42,000 shares in the last quarter. Illinois Municipal Retirement Fund grew its holdings in shares of Innoviva by 2.8% during the 4th quarter. Illinois Municipal Retirement Fund now owns 29,066 shares of the biotechnology company's stock worth $504,000 after purchasing an additional 784 shares in the last quarter. Finally, QRG Capital Management Inc. increased its position in shares of Innoviva by 4.4% in the fourth quarter. QRG Capital Management Inc. now owns 89,709 shares of the biotechnology company's stock worth $1,556,000 after purchasing an additional 3,769 shares during the period. Institutional investors and hedge funds own 99.12% of the company's stock.

Wall Street Analysts Forecast Growth

INVA has been the subject of several recent analyst reports. Wall Street Zen raised shares of Innoviva from a "hold" rating to a "buy" rating in a research report on Wednesday, April 30th. Scotiabank assumed coverage on shares of Innoviva in a report on Friday, March 7th. They set a "sector outperform" rating and a $55.00 price target for the company.

Innoviva Price Performance

Shares of INVA traded down $0.46 during midday trading on Friday, hitting $21.00. The company's stock had a trading volume of 1,218,207 shares, compared to its average volume of 685,065. The company has a quick ratio of 2.30, a current ratio of 2.48 and a debt-to-equity ratio of 0.40. Innoviva, Inc. has a one year low of $15.70 and a one year high of $22.00. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of -20.79 and a beta of 0.37. The company's fifty day simple moving average is $19.33 and its two-hundred day simple moving average is $18.43.

Innoviva (NASDAQ:INVA - Get Free Report) last released its earnings results on Wednesday, May 7th. The biotechnology company reported $0.25 earnings per share (EPS) for the quarter. The firm had revenue of $88.63 million for the quarter. Innoviva had a positive return on equity of 15.77% and a negative net margin of 16.15%. As a group, 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.