Deutsche Bank AG Invests $20.85 Million in Innoviva, Inc. $INVA

Key Points

• Deutsche Bank acquired 917,961 Innoviva shares worth approximately $20.85 million in the second quarter, representing about 1.24% ownership. Institutional investors and hedge funds 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. The consensus rating is Hold, with an average price target of $34.75.
• Innoviva shares opened at $21.07, while the company reported a $1.52 billion market capitalization, a 5.14 price-to-earnings ratio, and a 52-week trading range of $16.52 to $25.15.

Deutsche Bank AG purchased a new position in shares of Innoviva, Inc. (NASDAQ:INVA - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 917,961 shares of the biotechnology company's stock, valued at approximately $20,847,000. Deutsche Bank AG owned approximately 1.24% of Innoviva as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the company. Creative Planning lifted its holdings in Innoviva by 0.8% in the 3rd quarter. Creative Planning now owns 61,365 shares of the biotechnology company's stock valued at $1,120,000 after purchasing an additional 461 shares in the last quarter. Bailard Inc. grew its holdings in shares of Innoviva by 4.7% during the fourth quarter. Bailard Inc. now owns 10,933 shares of the biotechnology company's stock worth $219,000 after buying an additional 492 shares in the last quarter. Verition Fund Management LLC grew its holdings in shares of Innoviva by 0.3% during the third quarter. Verition Fund Management LLC now owns 175,855 shares of the biotechnology company's stock worth $3,209,000 after buying an additional 527 shares in the last quarter. Parallel Advisors LLC raised its position in shares of Innoviva by 82.8% in the first quarter. Parallel Advisors LLC now owns 1,179 shares of the biotechnology company's stock valued at $27,000 after buying an additional 534 shares during the last quarter. Finally, Bank of Montreal Can raised its position in shares of Innoviva by 3.8% in the fourth quarter. Bank of Montreal Can now owns 14,742 shares of the biotechnology company's stock valued at $295,000 after buying an additional 540 shares during the last quarter. 99.12% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. HC Wainwright reissued a "buy" rating and issued a $46.00 price target on shares of Innoviva in a research note on Monday, June 1st. BTIG Research reaffirmed a "buy" rating and set a $42.00 price objective on shares of Innoviva in a research note on Monday, June 22nd. Zacks Research downgraded shares of Innoviva from a "hold" rating to a "strong sell" rating in a report on Friday, July 31st. Cantor Fitzgerald decreased their target price on shares of Innoviva from $36.00 to $34.00 and set an "overweight" rating on the stock in a research note on Friday, August 7th. Finally, Weiss Ratings cut Innoviva from a "buy (b)" rating to a "hold (c+)" rating in a report on Tuesday, August 11th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $34.75.

Innoviva Stock Up 0.3%

NASDAQ INVA opened at $21.07 on Friday. The business's fifty day simple moving average is $21.80 and its 200-day simple moving average is $22.38. The company has a quick ratio of 15.18, a current ratio of 16.01 and a debt-to-equity ratio of 0.21. The firm has a market cap of $1.52 billion, a PE ratio of 5.14 and a beta of 0.35. Innoviva, Inc. has a 52 week low of $16.52 and a 52 week high of $25.15.

Innoviva Company 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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