Hussman Strategic Advisors Inc. Boosts Stock Position in Innoviva, Inc. $INVA

Key Points

• Hussman Strategic Advisors boosted its stake in Innoviva by 150% in Q4, buying 63,000 additional shares to hold 105,000 shares worth $2,099,000 (about 0.14% of the company).
• Innoviva posted a strong quarter with Q4 EPS $1.94 vs. $0.34 est. and revenue of $114.61M, and the stock trades at a PE of 7.58 with a market cap of $1.71B and a 52-week range of $16.52–$25.15.
• Institutional ownership is very high at 99.12%, several major funds recently increased positions, and analysts hold a consensus "Moderate Buy" with an average price target of $34.80.

Hussman Strategic Advisors Inc. boosted its holdings in Innoviva, Inc. (NASDAQ:INVA - Free Report) by 150.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 105,000 shares of the biotechnology company's stock after purchasing an additional 63,000 shares during the period. Hussman Strategic Advisors Inc. owned about 0.14% of Innoviva worth $2,099,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of INVA. Royal Bank of Canada boosted its position in Innoviva by 81.1% in the first quarter. Royal Bank of Canada now owns 21,530 shares of the biotechnology company's stock worth $389,000 after purchasing an additional 9,639 shares during the last quarter. AQR Capital Management LLC boosted its position in 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 purchasing an additional 25,317 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position 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 worth $596,000 after purchasing an additional 1,392 shares during the last quarter. NewEdge Advisors LLC purchased a new position in Innoviva in the first quarter worth $243,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Innoviva by 21.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 171,116 shares of the biotechnology company's stock worth $3,102,000 after purchasing an additional 30,792 shares during the last quarter. Hedge funds and other institutional investors own 99.12% of the company's stock.

Innoviva Stock Up 0.5%

Shares of NASDAQ INVA opened at $23.11 on Friday. Innoviva, Inc. has a one year low of $16.52 and a one year high of $25.15. The company has a debt-to-equity ratio of 0.22, a current ratio of 14.64 and a quick ratio of 13.85. The business's fifty day moving average price is $23.01 and its 200-day moving average price is $21.18. The stock has a market capitalization of $1.71 billion, a PE ratio of 7.58 and a beta of 0.38.

Innoviva (NASDAQ:INVA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The biotechnology company reported $1.94 EPS for the quarter, beating analysts' consensus estimates of $0.34 by $1.60. Innoviva had a return on equity of 37.63% and a net margin of 65.92%.The firm had revenue of $114.61 million for the quarter, compared to analysts' expectations of $102.62 million. On average, equities research analysts anticipate that Innoviva, Inc. will post 1.99 EPS for the current year.

Analyst Ratings Changes

Several research firms have weighed in on INVA. Weiss Ratings reissued a "buy (b)" rating on shares of Innoviva in a research report on Friday, March 27th. BTIG Research reissued a "buy" rating and issued a $35.00 price objective on shares of Innoviva in a research report on Thursday, February 26th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $34.80.

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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