Universal Beteiligungs und Servicegesellschaft mbH Acquires New Stake in Innoviva, Inc. (NASDAQ:INVA)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has made a new investment of approximately $627,000 in Innoviva, acquiring 34,559 shares of the biotechnology company.
• Research analysts have issued favorable ratings for Innoviva, with HC Wainwright giving a "buy" rating and a price target of $40.00.
• As of now, institutional investors collectively own 99.12% of Innoviva's stock, indicating a strong backing from large financial entities.

Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Innoviva, Inc. (NASDAQ:INVA - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The firm bought 34,559 shares of the biotechnology company's stock, valued at approximately $627,000. Universal Beteiligungs und Servicegesellschaft mbH owned 0.06% of Innoviva as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. SG Americas Securities LLC bought a new position in Innoviva during the 1st quarter worth approximately $737,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Innoviva by 3.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,490 shares of the biotechnology company's stock valued at $546,000 after acquiring an additional 1,162 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Innoviva by 2.6% during the first quarter. Principal Financial Group Inc. now owns 305,476 shares of the biotechnology company's stock valued at $5,538,000 after acquiring an additional 7,700 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Innoviva by 10.3% in the first quarter. Farther Finance Advisors LLC now owns 8,516 shares of the biotechnology company's stock worth $153,000 after purchasing an additional 795 shares in the last quarter. Finally, Millennium Management LLC grew its stake in shares of Innoviva by 426.4% in the fourth quarter. Millennium Management LLC now owns 400,613 shares of the biotechnology company's stock worth $6,951,000 after purchasing an additional 324,515 shares in the last quarter. 99.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on INVA shares. HC Wainwright began coverage on shares of Innoviva in a research report on Monday, July 14th. They issued a "buy" rating and a $40.00 price target for the company. Wall Street Zen upgraded shares of Innoviva from a "hold" rating to a "buy" rating in a report on Wednesday, April 30th. Finally, Cantor Fitzgerald began coverage on Innoviva in a research note on Friday, July 11th. They issued an "overweight" rating and a $26.00 price target on the stock.

Innoviva Price Performance

NASDAQ INVA traded down $0.22 on Wednesday, reaching $18.23. 275,770 shares of the company's stock traded hands, compared to its average volume of 815,030. Innoviva, Inc. has a 12 month low of $16.67 and a 12 month high of $22.00. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.48 and a quick ratio of 2.30. The stock has a 50-day simple moving average of $19.93 and a 200 day simple moving average of $18.75. The stock has a market cap of $1.14 billion, a PE ratio of -18.04 and a beta of 0.38.

Innoviva (NASDAQ:INVA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The biotechnology company reported $0.25 EPS for the quarter. The business 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, research analysts predict that Innoviva, Inc. will post 0.33 earnings per share for the current year.

Innoviva Profile

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.