Allspring Global Investments Holdings LLC raised its position in shares of Innoviva, Inc. (NASDAQ:INVA – Free Report) by 16.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,659 shares of the biotechnology company’s stock after purchasing an additional 15,595 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.18% of Innoviva worth $1,702,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in INVA. Pacer Advisors Inc. raised its position in Innoviva by 119,140.3% during the fourth quarter. Pacer Advisors Inc. now owns 1,728,984 shares of the biotechnology company’s stock valued at $27,733,000 after purchasing an additional 1,727,534 shares in the last quarter. Westfield Capital Management Co. LP increased its holdings in shares of Innoviva by 27.8% during the fourth quarter. Westfield Capital Management Co. LP now owns 2,614,127 shares of the biotechnology company’s stock worth $41,931,000 after buying an additional 569,117 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new position in shares of Innoviva during the fourth quarter worth $4,663,000. CWA Asset Management Group LLC acquired a new position in shares of Innoviva during the fourth quarter worth $4,070,000. Finally, Invesco Ltd. increased its holdings in shares of Innoviva by 55.2% during the third quarter. Invesco Ltd. now owns 661,978 shares of the biotechnology company’s stock worth $8,599,000 after buying an additional 235,330 shares in the last quarter. 99.12% of the stock is currently owned by institutional investors and hedge funds.
Innoviva Stock Performance
Shares of Innoviva stock opened at $16.33 on Thursday. The company has a quick ratio of 9.17, a current ratio of 10.42 and a debt-to-equity ratio of 0.63. Innoviva, Inc. has a twelve month low of $12.22 and a twelve month high of $16.86. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 7.36 and a beta of 0.57. The company’s fifty day moving average is $15.86 and its 200 day moving average is $15.67.
Analysts Set New Price Targets
Several research analysts have recently issued reports on the stock. Cantor Fitzgerald assumed coverage on shares of Innoviva in a report on Tuesday, June 18th. They set an “overweight” rating for the company. StockNews.com upgraded shares of Innoviva from a “hold” rating to a “buy” rating in a report on Friday, March 29th.
Read Our Latest Stock Report on INVA
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.
Recommended Stories
- Five stocks we like better than Innoviva
- Why Special Dividends Can be a Delightful Surprise for Income Investors
- AbbVie Stock: A Perfect Dip for Investors to Buy
- Are Penny Stocks a Good Fit for Your Portfolio?
- Forget NVIDIA: Super Micro Computer Stock Leads in Momentum
- What Does Downgrade Mean in Investing?
- GitLab Stock Rebounds: The Inside Story of Its Comeback
Receive News & Ratings for Innoviva Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Innoviva and related companies with MarketBeat.com's FREE daily email newsletter.