Hussman Strategic Advisors Inc. Sells 168,000 Shares of Innoviva, Inc. $INVA

Hussman Strategic Advisors Inc. decreased its stake in Innoviva, Inc. (NASDAQ:INVA) by 80.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,000 shares of the biotechnology company’s stock after selling 168,000 shares during the quarter. Hussman Strategic Advisors Inc.’s holdings in Innoviva were worth $766,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Bank of Montreal Can grew its stake in shares of Innoviva by 4.2% during the 2nd quarter. Bank of Montreal Can now owns 18,853 shares of the biotechnology company’s stock valued at $379,000 after acquiring an additional 767 shares during the period. Oregon Public Employees Retirement Fund raised its stake in Innoviva by 6.3% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 13,507 shares of the biotechnology company’s stock worth $247,000 after acquiring an additional 800 shares during the period. Teacher Retirement System of Texas lifted its holdings in Innoviva by 5.9% during the second quarter. Teacher Retirement System of Texas now owns 16,053 shares of the biotechnology company’s stock valued at $323,000 after purchasing an additional 889 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Innoviva by 7.6% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,183 shares of the biotechnology company’s stock valued at $285,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Ameritas Investment Partners Inc. boosted its position in shares of Innoviva by 18.6% in the second quarter. Ameritas Investment Partners Inc. now owns 6,429 shares of the biotechnology company’s stock worth $129,000 after purchasing an additional 1,007 shares during the period. Institutional investors own 99.12% of the company’s stock.

Innoviva Stock Performance

Shares of NASDAQ INVA opened at $19.55 on Thursday. The company has a market cap of $1.46 billion, a P/E ratio of 14.27 and a beta of 0.44. Innoviva, Inc. has a 52-week low of $16.52 and a 52-week high of $22.76. The company has a debt-to-equity ratio of 0.25, a quick ratio of 13.33 and a current ratio of 14.12. The firm’s fifty day moving average is $20.19 and its two-hundred day moving average is $19.57.

Innoviva (NASDAQ:INVA) last issued its quarterly earnings data on Wednesday, November 5th. The biotechnology company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.62. Innoviva had a return on equity of 28.17% and a net margin of 32.78%.The firm had revenue of $107.80 million during the quarter, compared to analyst estimates of $91.31 million. As a group, analysts anticipate that Innoviva, Inc. will post 0.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

INVA has been the topic of several recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Innoviva in a research report on Monday, December 29th. HC Wainwright increased their price target on Innoviva from $45.00 to $46.00 and gave the stock a “buy” rating in a research note on Tuesday, December 16th. Cantor Fitzgerald raised their price target on Innoviva from $29.00 to $31.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Wall Street Zen raised Innoviva from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 25th. Finally, Zacks Research cut Innoviva from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 6th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.80.

Innoviva 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.