Innoviva Inc (INVA) Shares Bought by AMP Capital Investors Ltd
AMP Capital Investors Ltd boosted its stake in shares of Innoviva Inc (NASDAQ:INVA) by 91.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 19,933 shares of the biotechnology company’s stock after buying an additional 9,506 shares during the period. AMP Capital Investors Ltd’s holdings in Innoviva were worth $275,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in shares of Innoviva in the first quarter valued at approximately $113,000. OppenheimerFunds Inc. acquired a new stake in shares of Innoviva in the second quarter valued at approximately $142,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Innoviva in the second quarter valued at approximately $167,000. Stevens Capital Management LP acquired a new stake in shares of Innoviva in the second quarter valued at approximately $183,000. Finally, Bayesian Capital Management LP acquired a new stake in shares of Innoviva in the first quarter valued at approximately $197,000. Hedge funds and other institutional investors own 72.70% of the company’s stock.
In related news, VP Theodore J. Jr. Witek sold 8,504 shares of the firm’s stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $14.12, for a total value of $120,076.48. Following the completion of the transaction, the vice president now directly owns 256,271 shares of the company’s stock, valued at $3,618,546.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.44% of the stock is currently owned by company insiders.
Innoviva (NASDAQ:INVA) last released its earnings results on Thursday, July 26th. The biotechnology company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.06). Innoviva had a net margin of 70.01% and a negative return on equity of 83.69%. The firm had revenue of $67.09 million during the quarter, compared to the consensus estimate of $68.50 million. During the same period in the prior year, the business posted $0.30 earnings per share. Innoviva’s quarterly revenue was up 14.6% compared to the same quarter last year. analysts predict that Innoviva Inc will post 1.83 EPS for the current fiscal year.
INVA has been the topic of a number of recent research reports. BidaskClub upgraded shares of Innoviva from a “hold” rating to a “buy” rating in a report on Saturday, June 2nd. Zacks Investment Research upgraded shares of Innoviva from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 26th. Stifel Nicolaus reiterated a “hold” rating and issued a $16.00 price objective on shares of Innoviva in a report on Monday, June 25th. Finally, ValuEngine upgraded shares of Innoviva from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $13.67.
Innoviva, Inc engages in the development and commercialization of bio-pharmaceuticals. Its portfolio of respiratory products include RELVAR/BREO ELLIPTA, (fluticasone furoate/ vilanterol, FF/VI); ANORO ELLIPTA (umeclidinium bromide/ vilanterol, UMEC/VI); and TRELEGY ELLIPTA (the combination FF/UMEC/VI).
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