Headlands Technologies LLC Acquires 39,177 Shares of Innoviva, Inc. $INVA

Headlands Technologies LLC lifted its stake in Innoviva, Inc. (NASDAQ:INVA) by 397.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,033 shares of the biotechnology company’s stock after acquiring an additional 39,177 shares during the period. Headlands Technologies LLC owned approximately 0.07% of Innoviva worth $1,114,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Parallel Advisors LLC increased its position in shares of Innoviva by 82.8% during the first quarter. Parallel Advisors LLC now owns 1,179 shares of the biotechnology company’s stock valued at $27,000 after buying an additional 534 shares during the period. Public Employees Retirement System of Ohio bought a new position in shares of Innoviva in the second quarter valued at approximately $30,000. Allworth Financial LP bought a new position in shares of Innoviva in the second quarter valued at approximately $42,000. EverSource Wealth Advisors LLC grew its stake in Innoviva by 297.7% during the second quarter. EverSource Wealth Advisors LLC now owns 2,398 shares of the biotechnology company’s stock valued at $48,000 after acquiring an additional 1,795 shares in the last quarter. Finally, Mint Tower Capital Management B.V. purchased a new position in Innoviva during the second quarter valued at approximately $47,000. Hedge funds and other institutional investors own 99.12% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on INVA shares. HC Wainwright reaffirmed a “buy” rating and issued a $46.00 price target on shares of Innoviva in a report on Monday, June 1st. Wall Street Zen cut Innoviva from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Cantor Fitzgerald decreased their target price on Innoviva from $36.00 to $34.00 and set an “overweight” rating on the stock in a research note on Friday, August 7th. Zacks Research lowered Innoviva from a “hold” rating to a “strong sell” rating in a research note on Friday, July 31st. Finally, BTIG Research reaffirmed a “buy” rating and issued a $42.00 price target on shares of Innoviva in a report on Monday, June 22nd. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $34.75.

Innoviva Trading Down 1.0%

INVA stock opened at $20.77 on Tuesday. The company has a market capitalization of $1.50 billion, a PE ratio of 5.07 and a beta of 0.35. The company has a debt-to-equity ratio of 0.21, a quick ratio of 15.18 and a current ratio of 16.01. Innoviva, Inc. has a one year low of $16.52 and a one year high of $25.15. The company’s 50 day moving average price is $21.62 and its two-hundred day moving average price is $22.36.

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.