CWA Asset Management Group LLC Purchases Shares of 29,710 Innoviva, Inc. (NASDAQ:INVA)

CWA Asset Management Group LLC acquired a new stake in shares of Innoviva, Inc. (NASDAQ:INVA - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 29,710 shares of the biotechnology company's stock, valued at approximately $574,000.

Several other institutional investors and hedge funds have also bought and sold shares of INVA. EdgeRock Capital LLC purchased a new stake in Innoviva in the second quarter worth about $31,000. Bessemer Group Inc. increased its holdings in Innoviva by 333.5% during the 1st quarter. Bessemer Group Inc. now owns 2,211 shares of the biotechnology company's stock worth $33,000 after purchasing an additional 1,701 shares during the period. Innealta Capital LLC bought a new position in Innoviva in the second quarter worth approximately $33,000. US Bancorp DE grew its holdings in Innoviva by 24.5% in the third quarter. US Bancorp DE now owns 2,875 shares of the biotechnology company's stock worth $56,000 after purchasing an additional 566 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Innoviva by 53.7% in the 2nd quarter. GAMMA Investing LLC now owns 3,476 shares of the biotechnology company's stock valued at $57,000 after purchasing an additional 1,214 shares during the last quarter. 99.12% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. StockNews.com downgraded Innoviva from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, August 6th. Cantor Fitzgerald reissued an "overweight" rating on shares of Innoviva in a research report on Tuesday, July 30th.

Innoviva Price Performance

Shares of INVA stock traded up $0.20 during trading hours on Tuesday, hitting $20.32. The company's stock had a trading volume of 2,330,938 shares, compared to its average volume of 575,799. Innoviva, Inc. has a twelve month low of $13.39 and a twelve month high of $21.28. The company has a current ratio of 1.79, a quick ratio of 11.40 and a debt-to-equity ratio of 0.38. The business has a fifty day moving average of $19.63 and a 200-day moving average of $17.87. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of 29.16 and a beta of 0.57.

Innoviva (NASDAQ:INVA - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.25). The company had revenue of $89.51 million for the quarter. Innoviva had a return on equity of 20.84% and a net margin of 18.31%. As a group, equities research analysts anticipate that Innoviva, Inc. will post 0.5 EPS 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.