American Century Companies Inc. Raises Position in Innoviva, Inc. (NASDAQ:INVA)

American Century Companies Inc. grew its holdings in Innoviva, Inc. (NASDAQ:INVA - Free Report) by 369.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 459,690 shares of the biotechnology company's stock after acquiring an additional 361,797 shares during the quarter. American Century Companies Inc. owned 0.74% of Innoviva worth $7,539,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of INVA. Texas Permanent School Fund Corp lifted its holdings in Innoviva by 16.3% during the 2nd quarter. Texas Permanent School Fund Corp now owns 57,381 shares of the biotechnology company's stock worth $941,000 after purchasing an additional 8,023 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Innoviva by 63.1% during the 2nd quarter. Victory Capital Management Inc. now owns 135,755 shares of the biotechnology company's stock worth $2,226,000 after buying an additional 52,523 shares during the period. Chase Investment Counsel Corp lifted its holdings in Innoviva by 8.1% during the 2nd quarter. Chase Investment Counsel Corp now owns 80,000 shares of the biotechnology company's stock worth $1,312,000 after buying an additional 6,000 shares during the period. Ritholtz Wealth Management lifted its holdings in Innoviva by 68.3% during the 2nd quarter. Ritholtz Wealth Management now owns 58,425 shares of the biotechnology company's stock worth $958,000 after buying an additional 23,718 shares during the period. Finally, Innealta Capital LLC bought a new stake in shares of Innoviva during the 2nd quarter valued at about $33,000. 99.12% of the stock is currently owned by institutional investors.

Innoviva Price Performance

NASDAQ:INVA traded down $0.01 during midday trading on Tuesday, hitting $18.90. The company had a trading volume of 1,040,934 shares, compared to its average volume of 587,520. Innoviva, Inc. has a 52-week low of $12.22 and a 52-week high of $20.19. The stock's fifty day moving average price is $18.79 and its 200-day moving average price is $16.70. The company has a market capitalization of $1.18 billion, a PE ratio of 8.51 and a beta of 0.57. The company has a quick ratio of 11.40, a current ratio of 12.70 and a debt-to-equity ratio of 0.67.

Innoviva (NASDAQ:INVA - Get Free Report) last posted its earnings results on Wednesday, July 31st. The biotechnology company reported $0.68 earnings per share for the quarter. Innoviva had a net margin of 44.00% and a return on equity of 33.26%. The company had revenue of $99.90 million during the quarter. As a group, research analysts expect that Innoviva, Inc. will post 0.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. StockNews.com lowered shares of 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 Company 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.