American Century Companies Inc. Purchases 361,797 Shares of Innoviva, Inc. (NASDAQ:INVA)

American Century Companies Inc. grew its position in Innoviva, Inc. (NASDAQ:INVA) by 369.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 459,690 shares of the biotechnology company’s stock after acquiring an additional 361,797 shares during the period. American Century Companies Inc. owned 0.74% of Innoviva worth $7,539,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. EdgeRock Capital LLC bought a new position in Innoviva in the 2nd quarter valued at $31,000. Bessemer Group Inc. raised its holdings in shares of Innoviva by 333.5% in the first quarter. Bessemer Group Inc. now owns 2,211 shares of the biotechnology company’s stock valued at $33,000 after buying an additional 1,701 shares during the last quarter. Innealta Capital LLC acquired a new position in Innoviva during the 2nd quarter worth about $33,000. GAMMA Investing LLC lifted its position in Innoviva by 124.0% during the 1st quarter. GAMMA Investing LLC now owns 2,262 shares of the biotechnology company’s stock worth $34,000 after buying an additional 1,252 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Innoviva in the 1st quarter valued at about $138,000. 99.12% of the stock is owned by institutional investors and hedge funds.

Innoviva Price Performance

Shares of INVA stock opened at $18.91 on Tuesday. 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, Inc. has a 12 month low of $12.22 and a 12 month high of $20.19. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 8.52 and a beta of 0.57. The stock has a 50-day moving average price of $18.75 and a 200 day moving average price of $16.68.

Innoviva (NASDAQ:INVA) last posted its quarterly 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 business had revenue of $99.90 million during the quarter. Research analysts expect that Innoviva, Inc. will post 0.5 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on INVA shares. StockNews.com lowered shares of Innoviva from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 6th. Cantor Fitzgerald reiterated 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.