SG Americas Securities LLC Makes New $737,000 Investment in Innoviva, Inc. (NASDAQ:INVA)

SG Americas Securities LLC bought a new stake in shares of Innoviva, Inc. (NASDAQ:INVA) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 40,638 shares of the biotechnology company’s stock, valued at approximately $737,000. SG Americas Securities LLC owned 0.06% of Innoviva at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. American Century Companies Inc. raised its holdings in shares of Innoviva by 35.2% in the fourth quarter. American Century Companies Inc. now owns 1,424,315 shares of the biotechnology company’s stock valued at $24,712,000 after purchasing an additional 370,795 shares during the last quarter. Millennium Management LLC boosted its position in Innoviva by 426.4% during the fourth quarter. Millennium Management LLC now owns 400,613 shares of the biotechnology company’s stock worth $6,951,000 after purchasing an additional 324,515 shares during the period. Hsbc Holdings PLC bought a new stake in shares of Innoviva in the fourth quarter valued at about $5,437,000. Jefferies Financial Group Inc. boosted its position in shares of Innoviva by 355.8% in the fourth quarter. Jefferies Financial Group Inc. now owns 296,238 shares of the biotechnology company’s stock valued at $5,140,000 after acquiring an additional 231,238 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Innoviva by 4.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,919,518 shares of the biotechnology company’s stock valued at $85,354,000 after acquiring an additional 226,592 shares during the period. 99.12% of the stock is currently owned by institutional investors and hedge funds.

Innoviva Trading Down 2.1%

Shares of INVA stock opened at $21.00 on Friday. Innoviva, Inc. has a 52-week low of $15.70 and a 52-week high of $22.00. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.30 and a current ratio of 2.48. The company has a 50-day simple moving average of $19.40 and a two-hundred day simple moving average of $18.45. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of -20.79 and a beta of 0.37.

Innoviva (NASDAQ:INVA) last announced its quarterly earnings data on Wednesday, May 7th. The biotechnology company reported $0.25 earnings per share for the quarter. Innoviva had a positive return on equity of 15.77% and a negative net margin of 16.15%. The company had revenue of $88.63 million during the quarter. Research analysts anticipate that Innoviva, Inc. will post 0.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Scotiabank assumed coverage on shares of Innoviva in a research report on Friday, March 7th. They set a “sector outperform” rating and a $55.00 price objective for the company. Wall Street Zen raised Innoviva from a “hold” rating to a “buy” rating in a research note on Wednesday, April 30th.

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.