Chase Investment Counsel Corp Buys 6,000 Shares of Innoviva, Inc. (NASDAQ:INVA)

Chase Investment Counsel Corp grew its stake in shares of Innoviva, Inc. (NASDAQ:INVA) by 8.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 80,000 shares of the biotechnology company’s stock after acquiring an additional 6,000 shares during the period. Chase Investment Counsel Corp owned about 0.13% of Innoviva worth $1,312,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of INVA. Victory Capital Management Inc. lifted its stake in Innoviva by 14.1% in the fourth quarter. Victory Capital Management Inc. now owns 12,600 shares of the biotechnology company’s stock valued at $202,000 after purchasing an additional 1,558 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Innoviva by 17.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 933,259 shares of the biotechnology company’s stock valued at $14,969,000 after buying an additional 135,456 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Innoviva by 87.0% during the 4th quarter. BNP Paribas Financial Markets now owns 57,979 shares of the biotechnology company’s stock worth $930,000 after acquiring an additional 26,980 shares during the period. Jump Financial LLC increased its holdings in Innoviva by 281.7% in the 4th quarter. Jump Financial LLC now owns 91,995 shares of the biotechnology company’s stock worth $1,476,000 after acquiring an additional 67,895 shares during the last quarter. Finally, QRG Capital Management Inc. raised its stake in Innoviva by 3.1% in the 4th quarter. QRG Capital Management Inc. now owns 58,014 shares of the biotechnology company’s stock valued at $931,000 after acquiring an additional 1,771 shares during the period. Hedge funds and other institutional investors own 99.12% of the company’s stock.

Innoviva Stock Performance

Shares of Innoviva stock traded up $0.10 during trading hours on Thursday, reaching $19.79. The company had a trading volume of 27,754 shares, compared to its average volume of 584,144. The firm has a market cap of $1.24 billion, a PE ratio of 8.87 and a beta of 0.57. Innoviva, Inc. has a one year low of $12.22 and a one year high of $19.82. The company has a debt-to-equity ratio of 0.67, a current ratio of 12.70 and a quick ratio of 11.40. The business has a fifty day simple moving average of $17.98 and a 200 day simple moving average of $16.29.

Innoviva (NASDAQ:INVA) last issued its earnings results on Wednesday, July 31st. The biotechnology company reported $0.68 EPS for the quarter. The business had revenue of $99.90 million during the quarter. Innoviva had a return on equity of 33.26% and a net margin of 44.00%. On average, analysts anticipate that Innoviva, Inc. will post 0.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

INVA has been the subject of a number of research reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Innoviva in a research report on Tuesday, July 30th. StockNews.com cut shares of Innoviva from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 6th.

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.