Why Innoviva Inc. (NASDAQ: INVA) Stock Could See Much Higher Prices Ahead

Innoviva Inc. (NASDAQ: INVA) is -2.05% lower on its value in year-to-date trading and has touched a low of $7.58 and a high of $15.35 in the current 52-week trading range. The INVA stock was last observed hovering at around $13.97 in the last trading session, with the day’s loss setting it -0.1%.

Currently trading at $13.87, the stock is -0.37% and 7.67% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.64 million and changing -0.72% at the moment leaves the stock 9.96% off its SMA200. INVA registered 1.46% gain for a year compared to 6-month gain of 5.96%. The firm has a 50-day simple moving average (SMA 50) of $13.63 and a 200-day simple moving average (SMA200) of $13.31.

The stock witnessed a -2.19% loss in the last 1 month and extending the period to 3 months gives it a 0.65%, and is -4.08% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.92% over the week and 4.23% over the month.

Innoviva Inc. (INVA) has around 5 employees, a market worth around $1.44B and $284.50M in sales. Current P/E ratio is 8.28 and Fwd P/E is 10.71. Profit margin for the company is 66.40%. Distance from 52-week low is 82.98% and -9.64% from its 52-week high. The company has generated returns on investments over the last 12 months (29.60%).

Innoviva Inc. (INVA) Analyst Forecasts

Innoviva Inc. is expected to release its quarterly report on 07/23/2020 and quarterly earnings per share for the current quarter are estimated at $0.31 with sales reaching $61.7M over the same period.The EPS is expected to shrink by -60.20% this year, but quarterly earnings will post -4.80% year-over-year. Quarterly sales are estimated to shrink -3.80% in year-over-year returns.

Innoviva Inc. (INVA) Top Institutional Holders

284 institutions hold shares in Innoviva Inc. (INVA), with 32.76M shares held by insiders accounting for 32.33% while institutional investors hold 112.85% of the company’s shares. The shares outstanding are 101.24M, and float is at 68.57M with Short Float at 17.24%. Institutions hold 76.37% of the Float.

The top institutional shareholder in the company is Blackrock Inc. with over 11.19 million shares valued at $131.63 million. The investor’s holdings represent 11.05% of the INVA Shares outstanding. As of Mar 30, 2020, the second largest holder is Renaissance Technologies, LLC with 8.2 million shares valued at $96.48 million to account for 8.10% of the shares outstanding. The other top investors are Vanguard Group, Inc. (The) which holds 6.8 million shares representing 6.71% and valued at over $80.0 million, while Sarissa Capital Management, LP holds 6.16% of the shares totaling 6.24 million with a market value of $73.41 million.

Innoviva Inc. (INVA) Insider Activity

A total of 12 insider transactions have happened at Innoviva Inc. (INVA) in the last six months, with sales accounting for 5 and purchases happening 7 times. The most recent transaction is an insider purchase by Innoviva, Inc., the company’s 10% Owner. SEC filings show that Innoviva, Inc. bought 7,717,661 shares of the company’s common stock on Mar 27 at a price of $2.87 per share for a total of $22.15 million. Following the purchase, the insider now owns 8.71 million shares.

Innoviva Inc. disclosed in a document filed with the SEC on Feb 24 that Zhen Marianne (Chief Accounting Officer) sold a total of 2,954 shares of the company’s common stock. The trade occurred on Feb 24 and was made at $14.78 per share for $0.04 million. Following the transaction, the insider now directly holds 0.02 million shares of the INVA stock.

Innoviva Inc. (INVA): Who are the competitors?

The company’s main competitors (and peers) include Johnson & Johnson (JNJ) that is trading 12.23% up over the past 12 months. Novartis AG (NVS) is 1.21% up on the 1-year trading charts. Short interest in the company’s stock has risen 1.61% from the last report on Apr 14, 2020 to stand at a total of 11.63 million short shares sold with a short interest ratio of 17.92.