INNOVIVA, INC.
boothcheck covers INNOVIVA, INC. (INVA) but does not put one priced-in number on it: here the defensible answer is the evidence rather than a point estimate. boothcheck publishes no house fair value, target price, or buy/sell rating. Narrative composed June 27, 2026.
• Innoviva is two businesses in one: a respiratory royalty stream from GSK and a growing portfolio of hospital-marketed drugs, with royalty revenue of $58.6 million and net product sales of $41.4 million in the most recent quarter [Source: Innoviva Q1 2026 earnings release]. • The central risk is concentration and decay: the GSK respiratory royalties on RELVAR/BREO and ANORO ELLIPTA face ⟦"substantial competition"⟧ that the 10-K warns ⟦"could cause the royalties payable to us"⟧ to fall, and roya
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274 institutional managers reported holding INVA in 13F filings for the quarter ended 2026-03-31. Together they hold about 88% of the company; the top 10 hold 49%. 40 opened new positions that quarter. Held by BlackRock, Vanguard Group, Dimensional Fund Advisors, among others. On the short side, 6.6M shares were sold short as of the 2026-06-15 count, about 8% of shares outstanding (7.5 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
INVA has cut its share count 16.1% over the past five years, spending $124.54M on repurchases. It pays no dividend. Cash returned over the past three years: $66.02M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
No open-market insider buys on file at INVA over the trailing three years. Absence is a fact about the company, not a signal. 7 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
INVA's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-05-10 | +4.5% | +3.7% |
| 2023-08-03 | -1.4% | +0.4% |
| 2023-11-02 | +7.0% | +26.4% |
| 2024-03-01 | -0.7% | -0.3% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
INVA's latest 8-K filings: 2026-05-18 (items 5.02, 9.01); 2026-05-06 (items 2.02, 9.01); 2026-05-04 (items 5.07); 2026-02-25 (items 2.02, 9.01); 2025-11-05 (items 2.02, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: June 27, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.