KLP Kapitalforvaltning AS Invests $1.26 Million in Innoviva, Inc. (NASDAQ:INVA)

KLP Kapitalforvaltning AS acquired a new stake in shares of Innoviva, Inc. (NASDAQ:INVA - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 72,400 shares of the biotechnology company's stock, valued at approximately $1,256,000. KLP Kapitalforvaltning AS owned approximately 0.12% of Innoviva at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Martingale Asset Management L P boosted its stake in Innoviva by 0.7% during the third quarter. Martingale Asset Management L P now owns 77,842 shares of the biotechnology company's stock valued at $1,503,000 after buying an additional 550 shares during the period. FMR LLC grew its holdings in shares of Innoviva by 8.2% during the third quarter. FMR LLC now owns 10,119 shares of the biotechnology company's stock worth $195,000 after purchasing an additional 771 shares in the last quarter. Illinois Municipal Retirement Fund grew its holdings in shares of Innoviva by 2.8% during the fourth quarter. Illinois Municipal Retirement Fund now owns 29,066 shares of the biotechnology company's stock worth $504,000 after purchasing an additional 784 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of Innoviva by 10.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 13,274 shares of the biotechnology company's stock worth $230,000 after purchasing an additional 1,241 shares during the last quarter. Finally, Avantax Advisory Services Inc. raised its stake in Innoviva by 8.1% in the fourth quarter. Avantax Advisory Services Inc. now owns 18,501 shares of the biotechnology company's stock valued at $321,000 after purchasing an additional 1,381 shares in the last quarter. 99.12% of the stock is owned by institutional investors.

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Innoviva Stock Up 0.1 %

Innoviva stock traded up $0.01 during mid-day trading on Thursday, reaching $18.08. The stock had a trading volume of 610,696 shares, compared to its average volume of 615,088. The company has a 50-day moving average price of $17.95 and a two-hundred day moving average price of $18.61. Innoviva, Inc. has a one year low of $14.33 and a one year high of $21.28. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.79 and a quick ratio of 1.64. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 26.20 and a beta of 0.56.

Innoviva (NASDAQ:INVA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The biotechnology company reported $0.57 earnings per share for the quarter. The business had revenue of $91.81 million for the quarter. Innoviva had a net margin of 18.31% and a return on equity of 20.84%. On average, analysts expect that Innoviva, Inc. will post 0.33 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. StockNews.com lowered shares of Innoviva from a "buy" rating to a "hold" rating in a report on Tuesday. Scotiabank started coverage on Innoviva in a research report on Friday, March 7th. They set a "sector outperform" rating and a $55.00 price target on the stock.

Insider Activity at Innoviva

In other news, major shareholder Alexander J. Denner sold 1,196,746 shares of Innoviva stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $17.52, for a total value of $20,966,989.92. Following the completion of the transaction, the insider now owns 5,658,705 shares in the company, valued at approximately $99,140,511.60. The trade was a 17.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.70% of the stock is owned by insiders.

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.