Innoviva, Inc. (NASDAQ:INVA) Shares Purchased by American Century Companies Inc.

American Century Companies Inc. grew its stake in Innoviva, Inc. (NASDAQ:INVA - Free Report) by 35.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,424,315 shares of the biotechnology company's stock after buying an additional 370,795 shares during the quarter. American Century Companies Inc. owned 2.28% of Innoviva worth $24,712,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Martingale Asset Management L P lifted its holdings in Innoviva by 0.7% in 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 acquiring an additional 550 shares during the period. FMR LLC increased its holdings in shares of Innoviva by 8.2% during the 3rd quarter. FMR LLC now owns 10,119 shares of the biotechnology company's stock valued at $195,000 after purchasing an additional 771 shares in the last quarter. Illinois Municipal Retirement Fund lifted its stake in shares of Innoviva by 2.8% in the 4th quarter. Illinois Municipal Retirement Fund now owns 29,066 shares of the biotechnology company's stock valued at $504,000 after purchasing an additional 784 shares during the period. China Universal Asset Management Co. Ltd. boosted its holdings in Innoviva by 10.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 13,274 shares of the biotechnology company's stock worth $230,000 after buying an additional 1,241 shares in the last quarter. Finally, Avantax Advisory Services Inc. grew its position in Innoviva by 8.1% during the fourth quarter. Avantax Advisory Services Inc. now owns 18,501 shares of the biotechnology company's stock valued at $321,000 after buying an additional 1,381 shares during the period. Hedge funds and other institutional investors own 99.12% of the company's stock.

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Insider Buying and Selling at Innoviva

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

Innoviva Price Performance

NASDAQ INVA traded up $0.01 on Thursday, hitting $18.08. The company had a trading volume of 610,696 shares, compared to its average volume of 615,088. 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's fifty day moving average price is $17.95 and its 200-day moving average price is $18.61. The company has a market capitalization of $1.13 billion, a PE ratio of 26.20 and a beta of 0.56. Innoviva, Inc. has a 12-month low of $14.33 and a 12-month high of $21.28.

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on INVA shares. StockNews.com downgraded shares of Innoviva from a "buy" rating to a "hold" rating in a research report on Tuesday. Scotiabank assumed 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.

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.