Arrowstreet Capital Limited Partnership Purchases 81,142 Shares of Innoviva, Inc. (NASDAQ:INVA)

Arrowstreet Capital Limited Partnership grew its holdings in Innoviva, Inc. (NASDAQ:INVA - Free Report) by 7.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,146,243 shares of the biotechnology company's stock after purchasing an additional 81,142 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 1.83% of Innoviva worth $19,887,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Innoviva by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 6,312,631 shares of the biotechnology company's stock valued at $109,524,000 after buying an additional 84,934 shares during the period. Pacer Advisors Inc. increased its stake in shares of Innoviva by 4.3% in the 4th quarter. Pacer Advisors Inc. now owns 2,932,113 shares of the biotechnology company's stock valued at $50,872,000 after acquiring an additional 121,162 shares in the last quarter. Systematic Financial Management LP lifted its position in shares of Innoviva by 4.7% during the 3rd quarter. Systematic Financial Management LP now owns 1,979,073 shares of the biotechnology company's stock valued at $38,216,000 after acquiring an additional 89,633 shares during the period. American Century Companies Inc. boosted its stake in Innoviva by 35.2% during the fourth quarter. American Century Companies Inc. now owns 1,424,315 shares of the biotechnology company's stock worth $24,712,000 after acquiring an additional 370,795 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Innoviva by 1.0% in the third quarter. Geode Capital Management LLC now owns 1,357,557 shares of the biotechnology company's stock worth $26,219,000 after purchasing an additional 13,257 shares during the period. Institutional investors own 99.12% of the company's stock.

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Insider Activity at Innoviva

In other news, major shareholder Alexander J. Denner sold 1,196,746 shares of Innoviva stock in a transaction 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 sale, the insider now directly owns 5,658,705 shares in the company, valued at $99,140,511.60. The trade was a 17.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.70% of the stock is owned by insiders.

Innoviva Stock Down 1.5 %

Shares of NASDAQ:INVA traded down $0.26 during midday trading on Tuesday, hitting $17.25. 1,286,452 shares of the company's stock were exchanged, compared to its average volume of 621,231. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.79 and a quick ratio of 1.64. Innoviva, Inc. has a 12 month low of $14.33 and a 12 month high of $21.28. The company has a market cap of $1.08 billion, a PE ratio of 25.00 and a beta of 0.48. The stock has a 50 day moving average price of $17.83 and a 200-day moving average price of $18.54.

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

Wall Street Analyst Weigh In

INVA has been the subject of a number of research analyst reports. StockNews.com lowered Innoviva from a "buy" rating to a "hold" rating in a research report on Tuesday, April 1st. Scotiabank began coverage on Innoviva in a report on Friday, March 7th. They set a "sector outperform" rating and a $55.00 price objective for the company.

About Innoviva

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.