Charles Schwab Investment Management Inc. Sells 104,634 Shares of Innoviva, Inc. (NASDAQ:INVA)

Charles Schwab Investment Management Inc. trimmed its holdings in shares of Innoviva, Inc. (NASDAQ:INVA - Free Report) by 14.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 627,662 shares of the biotechnology company's stock after selling 104,634 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.00% of Innoviva worth $10,890,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Barclays PLC raised its stake in Innoviva by 254.2% during the 3rd quarter. Barclays PLC now owns 100,594 shares of the biotechnology company's stock worth $1,942,000 after buying an additional 72,192 shares during the period. Jane Street Group LLC lifted its holdings in shares of Innoviva by 46.4% in the 3rd quarter. Jane Street Group LLC now owns 136,361 shares of the biotechnology company's stock worth $2,633,000 after purchasing an additional 43,218 shares in the last quarter. FMR LLC lifted its holdings in shares of Innoviva by 8.2% in the 3rd 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. Segall Bryant & Hamill LLC acquired a new stake in Innoviva in the 3rd quarter valued at $715,000. Finally, Victory Capital Management Inc. increased its stake in Innoviva by 3.5% during the 3rd quarter. Victory Capital Management Inc. now owns 140,454 shares of the biotechnology company's stock valued at $2,712,000 after purchasing an additional 4,699 shares in the last quarter. Institutional investors and hedge funds own 99.12% of the company's stock.

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Analyst Upgrades and Downgrades

A number of research analysts have weighed in on INVA shares. StockNews.com raised shares of Innoviva from a "hold" rating to a "buy" rating in a research note on Monday. Scotiabank started coverage on shares of Innoviva in a research report on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 price target on the stock.

Insiders Place Their Bets

In other Innoviva news, major shareholder Alexander J. Denner sold 151,175 shares of the business's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $17.63, for a total value of $2,665,215.25. Following the transaction, the insider now owns 7,125,825 shares of the company's stock, valued at approximately $125,628,294.75. The trade was a 2.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.70% of the stock is currently owned by insiders.

Innoviva Stock Up 0.3 %

Innoviva stock traded up $0.05 during trading on Tuesday, hitting $17.38. 690,996 shares of the company were exchanged, compared to its average volume of 588,181. The company has a current ratio of 1.79, a quick ratio of 1.64 and a debt-to-equity ratio of 0.38. The business's 50 day moving average is $18.02 and its 200 day moving average is $18.67. Innoviva, Inc. has a 52 week low of $14.33 and a 52 week high of $21.28. The company has a market capitalization of $1.09 billion, a P/E ratio of 25.19 and a beta of 0.56.

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

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.