Charles Schwab Investment Management Inc. Trims Stake in Innoviva, Inc. (NASDAQ:INVA)

Charles Schwab Investment Management Inc. decreased its stake in shares of Innoviva, Inc. (NASDAQ:INVA - Free Report) by 14.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 627,662 shares of the biotechnology company's stock after selling 104,634 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.00% of Innoviva worth $10,890,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of INVA. QRG Capital Management Inc. increased its stake in Innoviva by 4.4% in the 4th quarter. QRG Capital Management Inc. now owns 89,709 shares of the biotechnology company's stock worth $1,556,000 after acquiring an additional 3,769 shares during the last quarter. Illinois Municipal Retirement Fund increased its position in Innoviva by 2.8% in 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 during the last quarter. Hussman Strategic Advisors Inc. raised its stake in Innoviva by 33.3% during the fourth quarter. Hussman Strategic Advisors Inc. now owns 168,000 shares of the biotechnology company's stock valued at $2,915,000 after purchasing an additional 42,000 shares in the last quarter. Principal Financial Group Inc. lifted its position in Innoviva by 3.8% during the fourth quarter. Principal Financial Group Inc. now owns 297,776 shares of the biotechnology company's stock valued at $5,166,000 after purchasing an additional 10,999 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Innoviva by 2.1% in the 4th quarter. Rhumbline Advisers now owns 187,318 shares of the biotechnology company's stock worth $3,250,000 after buying an additional 3,931 shares in the last quarter. 99.12% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

Several analysts have recently issued reports on INVA shares. StockNews.com upgraded shares of Innoviva from a "hold" rating to a "buy" rating in a research report on Monday. Scotiabank initiated coverage on Innoviva in a research note on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 price objective for the company.

Innoviva Trading Up 0.2 %

INVA stock traded up $0.04 during mid-day trading on Wednesday, reaching $17.42. 792,379 shares of the stock traded hands, compared to its average volume of 589,262. The business has a 50-day moving average price of $18.02 and a two-hundred day moving average price of $18.67. The stock has a market capitalization of $1.09 billion, a PE ratio of 25.25 and a beta of 0.56. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.64 and a current ratio of 1.79. Innoviva, Inc. has a one year low of $14.33 and a one year high of $21.28.

Innoviva (NASDAQ:INVA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The biotechnology company reported $0.57 EPS for the quarter. The company 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%. Equities research analysts expect that Innoviva, Inc. will post 0.33 EPS for the current year.

Insider Transactions at Innoviva

In other news, major shareholder Alexander J. Denner sold 1,196,746 shares of the business's stock in a transaction on Thursday, March 6th. The shares were 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 of the company's stock, 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 this link. Company insiders own 1.70% of the company's 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.