Fox Run Management L.L.C. Invests $378,000 in Innoviva, Inc. (NASDAQ:INVA)

Fox Run Management L.L.C. purchased a new position in Innoviva, Inc. (NASDAQ:INVA - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 21,804 shares of the biotechnology company's stock, valued at approximately $378,000.

A number of other large investors also recently added to or reduced their stakes in INVA. KBC Group NV lifted its holdings in shares of Innoviva by 73.9% in the fourth quarter. KBC Group NV now owns 4,100 shares of the biotechnology company's stock worth $71,000 after buying an additional 1,743 shares in the last quarter. FMR LLC lifted its stake in 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. Walleye Capital LLC bought a new position in shares of Innoviva during the 3rd quarter valued at about $214,000. World Investment Advisors LLC purchased a new position in shares of Innoviva during the third quarter valued at about $217,000. Finally, China Universal Asset Management Co. Ltd. increased its holdings 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. 99.12% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder Alexander J. Denner sold 151,175 shares of the firm's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $17.63, for a total value of $2,665,215.25. Following the completion of the sale, the insider now owns 7,125,825 shares in the company, valued at approximately $125,628,294.75. This trade represents a 2.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.70% of the company's stock.

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Analyst Upgrades and Downgrades

A number of equities analysts recently commented on INVA shares. Scotiabank assumed coverage on Innoviva in a research note on Friday, March 7th. They set a "sector outperform" rating and a $55.00 price target for the company. StockNews.com upgraded Innoviva from a "hold" rating to a "buy" rating in a research report on Monday, March 24th.

Innoviva Price Performance

Shares of Innoviva stock traded up $0.30 during trading hours on Friday, reaching $18.18. The company's stock had a trading volume of 829,709 shares, compared to its average volume of 616,706. The firm has a 50 day moving average price of $17.99 and a 200-day moving average price of $18.64. 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 stock has a market cap of $1.14 billion, a P/E ratio of 26.35 and a beta of 0.56. 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 data on Wednesday, February 26th. The biotechnology company reported $0.57 earnings per share for the quarter. Innoviva had a return on equity of 20.84% and a net margin of 18.31%. The company had revenue of $91.81 million for the quarter. On average, analysts predict that Innoviva, Inc. will post 0.33 EPS for the current year.

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.