Inceptionr LLC Buys Shares of 16,542 Innoviva, Inc. (NASDAQ:INVA)

Inceptionr LLC bought a new position in Innoviva, Inc. (NASDAQ:INVA - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 16,542 shares of the biotechnology company's stock, valued at approximately $287,000.

Several other large investors have also modified their holdings of the stock. US Bancorp DE increased its holdings in Innoviva by 24.5% in the third quarter. US Bancorp DE now owns 2,875 shares of the biotechnology company's stock valued at $56,000 after buying an additional 566 shares during the last quarter. CWA Asset Management Group LLC acquired a new position in shares of Innoviva in the 3rd quarter worth approximately $574,000. Assetmark Inc. raised its position in shares of Innoviva by 4.9% during the 3rd quarter. Assetmark Inc. now owns 154,890 shares of the biotechnology company's stock valued at $2,991,000 after acquiring an additional 7,168 shares in the last quarter. Los Angeles Capital Management LLC boosted its holdings in Innoviva by 79.7% in the third quarter. Los Angeles Capital Management LLC now owns 40,735 shares of the biotechnology company's stock worth $787,000 after purchasing an additional 18,071 shares during the period. Finally, Victory Capital Management Inc. raised its stake in Innoviva by 3.5% during the third quarter. Victory Capital Management Inc. now owns 140,454 shares of the biotechnology company's stock worth $2,712,000 after acquiring an additional 4,699 shares during the period. Institutional investors own 99.12% of the company's stock.

Innoviva Stock Performance

INVA stock traded down $0.02 during trading on Thursday, reaching $17.39. 3,274,780 shares of the company's stock were exchanged, compared to its average volume of 585,077. Innoviva, Inc. has a 1-year low of $14.33 and a 1-year high of $21.28. The firm has a market cap of $1.09 billion, a PE ratio of 25.20 and a beta of 0.56. The company's fifty day moving average price is $18.04 and its 200-day moving average price is $18.80. The company has a quick ratio of 1.64, a current ratio of 1.79 and a debt-to-equity ratio of 0.38.

Remove Ads

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 firm 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%. On average, research analysts expect that Innoviva, Inc. will post 0.33 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Alexander J. Denner sold 151,175 shares of the business's stock in a transaction that occurred on 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 sale, the insider now directly owns 7,125,825 shares in the company, valued at $125,628,294.75. The trade was a 2.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on INVA shares. StockNews.com upgraded Innoviva from a "hold" rating to a "buy" rating in a research note on Friday, March 7th. Scotiabank began coverage on Innoviva in a research note 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.