Innoviva, Inc. (NASDAQ:INVA) Major Shareholder Sells $2,665,215.25 in Stock

Innoviva, Inc. (NASDAQ:INVA - Get Free Report) major shareholder Alexander J. Denner sold 151,175 shares of the company's stock in a transaction dated 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 completion of the transaction, the insider now directly 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

Innoviva Trading Down 0.9 %

NASDAQ:INVA traded down $0.16 during trading hours on Monday, hitting $17.48. 961,720 shares of the company were exchanged, compared to its average volume of 571,132. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 25.33 and a beta of 0.56. Innoviva, Inc. has a one year low of $14.33 and a one year high of $21.28. The company has a fifty day simple moving average of $18.03 and a 200 day simple moving average of $18.82. The company has a current ratio of 1.79, a quick ratio of 1.64 and a debt-to-equity ratio of 0.38.

Innoviva (NASDAQ:INVA - Get Free Report) last posted 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 company had revenue of $91.81 million for the quarter. Sell-side analysts expect that Innoviva, Inc. will post 0.33 EPS for the current fiscal year.

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Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. US Bancorp DE raised its stake in Innoviva by 24.5% during the third quarter. US Bancorp DE now owns 2,875 shares of the biotechnology company's stock worth $56,000 after buying an additional 566 shares during the last quarter. KBC Group NV grew its holdings in Innoviva by 73.9% during the 4th quarter. KBC Group NV now owns 4,100 shares of the biotechnology company's stock worth $71,000 after acquiring an additional 1,743 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Innoviva by 75.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,962 shares of the biotechnology company's stock worth $86,000 after acquiring an additional 2,128 shares in the last quarter. New Age Alpha Advisors LLC bought a new position in shares of Innoviva in the 4th quarter worth about $176,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Innoviva in the 4th quarter valued at about $184,000. Institutional investors and hedge funds own 99.12% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on INVA. StockNews.com upgraded Innoviva from a "hold" rating to a "buy" rating in a report on Friday. Scotiabank assumed coverage on shares of Innoviva in a report on Friday. They set a "sector outperform" rating and a $55.00 target price on the stock.

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.