Intech Investment Management LLC boosted its position in shares of Innoviva, Inc. (NASDAQ:INVA - Free Report) by 79.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,128 shares of the biotechnology company's stock after purchasing an additional 15,591 shares during the quarter. Intech Investment Management LLC owned about 0.06% of Innoviva worth $609,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of INVA. Caprock Group LLC bought a new position in shares of Innoviva during the 3rd quarter worth $229,000. Segall Bryant & Hamill LLC purchased a new stake in Innoviva in the third quarter worth about $715,000. Quantbot Technologies LP grew its holdings in Innoviva by 171.5% during the 3rd quarter. Quantbot Technologies LP now owns 26,599 shares of the biotechnology company's stock worth $514,000 after acquiring an additional 16,801 shares in the last quarter. FMR LLC increased its position in Innoviva by 8.2% during the 3rd quarter. FMR LLC now owns 10,119 shares of the biotechnology company's stock valued at $195,000 after purchasing an additional 771 shares during the period. Finally, Martingale Asset Management L P increased its position in Innoviva by 0.7% during the 3rd quarter. Martingale Asset Management L P now owns 77,842 shares of the biotechnology company's stock valued at $1,503,000 after purchasing an additional 550 shares during the period. 99.12% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research firms have recently issued reports on INVA. StockNews.com upgraded shares of Innoviva from a "hold" rating to a "buy" rating in a research note on Monday. Scotiabank initiated coverage on Innoviva in a report on Friday, March 7th. They set a "sector outperform" rating and a $55.00 target price for the company.
Check Out Our Latest Report on Innoviva
Innoviva Stock Up 1.7 %
Innoviva stock traded up $0.30 during trading hours on Friday, reaching $18.18. The stock had a trading volume of 829,709 shares, compared to its average volume of 616,202. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 26.35 and a beta of 0.56. The business's 50 day moving average price is $17.99 and its 200-day moving average price is $18.65. Innoviva, Inc. has a 52 week low of $14.33 and a 52 week high of $21.28. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.79 and a quick ratio of 1.64.
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 (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 for the quarter. Sell-side analysts anticipate 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 151,175 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $17.63, for a total transaction of $2,665,215.25. Following the sale, the insider now owns 7,125,825 shares in the company, valued at approximately $125,628,294.75. The trade was a 2.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.70% of the company's stock.
About Innoviva
(
Free Report)
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.
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