Intech Investment Management LLC Boosts Stock Position in Innoviva, Inc. (NASDAQ:INVA)

Intech Investment Management LLC grew its position in Innoviva, Inc. (NASDAQ:INVA - Free Report) by 79.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,128 shares of the biotechnology company's stock after acquiring an additional 15,591 shares during the quarter. Intech Investment Management LLC owned about 0.06% of Innoviva worth $609,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Barclays PLC lifted its position in shares of Innoviva by 254.2% in the 3rd quarter. Barclays PLC now owns 100,594 shares of the biotechnology company's stock worth $1,942,000 after purchasing an additional 72,192 shares during the period. Jane Street Group LLC lifted its stake in shares of Innoviva by 46.4% during the 3rd quarter. Jane Street Group LLC now owns 136,361 shares of the biotechnology company's stock worth $2,633,000 after purchasing an additional 43,218 shares during the last quarter. FMR LLC grew its stake in Innoviva by 8.2% in the third 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 last quarter. Segall Bryant & Hamill LLC purchased a new stake in shares of Innoviva during the third quarter valued at about $715,000. Finally, JPMorgan Chase & Co. grew its position in shares of Innoviva by 14.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 578,243 shares of the biotechnology company's stock worth $11,166,000 after buying an additional 72,039 shares during the last quarter. 99.12% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling at Innoviva

In other Innoviva news, major shareholder Alexander J. Denner sold 151,175 shares of Innoviva stock in a transaction 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 completion of the transaction, the insider now 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.70% of the stock is currently owned by corporate insiders.

Innoviva Stock Performance

INVA traded up $0.11 during trading on Wednesday, reaching $17.49. 224,504 shares of the company's stock were exchanged, compared to its average volume of 587,095. The company's fifty day simple moving average is $18.02 and its 200-day simple moving average is $18.67. The stock has a market capitalization of $1.10 billion, a P/E ratio of 25.36 and a beta of 0.56. 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, Inc. has a 1 year low of $14.33 and a 1 year high of $21.28.

Innoviva (NASDAQ:INVA - Get Free Report) last released 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 business had revenue of $91.81 million during the quarter. As a group, research analysts predict that Innoviva, Inc. will post 0.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on INVA. StockNews.com upgraded Innoviva from a "hold" rating to a "buy" rating in a report on Monday. Scotiabank initiated coverage on shares of Innoviva in a report on Friday, March 7th. They set a "sector outperform" rating and a $55.00 price objective on the stock.

Innoviva Company 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.