Vanguard Group Inc. lifted its stake in Innoviva, Inc. (NASDAQ:INVA - Free Report) by 1.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,312,631 shares of the biotechnology company's stock after purchasing an additional 84,934 shares during the quarter. Vanguard Group Inc. owned about 10.08% of Innoviva worth $109,524,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. FMR LLC lifted its holdings in shares of Innoviva by 8.2% during 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 in the last quarter. Illinois Municipal Retirement Fund raised its position in Innoviva by 2.8% in the 4th quarter. Illinois Municipal Retirement Fund now owns 29,066 shares of the biotechnology company's stock worth $504,000 after buying an additional 784 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in Innoviva by 10.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 13,274 shares of the biotechnology company's stock valued at $230,000 after acquiring an additional 1,241 shares during the period. Avantax Advisory Services Inc. boosted its holdings in shares of Innoviva by 8.1% during the 4th quarter. Avantax Advisory Services Inc. now owns 18,501 shares of the biotechnology company's stock valued at $321,000 after acquiring an additional 1,381 shares during the last quarter. Finally, Royce & Associates LP grew its stake in shares of Innoviva by 3.0% in the fourth quarter. Royce & Associates LP now owns 59,625 shares of the biotechnology company's stock worth $1,034,000 after acquiring an additional 1,717 shares during the period. 99.12% of the stock is owned by institutional investors.
Insider Buying and Selling
In other Innoviva news, major shareholder Alexander J. Denner sold 1,196,746 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $17.52, for a total value of $20,966,989.92. Following the completion of the sale, the insider now owns 5,658,705 shares in the company, valued at $99,140,511.60. This represents a 17.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.70% of the stock is owned by insiders.
Innoviva Stock Performance
Shares of NASDAQ INVA traded up $0.42 during midday trading on Friday, hitting $17.52. 886,422 shares of the company's stock traded hands, compared to its average volume of 629,479. The firm has a fifty day moving average of $17.73 and a 200 day moving average of $18.49. Innoviva, Inc. has a 1 year low of $14.33 and a 1 year high of $21.28. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.64 and a current ratio of 1.79. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 25.39 and a beta of 0.48.
Innoviva (NASDAQ:INVA - Get Free Report) last announced its earnings results on Wednesday, February 26th. The biotechnology company reported $0.57 EPS for the quarter. Innoviva had a net margin of 18.31% and a return on equity of 20.84%. The business had revenue of $91.81 million during the quarter. On average, analysts forecast that Innoviva, Inc. will post 0.33 earnings per share for the current year.
Analyst Ratings Changes
A number of research analysts recently weighed in on INVA shares. Scotiabank assumed coverage on shares of Innoviva in a research report on Friday, March 7th. They set a "sector outperform" rating and a $55.00 price objective on the stock. StockNews.com cut Innoviva from a "buy" rating to a "hold" rating in a report on Tuesday, April 1st.
View Our Latest Analysis on INVA
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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