Bridgeway Capital Management LLC Has $3.23 Million Stock Holdings in Innoviva, Inc. (NASDAQ:INVA)

Bridgeway Capital Management LLC lowered its position in Innoviva, Inc. (NASDAQ:INVA - Free Report) by 42.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 185,859 shares of the biotechnology company's stock after selling 139,295 shares during the quarter. Bridgeway Capital Management LLC owned 0.30% of Innoviva worth $3,225,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in INVA. Barclays PLC grew its stake in Innoviva by 254.2% during the 3rd quarter. Barclays PLC now owns 100,594 shares of the biotechnology company's stock valued at $1,942,000 after purchasing an additional 72,192 shares in the last quarter. World Investment Advisors LLC bought a new position in Innoviva during the 3rd quarter worth approximately $217,000. JPMorgan Chase & Co. lifted its holdings in Innoviva by 14.2% during 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. CWA Asset Management Group LLC lifted its holdings in Innoviva by 29.1% during the 4th quarter. CWA Asset Management Group LLC now owns 38,355 shares of the biotechnology company's stock worth $665,000 after buying an additional 8,645 shares during the last quarter. Finally, Ritholtz Wealth Management lifted its holdings in Innoviva by 3.9% during the 4th quarter. Ritholtz Wealth Management now owns 74,439 shares of the biotechnology company's stock worth $1,292,000 after buying an additional 2,782 shares during the last quarter. Institutional investors and hedge funds own 99.12% of the company's stock.

Innoviva Stock Performance

Innoviva stock traded up $0.05 during mid-day trading on Monday, hitting $18.61. 546,033 shares of the company's stock traded hands, compared to its average volume of 634,692. The firm has a 50 day moving average price of $17.92 and a 200 day moving average price of $18.30. The company has a quick ratio of 1.64, a current ratio of 1.79 and a debt-to-equity ratio of 0.38. The company has a market cap of $1.17 billion, a PE ratio of 26.97 and a beta of 0.35. Innoviva, Inc. has a one year low of $15.20 and a one year high of $21.28.

Innoviva (NASDAQ:INVA - Get Free Report) last announced its earnings results on Wednesday, May 7th. The biotechnology company reported $0.25 earnings per share for the quarter. The firm had revenue of $88.63 million for the quarter. Innoviva had a return on equity of 20.84% and a net margin of 18.31%. On average, equities analysts forecast 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 1,196,746 shares of the business's stock in a transaction on 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 sale, the insider now owns 5,658,705 shares of the company's stock, valued at approximately $99,140,511.60. The trade was a 17.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.25% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. StockNews.com raised Innoviva from a "hold" rating to a "buy" rating in a report on Wednesday, April 30th. Scotiabank started coverage on shares of Innoviva in a research note on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 price target on the stock.

Innoviva 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.