Innoviva, Inc. (NASDAQ:INVA) Stock Position Lowered by Comerica Bank

Comerica Bank reduced its stake in Innoviva, Inc. (NASDAQ:INVA - Free Report) by 87.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,269 shares of the biotechnology company's stock after selling 141,150 shares during the period. Comerica Bank's holdings in Innoviva were worth $352,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. KBC Group NV grew its stake 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 buying an additional 1,743 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings 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 during the period. New Age Alpha Advisors LLC bought a new stake in Innoviva in the 4th quarter valued at about $176,000. China Universal Asset Management Co. Ltd. boosted 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 purchasing an additional 1,241 shares during the period. Finally, Entropy Technologies LP bought a new position in Innoviva in the 4th quarter worth about $248,000. 99.12% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

INVA has been the topic of a number of recent analyst reports. StockNews.com raised Innoviva from a "hold" rating to a "buy" rating in a report on Wednesday, April 30th. Scotiabank assumed coverage on Innoviva in a research note on Friday, March 7th. They set a "sector outperform" rating and a $55.00 target price on the stock.

Insider Buying and Selling at Innoviva

In related news, major shareholder Alexander J. Denner sold 1,196,746 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $17.52, for a total value of $20,966,989.92. Following the sale, the insider now directly owns 5,658,705 shares in the company, valued at $99,140,511.60. The trade was a 17.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.25% of the stock is owned by corporate insiders.

Innoviva Price Performance

Shares of INVA stock traded up $0.15 during midday trading on Tuesday, reaching $18.78. 637,408 shares of the company were exchanged, compared to its average volume of 632,078. The company's 50 day moving average price is $18.00 and its two-hundred day moving average price is $18.25. The company has a market cap of $1.18 billion, a P/E ratio of 27.22 and a beta of 0.35. Innoviva, Inc. has a 12 month low of $15.20 and a 12 month 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.

Innoviva (NASDAQ:INVA - Get Free Report) last released its earnings results on Wednesday, May 7th. The biotechnology company reported $0.25 earnings per share for the quarter. Innoviva had a return on equity of 20.84% and a net margin of 18.31%. The firm had revenue of $88.63 million during the quarter. On average, sell-side analysts expect that Innoviva, Inc. will post 0.33 earnings per share for the current year.

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.