43,225 Shares in Innoviva, Inc. (NASDAQ:INVA) Purchased by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd acquired a new stake in shares of Innoviva, Inc. (NASDAQ:INVA - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 43,225 shares of the biotechnology company's stock, valued at approximately $750,000. Dynamic Technology Lab Private Ltd owned about 0.07% of Innoviva as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of INVA. FMR LLC boosted 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 acquiring an additional 771 shares during the period. Illinois Municipal Retirement Fund boosted its position in Innoviva by 2.8% during the 4th quarter. Illinois Municipal Retirement Fund now owns 29,066 shares of the biotechnology company's stock valued at $504,000 after purchasing an additional 784 shares during the period. China Universal Asset Management Co. Ltd. grew 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 worth $230,000 after buying an additional 1,241 shares during the last quarter. Avantax Advisory Services Inc. increased its position in Innoviva by 8.1% in the fourth quarter. Avantax Advisory Services Inc. now owns 18,501 shares of the biotechnology company's stock worth $321,000 after buying an additional 1,381 shares during the period. Finally, Royce & Associates LP increased its position in 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 buying an additional 1,717 shares during the period. Institutional investors and hedge funds own 99.12% of the company's stock.

Innoviva Stock Performance

INVA traded up $0.52 during trading hours on Friday, hitting $17.62. The company's stock had a trading volume of 128,579 shares, compared to its average volume of 624,700. The company has a current ratio of 1.79, a quick ratio of 1.64 and a debt-to-equity ratio of 0.38. Innoviva, Inc. has a fifty-two week low of $14.33 and a fifty-two week high of $21.28. The company has a 50-day simple moving average of $17.75 and a 200 day simple moving average of $18.50. The firm has a market capitalization of $1.10 billion, a PE ratio of 25.49 and a beta of 0.48.

Innoviva (NASDAQ:INVA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The biotechnology company reported $0.57 EPS for the quarter. The company had revenue of $91.81 million for the quarter. Innoviva had a return on equity of 20.84% and a net margin of 18.31%. As a group, sell-side analysts expect that Innoviva, Inc. will post 0.33 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Scotiabank began coverage on shares of Innoviva in a research report on Friday, March 7th. They set a "sector outperform" rating and a $55.00 price target for the company. StockNews.com lowered shares of Innoviva from a "buy" rating to a "hold" rating in a research note on Tuesday, April 1st.

Insiders Place Their Bets

In related news, major shareholder Alexander J. Denner sold 1,196,746 shares of the firm'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 transaction of $20,966,989.92. Following the transaction, the insider now owns 5,658,705 shares in the company, valued at $99,140,511.60. This trade represents a 17.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is owned by insiders.

About Innoviva

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.