Jefferies Financial Group Inc. Acquires 231,238 Shares of Innoviva, Inc. (NASDAQ:INVA)

Jefferies Financial Group Inc. raised its holdings in shares of Innoviva, Inc. (NASDAQ:INVA - Free Report) by 355.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 296,238 shares of the biotechnology company's stock after buying an additional 231,238 shares during the quarter. Jefferies Financial Group Inc. owned about 0.47% of Innoviva worth $5,140,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Innoviva by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 6,312,631 shares of the biotechnology company's stock worth $109,524,000 after buying an additional 84,934 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Innoviva by 4.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,919,518 shares of the biotechnology company's stock worth $85,354,000 after purchasing an additional 226,592 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Innoviva by 4.3% in the 4th quarter. Pacer Advisors Inc. now owns 2,932,113 shares of the biotechnology company's stock worth $50,872,000 after purchasing an additional 121,162 shares in the last quarter. Systematic Financial Management LP boosted its holdings in shares of Innoviva by 2.5% in the 4th quarter. Systematic Financial Management LP now owns 2,029,069 shares of the biotechnology company's stock worth $35,204,000 after purchasing an additional 49,996 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of Innoviva by 35.2% in the 4th quarter. American Century Companies Inc. now owns 1,424,315 shares of the biotechnology company's stock worth $24,712,000 after purchasing an additional 370,795 shares in the last quarter. 99.12% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder Alexander J. Denner sold 1,196,746 shares of the business'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 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 legal filing with the SEC, which is accessible through this link. 2.25% of the stock is currently owned by corporate insiders.

Innoviva Trading Down 0.2%

Shares of NASDAQ INVA traded down $0.03 during midday trading on Wednesday, reaching $19.12. The company had a trading volume of 836,010 shares, compared to its average volume of 641,422. Innoviva, Inc. has a one year low of $15.20 and a one year high of $21.28. 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 firm's fifty day moving average price is $18.23 and its 200-day moving average price is $18.24. The stock has a market cap of $1.20 billion, a PE ratio of 27.71 and a beta of 0.35.

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 company had revenue of $88.63 million during the quarter. On average, equities research analysts anticipate that Innoviva, Inc. will post 0.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

INVA has been the subject of a number of research reports. Wall Street Zen upgraded Innoviva from a "hold" rating to a "buy" rating in a report on Wednesday, April 30th. Scotiabank initiated coverage on Innoviva in a report on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 price objective for the company.

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.