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

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

Several other hedge funds have also recently made changes to their positions in the stock. BOKF NA raised its holdings in shares of Innoviva by 2.3% during the fourth quarter. BOKF NA now owns 28,648 shares of the biotechnology company's stock valued at $495,000 after purchasing an additional 641 shares during the last quarter. Illinois Municipal Retirement Fund increased its holdings in Innoviva by 2.8% during the fourth quarter. Illinois Municipal Retirement Fund now owns 29,066 shares of the biotechnology company's stock valued at $504,000 after buying an additional 784 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Innoviva by 3.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,490 shares of the biotechnology company's stock valued at $546,000 after buying an additional 1,162 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in Innoviva by 10.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 13,274 shares of the biotechnology company's stock valued at $230,000 after buying an additional 1,241 shares during the last quarter. Finally, Avantax Advisory Services Inc. increased its holdings in Innoviva by 8.1% during the fourth quarter. Avantax Advisory Services Inc. now owns 18,501 shares of the biotechnology company's stock valued at $321,000 after buying an additional 1,381 shares during the last quarter. 99.12% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other Innoviva news, major shareholder Alexander J. Denner sold 1,196,746 shares of the company'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 completion of the transaction, the insider now directly 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.25% of the company's stock.

Innoviva Price Performance

Shares of INVA traded up $0.15 during mid-day trading on Friday, reaching $19.64. The stock had a trading volume of 872,004 shares, compared to its average volume of 644,935. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of 28.46 and a beta of 0.35. Innoviva, Inc. has a 12 month low of $15.37 and a 12 month high of $21.28. The business has a fifty day moving average of $18.32 and a 200 day moving average of $18.23. 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 posted its quarterly earnings results on Wednesday, May 7th. The biotechnology company reported $0.25 earnings per share for the quarter. The business had revenue of $88.63 million during the quarter. Innoviva had a net margin of 18.31% and a return on equity of 20.84%. Equities analysts predict that Innoviva, Inc. will post 0.33 EPS 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.