Man Group plc Increases Stock Holdings in Innoviva, Inc. (NASDAQ:INVA)

Man Group plc boosted its holdings in shares of Innoviva, Inc. (NASDAQ:INVA - Free Report) by 20.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 486,869 shares of the biotechnology company's stock after acquiring an additional 81,891 shares during the quarter. Man Group plc owned 0.78% of Innoviva worth $8,447,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. BOKF NA raised its position in Innoviva by 2.3% during the 4th quarter. BOKF NA now owns 28,648 shares of the biotechnology company's stock valued at $495,000 after purchasing an additional 641 shares in the last quarter. Illinois Municipal Retirement Fund raised 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Innoviva by 3.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,490 shares of the biotechnology company's stock valued at $546,000 after purchasing an additional 1,162 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position 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 in the last quarter. Finally, Avantax Advisory Services Inc. raised its position in Innoviva by 8.1% during the 4th quarter. Avantax Advisory Services Inc. now owns 18,501 shares of the biotechnology company's stock valued at $321,000 after purchasing an additional 1,381 shares in the last quarter. Hedge funds and other institutional investors own 99.12% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on INVA shares. Wall Street Zen raised Innoviva from a "hold" rating to a "buy" rating in a research report on Wednesday, April 30th. Scotiabank started coverage on Innoviva in a research report on Friday, March 7th. They set a "sector outperform" rating and a $55.00 target price for the company.

Innoviva Stock Up 0.7%

NASDAQ INVA traded up $0.14 on Friday, reaching $18.96. 223,739 shares of the stock traded hands, compared to its average volume of 632,993. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.64 and a current ratio of 1.79. The company has a fifty day moving average price of $18.08 and a 200-day moving average price of $18.26. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 27.47 and a beta of 0.35. Innoviva, Inc. has a 12 month low of $15.20 and a 12 month high of $21.28.

Innoviva (NASDAQ:INVA - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The biotechnology company reported $0.25 EPS for the quarter. The firm had revenue of $88.63 million during the quarter. Innoviva had a return on equity of 20.84% and a net margin of 18.31%. As a group, research analysts forecast that Innoviva, Inc. will post 0.33 EPS for the current fiscal 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 completion of the transaction, the insider now directly 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. Corporate insiders own 2.25% of the company's stock.

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.