Nuveen Asset Management LLC Has $5.32 Million Stake in Innoviva, Inc. (NASDAQ:INVA)

Nuveen Asset Management LLC grew its position in Innoviva, Inc. (NASDAQ:INVA - Free Report) by 87.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 306,562 shares of the biotechnology company's stock after purchasing an additional 142,886 shares during the period. Nuveen Asset Management LLC owned about 0.49% of Innoviva worth $5,319,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. American Century Companies Inc. lifted its holdings in Innoviva by 35.2% during the 4th quarter. American Century Companies Inc. now owns 1,424,315 shares of the biotechnology company's stock valued at $24,712,000 after purchasing an additional 370,795 shares during the last quarter. Millennium Management LLC raised its stake in shares of Innoviva by 426.4% in the fourth quarter. Millennium Management LLC now owns 400,613 shares of the biotechnology company's stock valued at $6,951,000 after acquiring an additional 324,515 shares during the last quarter. Hsbc Holdings PLC acquired a new position in shares of Innoviva in the 4th quarter worth approximately $5,437,000. Jefferies Financial Group Inc. grew its position in Innoviva by 355.8% during the 4th quarter. Jefferies Financial Group Inc. now owns 296,238 shares of the biotechnology company's stock worth $5,140,000 after acquiring an additional 231,238 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Innoviva by 4.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,919,518 shares of the biotechnology company's stock valued at $85,354,000 after purchasing an additional 226,592 shares in the last quarter. Institutional investors own 99.12% of the company's stock.

Innoviva Price Performance

Shares of INVA stock traded up $0.09 during trading hours on Wednesday, reaching $20.69. 168,306 shares of the company were exchanged, compared to its average volume of 649,921. Innoviva, Inc. has a fifty-two week low of $15.56 and a fifty-two week high of $21.28. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.79 and a quick ratio of 1.64. The stock's fifty day moving average is $18.42 and its two-hundred day moving average is $18.23. The company has a market cap of $1.30 billion, a price-to-earnings ratio of 30.01 and a beta of 0.37.

Innoviva (NASDAQ:INVA - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The biotechnology company reported $0.25 earnings per share for the quarter. The firm 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%. Sell-side analysts forecast that Innoviva, Inc. will post 0.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, major shareholder Alexander J. Denner sold 1,196,746 shares of Innoviva 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 completion of the sale, the insider now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.25% of the stock is currently 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.