Nuveen Asset Management LLC grew its holdings in Innoviva, Inc. (NASDAQ:INVA - Free Report) by 87.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 306,562 shares of the biotechnology company's stock after buying an additional 142,886 shares during the quarter. Nuveen Asset Management LLC owned 0.49% of Innoviva worth $5,319,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the business. BOKF NA raised its stake in shares of Innoviva by 2.3% in the 4th quarter. BOKF NA now owns 28,648 shares of the biotechnology company's stock valued at $495,000 after buying an additional 641 shares in the last quarter. Illinois Municipal Retirement Fund raised its stake in shares of Innoviva by 2.8% in the 4th 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Innoviva by 3.8% in 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 buying an additional 1,162 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of Innoviva by 10.3% in 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 buying an additional 1,241 shares in the last quarter. Finally, Avantax Advisory Services Inc. raised its stake in shares of Innoviva by 8.1% in the 4th 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 in the last quarter. Institutional investors and hedge funds own 99.12% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on INVA shares. Wall Street Zen upgraded shares of Innoviva from a "hold" rating to a "buy" rating in a research note on Wednesday, April 30th. Scotiabank assumed coverage on shares of Innoviva in a research note on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 price objective for the company.
Read Our Latest Stock Analysis on INVA
Innoviva Price Performance
Shares of NASDAQ INVA traded up $0.28 during mid-day trading on Wednesday, hitting $20.88. 1,310,001 shares of the stock were exchanged, compared to its average volume of 655,496. The company has a market cap of $1.31 billion, a P/E ratio of 30.26 and a beta of 0.37. The stock's fifty day simple moving average is $18.48 and its two-hundred day simple moving average is $18.25. 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, Inc. has a twelve month low of $15.56 and a twelve month high of $21.28.
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 company 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%. As a group, 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 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 completion of the sale, the insider now owns 5,658,705 shares of the company's stock, valued at approximately $99,140,511.60. This trade represents a 17.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 2.25% of the company's stock.
About Innoviva
(
Free Report)
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.
Read More
Before you consider Innoviva, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Innoviva wasn't on the list.
While Innoviva currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
