Dimensional Fund Advisors LP Has $85.35 Million Stake in Innoviva, Inc. (NASDAQ:INVA)

Dimensional Fund Advisors LP boosted its position in shares of Innoviva, Inc. (NASDAQ:INVA - Free Report) by 4.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,919,518 shares of the biotechnology company's stock after purchasing an additional 226,592 shares during the period. Dimensional Fund Advisors LP owned about 7.86% of Innoviva worth $85,354,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. KBC Group NV raised its position in Innoviva by 73.9% in the 4th quarter. KBC Group NV now owns 4,100 shares of the biotechnology company's stock valued at $71,000 after buying an additional 1,743 shares during the last quarter. New Age Alpha Advisors LLC bought a new position in shares of Innoviva during the 4th quarter worth approximately $176,000. World Investment Advisors LLC acquired a new stake in shares of Innoviva in the third quarter valued at approximately $217,000. China Universal Asset Management Co. Ltd. lifted its position in shares of Innoviva by 10.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 13,274 shares of the biotechnology company's stock worth $230,000 after purchasing an additional 1,241 shares in the last quarter. Finally, Entropy Technologies LP acquired a new position in Innoviva during the fourth quarter worth $248,000. Institutional investors and hedge funds own 99.12% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. StockNews.com upgraded shares of Innoviva from a "hold" rating to a "buy" rating in a research note on Wednesday. Scotiabank started coverage on Innoviva in a research report on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 target price on the stock.

Innoviva Stock Up 0.4 %

Shares of NASDAQ INVA traded up $0.07 during trading hours on Friday, hitting $18.72. The company had a trading volume of 529,002 shares, compared to its average volume of 633,781. Innoviva, Inc. has a 1-year low of $15.07 and a 1-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 50 day moving average is $17.81 and its 200-day moving average is $18.38. The stock has a market capitalization of $1.17 billion, a P/E ratio of 27.13 and a beta of 0.48.

Innoviva (NASDAQ:INVA - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The biotechnology company reported $0.57 EPS for the quarter. The firm had revenue of $91.81 million during the quarter. Innoviva had a net margin of 18.31% and a return on equity of 20.84%. On average, analysts expect that Innoviva, Inc. will post 0.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Innoviva news, major shareholder Alexander J. Denner sold 1,196,746 shares of Innoviva stock in a transaction 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 transaction, the insider now directly owns 5,658,705 shares of the company's stock, valued at $99,140,511.60. The trade was 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. 2.25% of the stock is currently owned by corporate insiders.

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.