Northern Trust Corp Has $11.78 Million Stock Position in Innoviva, Inc. (NASDAQ:INVA)

Northern Trust Corp raised its holdings in shares of Innoviva, Inc. (NASDAQ:INVA - Free Report) by 4.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 679,044 shares of the biotechnology company's stock after purchasing an additional 26,429 shares during the period. Northern Trust Corp owned 1.08% of Innoviva worth $11,781,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Aquatic Capital Management LLC increased its stake in shares of Innoviva by 13.6% in the 4th quarter. Aquatic Capital Management LLC now owns 37,041 shares of the biotechnology company's stock valued at $643,000 after acquiring an additional 4,441 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Innoviva in the 4th quarter valued at about $279,000. Price T Rowe Associates Inc. MD increased its stake in shares of Innoviva by 12.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 62,633 shares of the biotechnology company's stock valued at $1,087,000 after acquiring an additional 6,927 shares during the last quarter. Hsbc Holdings PLC bought a new stake in shares of Innoviva in the 4th quarter valued at about $5,437,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Innoviva by 75.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,962 shares of the biotechnology company's stock valued at $86,000 after acquiring an additional 2,128 shares during the last quarter. 99.12% of the stock is owned by institutional investors.

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 stock was 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 owns 5,658,705 shares of the company's stock, valued at $99,140,511.60. This represents a 17.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.25% of the company's stock.

Innoviva Stock Down 0.7%

NASDAQ INVA traded down $0.13 during trading hours on Thursday, reaching $18.82. 533,711 shares of the company's stock were exchanged, compared to its average volume of 634,586. The company's 50-day moving average is $18.08 and its two-hundred day moving average is $18.26. Innoviva, Inc. has a one year low of $15.20 and a one year high of $21.28. 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 market capitalization of $1.18 billion, a price-to-earnings ratio of 27.28 and a beta of 0.35.

Innoviva (NASDAQ:INVA - Get Free Report) last posted its earnings results on Wednesday, May 7th. The biotechnology company reported $0.25 earnings per share (EPS) for the quarter. Innoviva had a return on equity of 20.84% and a net margin of 18.31%. The business had revenue of $88.63 million during the quarter. On average, analysts forecast that Innoviva, Inc. will post 0.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.