Innoviva, Inc. (NASDAQ:INVA) Shares Bought by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. boosted its position in shares of Innoviva, Inc. (NASDAQ:INVA - Free Report) by 355.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 296,238 shares of the biotechnology company's stock after acquiring an additional 231,238 shares during the period. Jefferies Financial Group Inc. owned about 0.47% of Innoviva worth $5,140,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. BOKF NA lifted its position in shares of Innoviva by 2.3% during the 4th quarter. BOKF NA now owns 28,648 shares of the biotechnology company's stock worth $495,000 after purchasing an additional 641 shares during the last quarter. Illinois Municipal Retirement Fund raised its stake in Innoviva by 2.8% in the fourth 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. China Universal Asset Management Co. Ltd. lifted its holdings 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 worth $230,000 after buying an additional 1,241 shares during the last quarter. Avantax Advisory Services Inc. boosted its position in shares of Innoviva by 8.1% during the 4th quarter. Avantax Advisory Services Inc. now owns 18,501 shares of the biotechnology company's stock worth $321,000 after acquiring an additional 1,381 shares in the last quarter. Finally, Sterling Capital Management LLC increased its holdings in shares of Innoviva by 6.8% in the 4th quarter. Sterling Capital Management LLC now owns 22,924 shares of the biotechnology company's stock valued at $398,000 after acquiring an additional 1,452 shares during the last quarter. 99.12% of the stock is owned by hedge funds and other institutional investors.

Innoviva Stock Performance

Shares of INVA stock traded up $0.25 during mid-day trading on Friday, hitting $18.58. 818,822 shares of the stock were exchanged, compared to its average volume of 632,598. Innoviva, Inc. has a 12-month low of $15.20 and a 12-month 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 stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 26.93 and a beta of 0.35. The stock's fifty day simple moving average is $17.96 and its two-hundred day simple moving average is $18.29.

Innoviva (NASDAQ:INVA - Get Free Report) last issued 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 return on equity of 20.84% and a net margin of 18.31%. On average, analysts forecast that Innoviva, Inc. will post 0.33 EPS for the current year.

Analyst Upgrades and Downgrades

INVA has been the topic of a number of recent analyst reports. StockNews.com upgraded Innoviva from a "hold" rating to a "buy" rating in a report on Wednesday, April 30th. Scotiabank initiated coverage on Innoviva in a report on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 price objective on the stock.

Insider Activity at Innoviva

In related news, major shareholder Alexander J. Denner sold 1,196,746 shares of the firm's stock in a transaction dated 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 transaction, the insider now owns 5,658,705 shares of the company's stock, valued at $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 available through this link. 2.25% of the stock is 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.