Marshall Wace LLP boosted its stake in shares of Innoviva, Inc. (NASDAQ:INVA - Free Report) by 130.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 314,968 shares of the biotechnology company's stock after buying an additional 178,583 shares during the period. Marshall Wace LLP owned approximately 0.50% of Innoviva worth $5,465,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Innoviva by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 6,312,631 shares of the biotechnology company's stock valued at $109,524,000 after buying an additional 84,934 shares during the period. Pacer Advisors Inc. lifted its holdings in Innoviva by 4.3% in the fourth quarter. Pacer Advisors Inc. now owns 2,932,113 shares of the biotechnology company's stock valued at $50,872,000 after acquiring an additional 121,162 shares during the period. American Century Companies Inc. boosted its position in Innoviva by 35.2% in the fourth quarter. American Century Companies Inc. now owns 1,424,315 shares of the biotechnology company's stock worth $24,712,000 after purchasing an additional 370,795 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Innoviva by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,357,557 shares of the biotechnology company's stock valued at $26,219,000 after purchasing an additional 13,257 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Innoviva by 7.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,146,243 shares of the biotechnology company's stock valued at $19,887,000 after buying an additional 81,142 shares during the last quarter. Hedge funds and other institutional investors own 99.12% of the company's stock.
Insider Activity
In other Innoviva news, major shareholder Alexander J. Denner sold 1,196,746 shares of the 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.25% of the company's stock.
Innoviva Stock Up 1.1 %
Shares of INVA stock traded up $0.20 during trading hours on Tuesday, reaching $18.58. 55,121 shares of the company's stock were exchanged, compared to its average volume of 632,463. The company has a current ratio of 1.79, a quick ratio of 1.64 and a debt-to-equity ratio of 0.38. Innoviva, Inc. has a 1 year low of $14.95 and a 1 year high of $21.28. The stock has a market cap of $1.16 billion, a PE ratio of 26.91 and a beta of 0.48. The stock's fifty day moving average price is $17.76 and its two-hundred day moving average price is $18.39.
Innoviva (NASDAQ:INVA - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The biotechnology company reported $0.57 EPS for the quarter. The business had revenue of $91.81 million for the quarter. Innoviva had a net margin of 18.31% and a return on equity of 20.84%. Research analysts predict that Innoviva, Inc. will post 0.33 EPS for the current year.
Analysts Set New Price Targets
INVA has been the topic of several research analyst reports. Scotiabank initiated coverage on Innoviva in a research report on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 price objective on the stock. StockNews.com downgraded shares of Innoviva from a "buy" rating to a "hold" rating in a report on Tuesday, April 22nd.
View Our Latest Analysis on INVA
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.
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