Systematic Financial Management LP Has $35.20 Million Holdings in Innoviva, Inc. (NASDAQ:INVA)

Systematic Financial Management LP lifted its position in shares of Innoviva, Inc. (NASDAQ:INVA - Free Report) by 2.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,029,069 shares of the biotechnology company's stock after acquiring an additional 49,996 shares during the quarter. Systematic Financial Management LP owned approximately 3.24% of Innoviva worth $35,204,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in INVA. KBC Group NV raised its stake in Innoviva by 73.9% in the fourth 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 period. Tower Research Capital LLC TRC lifted 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. New Age Alpha Advisors LLC acquired a new position in Innoviva during the 4th quarter worth about $176,000. Cubist Systematic Strategies LLC bought a new stake in Innoviva in the 4th quarter valued at about $184,000. Finally, Bridgefront Capital LLC bought a new stake in Innoviva during the 4th quarter worth approximately $229,000. 99.12% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently issued reports on INVA. StockNews.com upgraded Innoviva from a "hold" rating to a "buy" rating in a research note on Wednesday, April 30th. Scotiabank started coverage on Innoviva in a research note on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 price target on the stock.

Insider Activity at Innoviva

In related news, major shareholder Alexander J. Denner sold 1,196,746 shares of the company's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $17.52, for a total value of $20,966,989.92. Following the transaction, the insider now directly 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 Securities & Exchange Commission, which is available at this hyperlink. 2.25% of the stock is owned by company insiders.

Innoviva Trading Up 1.4%

Shares of INVA stock opened at $18.58 on Friday. Innoviva, Inc. has a 12-month low of $15.20 and a 12-month high of $21.28. The company has a current ratio of 1.79, a quick ratio of 1.64 and a debt-to-equity ratio of 0.38. The stock's 50-day moving average price is $17.97 and its 200-day moving average price is $18.28. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 26.93 and a beta of 0.35.

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. Innoviva had a return on equity of 20.84% and a net margin of 18.31%. The company had revenue of $88.63 million for the quarter. Equities research analysts predict that Innoviva, Inc. will post 0.33 EPS for the current fiscal year.

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.

Want to see what other hedge funds are holding INVA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Innoviva, Inc. (NASDAQ:INVA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.