Inceptionr LLC Acquires Shares of 16,542 Innoviva, Inc. (NASDAQ:INVA)

Inceptionr LLC bought a new position in Innoviva, Inc. (NASDAQ:INVA) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 16,542 shares of the biotechnology company’s stock, valued at approximately $287,000.

A number of other institutional investors also recently modified their holdings of the stock. Assetmark Inc. increased its stake in shares of Innoviva by 7.7% in the fourth quarter. Assetmark Inc. now owns 166,879 shares of the biotechnology company’s stock worth $2,895,000 after acquiring an additional 11,989 shares during the last quarter. Victory Capital Management Inc. increased its position in Innoviva by 26.3% in the 4th quarter. Victory Capital Management Inc. now owns 177,383 shares of the biotechnology company’s stock worth $3,078,000 after purchasing an additional 36,929 shares during the last quarter. QRG Capital Management Inc. raised its stake in shares of Innoviva by 4.4% during the 4th quarter. QRG Capital Management Inc. now owns 89,709 shares of the biotechnology company’s stock worth $1,556,000 after purchasing an additional 3,769 shares in the last quarter. Illinois Municipal Retirement Fund lifted its holdings in shares of Innoviva by 2.8% during the 4th 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 during the last quarter. Finally, Hussman Strategic Advisors Inc. lifted its holdings in shares of Innoviva by 33.3% during the 4th quarter. Hussman Strategic Advisors Inc. now owns 168,000 shares of the biotechnology company’s stock valued at $2,915,000 after buying an additional 42,000 shares during the last quarter. Institutional investors and hedge funds own 99.12% of the company’s stock.

Insider Activity at Innoviva

In other Innoviva news, major shareholder Alexander J. Denner sold 151,175 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $17.63, for a total transaction of $2,665,215.25. Following the completion of the sale, the insider now directly owns 7,125,825 shares in the company, valued at $125,628,294.75. This represents a 2.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.70% of the stock is currently owned by company insiders.

Innoviva Stock Performance

Shares of NASDAQ INVA opened at $17.64 on Monday. The business’s 50-day simple moving average is $18.03 and its 200-day simple moving average is $18.82. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.64 and a current ratio of 1.79. Innoviva, Inc. has a 52 week low of $14.33 and a 52 week high of $21.28. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 25.57 and a beta of 0.56.

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

Analyst Ratings Changes

Several research firms have commented on INVA. Scotiabank assumed coverage on shares of Innoviva in a research report on Friday. They issued a “sector outperform” rating and a $55.00 target price for the company. StockNews.com raised shares of Innoviva from a “hold” rating to a “buy” rating in a research note on Friday.

Innoviva Company 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.