Royce & Associates LP Boosts Holdings in Innoviva, Inc. (NASDAQ:INVA)

Royce & Associates LP increased its stake in Innoviva, Inc. (NASDAQ:INVA) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,625 shares of the biotechnology company’s stock after buying an additional 1,717 shares during the period. Royce & Associates LP’s holdings in Innoviva were worth $1,034,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of INVA. Barclays PLC grew its position in shares of Innoviva by 254.2% in the 3rd quarter. Barclays PLC now owns 100,594 shares of the biotechnology company’s stock worth $1,942,000 after buying an additional 72,192 shares during the period. Jane Street Group LLC grew its holdings in Innoviva by 46.4% in the third quarter. Jane Street Group LLC now owns 136,361 shares of the biotechnology company’s stock worth $2,633,000 after purchasing an additional 43,218 shares during the period. FMR LLC increased its stake in shares of Innoviva by 8.2% during the third quarter. FMR LLC now owns 10,119 shares of the biotechnology company’s stock valued at $195,000 after purchasing an additional 771 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new position in shares of Innoviva during the third quarter valued at approximately $715,000. Finally, Victory Capital Management Inc. boosted its position in shares of Innoviva by 3.5% in the 3rd quarter. Victory Capital Management Inc. now owns 140,454 shares of the biotechnology company’s stock worth $2,712,000 after purchasing an additional 4,699 shares in the last quarter. 99.12% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, major shareholder Alexander J. Denner sold 1,196,746 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $17.52, for a total transaction of $20,966,989.92. Following the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.70% of the stock is owned by corporate insiders.

Innoviva Trading Up 0.3 %

Shares of NASDAQ INVA opened at $17.27 on Friday. The company has a market cap of $1.08 billion, a PE ratio of 25.03 and a beta of 0.56. 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 firm’s 50 day moving average price is $18.04 and its 200-day moving average price is $18.71. Innoviva, Inc. has a 52-week low of $14.33 and a 52-week high of $21.28.

Innoviva (NASDAQ:INVA) last issued its 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 business had revenue of $91.81 million for the quarter. On average, equities research analysts expect that Innoviva, Inc. will post 0.33 EPS for the current fiscal year.

Analysts Set New Price Targets

INVA has been the subject of a number of analyst reports. StockNews.com lowered Innoviva from a “buy” rating to a “hold” rating in a research report on Saturday, March 15th. Scotiabank assumed coverage on Innoviva in a research report on Friday, March 7th. They issued a “sector outperform” rating and a $55.00 price target for the company.

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.