Assetmark Inc. Acquires 11,989 Shares of Innoviva, Inc. (NASDAQ:INVA)

Assetmark Inc. lifted its holdings in shares of Innoviva, Inc. (NASDAQ:INVA) by 7.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 166,879 shares of the biotechnology company’s stock after purchasing an additional 11,989 shares during the period. Assetmark Inc. owned about 0.27% of Innoviva worth $2,895,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. US Bancorp DE grew its stake in shares of Innoviva by 24.5% during the third quarter. US Bancorp DE now owns 2,875 shares of the biotechnology company’s stock valued at $56,000 after buying an additional 566 shares during the last quarter. KBC Group NV boosted its holdings in Innoviva by 73.9% during the 4th quarter. KBC Group NV now owns 4,100 shares of the biotechnology company’s stock valued at $71,000 after acquiring an additional 1,743 shares during the period. FMR LLC grew its position in Innoviva by 8.2% during the 3rd quarter. FMR LLC now owns 10,119 shares of the biotechnology company’s stock worth $195,000 after acquiring an additional 771 shares during the last quarter. Walleye Capital LLC bought a new position in Innoviva during the 3rd quarter worth approximately $214,000. Finally, World Investment Advisors LLC bought a new stake in Innoviva in the third quarter valued at approximately $217,000. Hedge funds and other institutional investors own 99.12% of the company’s stock.

Innoviva Trading Up 0.3 %

NASDAQ INVA opened at $17.64 on Monday. The stock has a market cap of $1.10 billion, a P/E ratio of 25.57 and a beta of 0.56. Innoviva, Inc. has a fifty-two week low of $14.33 and a fifty-two week high of $21.28. The stock has a 50 day simple moving average of $18.03 and a two-hundred day simple moving average of $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 (NASDAQ:INVA) last posted its earnings results on Wednesday, February 26th. The biotechnology company reported $0.57 EPS for the quarter. The firm had revenue of $91.81 million during the quarter. Innoviva had a net margin of 18.31% and a return on equity of 20.84%. On average, analysts forecast that Innoviva, Inc. will post 0.33 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on INVA shares. Scotiabank began coverage on shares of Innoviva in a report on Friday. They issued a “sector outperform” rating and a $55.00 target price on the stock. StockNews.com raised shares of Innoviva from a “hold” rating to a “buy” rating in a report on Friday.

Insiders Place Their Bets

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