Kendall Capital Management Sells 975 Shares of Innoviva, Inc. (NASDAQ:INVA)

Kendall Capital Management lowered its stake in Innoviva, Inc. (NASDAQ:INVA) by 2.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 33,615 shares of the biotechnology company’s stock after selling 975 shares during the quarter. Kendall Capital Management owned 0.05% of Innoviva worth $583,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. US Bancorp DE raised its holdings 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 acquiring an additional 566 shares in the last quarter. KBC Group NV raised its holdings in shares of Innoviva by 73.9% during the fourth 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 in the last quarter. FMR LLC raised its holdings 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 acquiring an additional 771 shares in the last quarter. Walleye Capital LLC bought a new position in shares of Innoviva during the third quarter valued at approximately $214,000. Finally, World Investment Advisors LLC bought a new position in shares of Innoviva during the third quarter valued at approximately $217,000. Institutional investors own 99.12% of the company’s stock.

Insider Transactions at Innoviva

In other news, major shareholder Alexander J. Denner sold 1,196,746 shares of the 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 sale, the insider now directly owns 5,658,705 shares of the company’s stock, valued at approximately $99,140,511.60. This represents a 17.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on INVA. StockNews.com upgraded Innoviva from a “hold” rating to a “buy” rating in a report on Friday. Scotiabank started coverage on Innoviva in a report on Friday. They set a “sector outperform” rating and a $55.00 target price for the company.

Innoviva Price Performance

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

Innoviva (NASDAQ:INVA) last issued its quarterly earnings results on Wednesday, February 26th. The biotechnology company reported $0.57 earnings per share for the quarter. The company had revenue of $91.81 million for the quarter. Innoviva had a return on equity of 20.84% and a net margin of 18.31%. Research analysts expect 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.