Intech Investment Management LLC Has $609,000 Holdings in Innoviva, Inc. (NASDAQ:INVA)

Intech Investment Management LLC raised its position in shares of Innoviva, Inc. (NASDAQ:INVA) by 79.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,128 shares of the biotechnology company’s stock after buying an additional 15,591 shares during the period. Intech Investment Management LLC owned about 0.06% of Innoviva worth $609,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. KBC Group NV grew 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 worth $71,000 after acquiring an additional 1,743 shares during the last quarter. FMR LLC grew 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 during the last quarter. Walleye Capital LLC acquired a new stake in shares of Innoviva in the third quarter valued at approximately $214,000. World Investment Advisors LLC bought a new position in Innoviva in the 3rd quarter worth approximately $217,000. Finally, Caprock Group LLC bought a new position in Innoviva in the 3rd quarter worth approximately $229,000. Institutional investors own 99.12% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Scotiabank initiated coverage on Innoviva in a research note on Friday, March 7th. They issued a “sector outperform” rating and a $55.00 target price for the company. StockNews.com upgraded Innoviva from a “hold” rating to a “buy” rating in a research report on Monday.

Innoviva Trading Up 0.3 %

INVA opened at $17.33 on Tuesday. The firm’s fifty day moving average is $18.03 and its two-hundred day moving average is $18.68. The firm has a market cap of $1.09 billion, a PE ratio of 25.12 and a beta of 0.56. Innoviva, Inc. has a twelve month low of $14.33 and a twelve month high of $21.28. 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 earnings per share (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 during the quarter. Equities research analysts anticipate that Innoviva, Inc. will post 0.33 EPS for the current year.

Insiders Place Their Bets

In other Innoviva news, major shareholder Alexander J. Denner sold 1,196,746 shares of Innoviva stock in a transaction on Thursday, March 6th. The shares were 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 in the company, valued at approximately $99,140,511.60. The trade was a 17.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.70% of the company’s stock.

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.