Innoviva, Inc. (NASDAQ:INVA) Shares Bought by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. lifted its position in shares of Innoviva, Inc. (NASDAQ:INVA) by 8.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 18,501 shares of the biotechnology company’s stock after acquiring an additional 1,381 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Innoviva were worth $321,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Intech Investment Management LLC lifted its position in Innoviva by 28.8% in the third quarter. Intech Investment Management LLC now owns 19,537 shares of the biotechnology company’s stock valued at $377,000 after buying an additional 4,367 shares during the last quarter. Quantbot Technologies LP lifted its holdings in shares of Innoviva by 171.5% in the 3rd quarter. Quantbot Technologies LP now owns 26,599 shares of the biotechnology company’s stock worth $514,000 after acquiring an additional 16,801 shares during the last quarter. FMR LLC lifted its holdings in shares of Innoviva by 8.2% in 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. Martingale Asset Management L P boosted its position in shares of Innoviva by 0.7% during the 3rd quarter. Martingale Asset Management L P now owns 77,842 shares of the biotechnology company’s stock worth $1,503,000 after purchasing an additional 550 shares during the period. Finally, Walleye Capital LLC purchased a new stake in Innoviva in the third quarter valued at approximately $214,000. Hedge funds and other institutional investors own 99.12% of the company’s stock.

Innoviva Price Performance

Shares of INVA opened at $17.38 on Wednesday. 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, Inc. has a fifty-two week low of $14.33 and a fifty-two week high of $21.28. The company has a market cap of $1.09 billion, a P/E ratio of 25.19 and a beta of 0.56. The firm’s 50 day moving average price is $18.02 and its 200 day moving average price is $18.67.

Innoviva (NASDAQ:INVA) last announced its quarterly earnings data on Wednesday, February 26th. The biotechnology company reported $0.57 earnings per share (EPS) for the quarter. The business 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%. On average, research analysts forecast that Innoviva, Inc. will post 0.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Innoviva

In other Innoviva news, major shareholder Alexander J. Denner sold 1,196,746 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $99,140,511.60. This represents a 17.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.70% of the stock is owned by corporate 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.