Innoviva, Inc. (NASDAQ:INVA) Shares Bought by HighTower Advisors LLC

HighTower Advisors LLC lifted its holdings in Innoviva, Inc. (NASDAQ:INVA) by 11.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,617 shares of the biotechnology company’s stock after purchasing an additional 3,649 shares during the period. HighTower Advisors LLC’s holdings in Innoviva were worth $618,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. KBC Group NV raised its position 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 worth $71,000 after purchasing an additional 1,743 shares during the period. FMR LLC boosted its position in shares of Innoviva by 8.2% in the 3rd 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 period. Walleye Capital LLC purchased a new position in Innoviva in the 3rd quarter worth about $214,000. World Investment Advisors LLC acquired a new stake in Innoviva during the 3rd quarter worth about $217,000. Finally, China Universal Asset Management Co. Ltd. lifted its stake in Innoviva by 10.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 13,274 shares of the biotechnology company’s stock valued at $230,000 after buying an additional 1,241 shares in the last quarter. 99.12% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Innoviva

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 stock was sold at an average price of $17.52, for a total transaction of $20,966,989.92. Following the completion of the sale, the insider now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on INVA. Scotiabank assumed coverage on shares of Innoviva in a research report on Friday, March 7th. They issued a “sector outperform” rating and a $55.00 target price on the stock. StockNews.com upgraded shares of Innoviva from a “hold” rating to a “buy” rating in a research report on Monday, March 24th.

Innoviva Stock Up 1.7 %

NASDAQ:INVA opened at $18.18 on Friday. The business’s fifty day moving average price is $17.99 and its 200 day moving average price is $18.64. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 26.35 and a beta of 0.56. The company has a current ratio of 1.79, a quick ratio of 1.64 and a debt-to-equity ratio of 0.38. Innoviva, Inc. has a 1-year low of $14.33 and a 1-year high of $21.28.

Innoviva (NASDAQ:INVA) last issued its 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%. On average, sell-side analysts forecast that Innoviva, Inc. will post 0.33 earnings per share 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.