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

Assetmark Inc. boosted its stake in shares of Innoviva, Inc. (NASDAQ:INVA) by 7.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 166,879 shares of the biotechnology company’s stock after buying an additional 11,989 shares during the period. Assetmark Inc.’s holdings in Innoviva were worth $2,895,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. US Bancorp DE grew 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 buying an additional 566 shares during the last quarter. KBC Group NV lifted its position in Innoviva by 73.9% in 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 in the last quarter. FMR LLC boosted its stake in Innoviva by 8.2% during 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 last quarter. Walleye Capital LLC bought a new stake in shares of Innoviva in the 3rd quarter worth $214,000. Finally, World Investment Advisors LLC purchased a new position in shares of Innoviva in the third quarter worth $217,000. Hedge funds and other institutional investors own 99.12% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on INVA. Scotiabank assumed coverage on Innoviva in a research report on Friday. They set a “sector outperform” rating and a $55.00 price objective on the stock. StockNews.com upgraded shares of Innoviva from a “hold” rating to a “buy” rating in a research note on Friday.

Insider Activity

In related news, major shareholder Alexander J. Denner sold 1,196,746 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were 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 in the company, valued at approximately $99,140,511.60. The trade was a 17.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.70% of the company’s stock.

Innoviva Trading Up 0.3 %

Shares of INVA stock opened at $17.64 on Monday. The stock has a market capitalization of $1.10 billion, a P/E ratio of 25.57 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. The firm’s 50 day moving average is $18.03 and its 200 day moving average is $18.82. Innoviva, Inc. has a 12-month low of $14.33 and a 12-month high of $21.28.

Innoviva (NASDAQ:INVA) last issued its quarterly earnings data on Wednesday, February 26th. The biotechnology company reported $0.57 EPS for the quarter. Innoviva had a return on equity of 20.84% and a net margin of 18.31%. The company had revenue of $91.81 million during the quarter. Research analysts expect that Innoviva, Inc. will post 0.33 earnings per share for the current 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.