Inceptionr LLC Buys New Shares in Innoviva, Inc. (NASDAQ:INVA)

Inceptionr LLC purchased a new position in Innoviva, Inc. (NASDAQ:INVA) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 16,542 shares of the biotechnology company’s stock, valued at approximately $287,000.

Several other institutional investors and hedge funds also recently made changes to their positions in INVA. US Bancorp DE grew its position in Innoviva by 24.5% during the third quarter. US Bancorp DE now owns 2,875 shares of the biotechnology company’s stock worth $56,000 after buying an additional 566 shares in the last quarter. CWA Asset Management Group LLC acquired a new stake in shares of Innoviva during the 3rd quarter worth approximately $574,000. Assetmark Inc. increased its position in shares of Innoviva by 4.9% during the third quarter. Assetmark Inc. now owns 154,890 shares of the biotechnology company’s stock valued at $2,991,000 after purchasing an additional 7,168 shares during the period. Los Angeles Capital Management LLC raised its stake in shares of Innoviva by 79.7% in the third quarter. Los Angeles Capital Management LLC now owns 40,735 shares of the biotechnology company’s stock valued at $787,000 after purchasing an additional 18,071 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in Innoviva by 3.5% in the third quarter. Victory Capital Management Inc. now owns 140,454 shares of the biotechnology company’s stock worth $2,712,000 after purchasing an additional 4,699 shares during the period. Institutional investors own 99.12% of the company’s stock.

Innoviva Stock Performance

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

Innoviva (NASDAQ:INVA) last posted its earnings results on Wednesday, February 26th. The biotechnology company reported $0.57 earnings per share for the quarter. The business had revenue of $91.81 million for the quarter. Innoviva had a net margin of 18.31% and a return on equity of 20.84%. As a group, analysts predict that Innoviva, Inc. will post 0.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Alexander J. Denner sold 151,175 shares of Innoviva stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $17.63, for a total value of $2,665,215.25. Following the completion of the transaction, the insider now owns 7,125,825 shares in the company, valued at approximately $125,628,294.75. The trade was a 2.08 % 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.

Analyst Ratings Changes

INVA has been the subject of a number of recent research reports. Scotiabank started coverage on shares of Innoviva in a research note on Friday. They issued a “sector outperform” rating and a $55.00 price objective for the company. StockNews.com raised shares of Innoviva from a “hold” rating to a “buy” rating in a research report on Friday.

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.