LSV Asset Management lifted its position in shares of Innoviva Inc (NASDAQ:INVA) by 10.6% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 109,500 shares of the biotechnology company’s stock after buying an additional 10,454 shares during the quarter. LSV Asset Management owned about 0.11% of Innoviva worth $1,825,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in shares of Innoviva by 22.4% in the third quarter. Dimensional Fund Advisors LP now owns 981,854 shares of the biotechnology company’s stock worth $13,864,000 after purchasing an additional 179,860 shares during the period. Bank of Montreal Can grew its position in Innoviva by 5.9% in the fourth quarter. Bank of Montreal Can now owns 186,383 shares of the biotechnology company’s stock valued at $2,645,000 after acquiring an additional 10,435 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in Innoviva by 20.0% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 418,450 shares of the biotechnology company’s stock valued at $5,938,000 after acquiring an additional 69,750 shares during the last quarter. Acadian Asset Management LLC grew its position in Innoviva by 0.9% in the fourth quarter. Acadian Asset Management LLC now owns 502,352 shares of the biotechnology company’s stock valued at $7,129,000 after acquiring an additional 4,289 shares during the last quarter. Finally, Chicago Equity Partners LLC grew its position in Innoviva by 6.8% in the fourth quarter. Chicago Equity Partners LLC now owns 563,610 shares of the biotechnology company’s stock valued at $7,998,000 after acquiring an additional 35,950 shares during the last quarter. 74.62% of the stock is owned by institutional investors.
Shares of INVA stock traded up $0.08 during mid-day trading on Thursday, reaching $14.52. 1,277,600 shares of the stock traded hands, compared to its average volume of 978,349. Innoviva Inc has a 1-year low of $11.47 and a 1-year high of $17.99. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of 12.34 and a beta of 2.11. The company has a current ratio of 27.89, a quick ratio of 27.89 and a debt-to-equity ratio of -2.28.
Innoviva (NASDAQ:INVA) last announced its quarterly earnings results on Thursday, April 26th. The biotechnology company reported $0.27 EPS for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.23). Innoviva had a net margin of 64.11% and a negative return on equity of 63.57%. The firm had revenue of $52.40 million for the quarter, compared to analyst estimates of $71.84 million. During the same period in the previous year, the business posted $0.19 earnings per share. The business’s revenue for the quarter was up 29.4% compared to the same quarter last year. sell-side analysts predict that Innoviva Inc will post 2.18 earnings per share for the current fiscal year.
INVA has been the topic of a number of recent analyst reports. Zacks Investment Research cut Innoviva from a “hold” rating to a “sell” rating in a research report on Tuesday, February 20th. ValuEngine upgraded Innoviva from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. BidaskClub upgraded Innoviva from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 24th. Berenberg Bank initiated coverage on Innoviva in a research report on Thursday, April 19th. They issued a “buy” rating on the stock. Finally, Stifel Nicolaus decreased their target price on Innoviva from $17.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, April 27th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $13.67.
In other news, VP George B. Abercrombie sold 8,000 shares of Innoviva stock in a transaction dated Monday, May 21st. The stock was sold at an average price of $14.40, for a total transaction of $115,200.00. Following the sale, the vice president now directly owns 305,235 shares of the company’s stock, valued at $4,395,384. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Eric Desparbes sold 5,808 shares of Innoviva stock in a transaction dated Monday, May 21st. The shares were sold at an average price of $14.40, for a total value of $83,635.20. Following the sale, the chief financial officer now directly owns 376,965 shares in the company, valued at $5,428,296. The disclosure for this sale can be found here. Company insiders own 1.44% of the company’s stock.
Innoviva, Inc engages in the development and commercialization of bio-pharmaceuticals. Its portfolio of respiratory products include RELVAR/BREO ELLIPTA, (fluticasone furoate/ vilanterol, FF/VI); ANORO ELLIPTA (umeclidinium bromide/ vilanterol, UMEC/VI); and TRELEGY ELLIPTA (the combination FF/UMEC/VI).
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