Innoviva, Inc. (NASDAQ:INVA) Major Shareholder Sells $2,665,215.25 in Stock

Innoviva, Inc. (NASDAQ:INVA) major shareholder Alexander J. Denner sold 151,175 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $17.63, for a total value of $2,665,215.25. Following the transaction, the insider now directly owns 7,125,825 shares of the company’s stock, valued at approximately $125,628,294.75. This represents a 2.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Innoviva Trading Up 0.3 %

NASDAQ:INVA opened at $17.64 on Friday. Innoviva, Inc. has a 12 month low of $14.33 and a 12 month high of $21.28. The stock has a market capitalization of $1.10 billion, a PE 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 (NASDAQ:INVA) last released its quarterly earnings data on Wednesday, February 26th. The biotechnology company reported $0.57 earnings per share for the quarter. Innoviva had a net margin of 18.31% and a return on equity of 20.84%. The business had revenue of $91.81 million during the quarter. Sell-side analysts expect that Innoviva, Inc. will post 0.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. American Century Companies Inc. raised its position in shares of Innoviva by 35.2% in the fourth quarter. American Century Companies Inc. now owns 1,424,315 shares of the biotechnology company’s stock worth $24,712,000 after buying an additional 370,795 shares in the last quarter. Millennium Management LLC increased its stake in Innoviva by 426.4% in the 4th quarter. Millennium Management LLC now owns 400,613 shares of the biotechnology company’s stock worth $6,951,000 after acquiring an additional 324,515 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Innoviva in the 4th quarter valued at about $5,437,000. Jefferies Financial Group Inc. raised its holdings in shares of Innoviva by 355.8% in the 4th quarter. Jefferies Financial Group Inc. now owns 296,238 shares of the biotechnology company’s stock valued at $5,140,000 after acquiring an additional 231,238 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Innoviva by 4.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,919,518 shares of the biotechnology company’s stock valued at $85,354,000 after acquiring an additional 226,592 shares during the last quarter. 99.12% of the stock is owned by institutional investors.

Innoviva Company 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.