Innoviva, Inc. (NASDAQ:INVA) Stock Holdings Raised by HighTower Advisors LLC

HighTower Advisors LLC lifted its stake in shares of Innoviva, Inc. (NASDAQ:INVA) by 11.4% during the 4th quarter, according to its most recent Form 13F filing with the 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 owned about 0.06% of Innoviva worth $618,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. KBC Group NV increased its stake in Innoviva by 73.9% during the fourth quarter. KBC Group NV now owns 4,100 shares of the biotechnology company’s stock valued at $71,000 after purchasing an additional 1,743 shares during the last quarter. FMR LLC boosted its holdings 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 buying an additional 771 shares during the period. Walleye Capital LLC bought a new stake in shares of Innoviva during the 3rd quarter valued at about $214,000. World Investment Advisors LLC acquired a new stake in Innoviva during the third quarter worth about $217,000. Finally, China Universal Asset Management Co. Ltd. raised 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 worth $230,000 after acquiring an additional 1,241 shares during the period. 99.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Innoviva Price Performance

NASDAQ INVA opened at $18.18 on Friday. The company has a 50-day moving average price of $17.99 and a two-hundred day moving average price of $18.64. The stock has a market cap 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 52 week low of $14.33 and a 52 week high of $21.28.

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

Insider Activity at Innoviva

In other news, major shareholder Alexander J. Denner sold 151,175 shares of the 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 directly owns 7,125,825 shares in the company, valued at $125,628,294.75. This trade represents 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. Company insiders own 1.70% of the company’s stock.

About Innoviva

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.