Innoviva, Inc. (NASDAQ:INVA) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. increased its position in shares of Innoviva, Inc. (NASDAQ:INVA) by 26.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 177,383 shares of the biotechnology company’s stock after acquiring an additional 36,929 shares during the period. Victory Capital Management Inc. owned about 0.28% of Innoviva worth $3,078,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. US Bancorp DE lifted its stake in Innoviva by 24.5% during the 3rd quarter. US Bancorp DE now owns 2,875 shares of the biotechnology company’s stock worth $56,000 after acquiring an additional 566 shares in the last quarter. KBC Group NV lifted its stake in Innoviva by 73.9% during the 4th quarter. KBC Group NV now owns 4,100 shares of the biotechnology company’s stock worth $71,000 after acquiring an additional 1,743 shares in the last quarter. FMR LLC lifted its stake in Innoviva by 8.2% during the 3rd quarter. FMR LLC now owns 10,119 shares of the biotechnology company’s stock worth $195,000 after acquiring an additional 771 shares in the last quarter. Walleye Capital LLC acquired a new position in Innoviva during the 3rd quarter worth about $214,000. Finally, World Investment Advisors LLC acquired a new stake in Innoviva in the 3rd quarter valued at about $217,000. Institutional investors and hedge funds own 99.12% of the company’s stock.

Innoviva Price Performance

INVA stock opened at $17.39 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 firm has a market capitalization of $1.09 billion, a P/E ratio of 25.20 and a beta of 0.56. The business’s 50-day moving average is $18.03 and its two-hundred day moving average is $18.77. Innoviva, Inc. has a 1 year low of $14.33 and a 1 year high of $21.28.

Innoviva (NASDAQ:INVA) last issued 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 business had revenue of $91.81 million for the quarter. Analysts anticipate that Innoviva, Inc. will post 0.33 earnings per share for the current fiscal year.

Insider Transactions at Innoviva

In other news, major shareholder Alexander J. Denner sold 151,175 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $17.63, for a total transaction of $2,665,215.25. Following the sale, the insider now owns 7,125,825 shares of the company’s stock, valued at approximately $125,628,294.75. This trade represents a 2.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Scotiabank assumed coverage on Innoviva in a research report on Friday, March 7th. They issued a “sector outperform” rating and a $55.00 price target on the stock. StockNews.com lowered Innoviva from a “buy” rating to a “hold” rating in a research report on Saturday.

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.