Teacher Retirement System of Texas Grows Stock Position in Innoviva, Inc. (NASDAQ:INVA)

Teacher Retirement System of Texas increased its position in shares of Innoviva, Inc. (NASDAQ:INVA) by 18.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,713 shares of the biotechnology company’s stock after purchasing an additional 2,614 shares during the quarter. Teacher Retirement System of Texas’ holdings in Innoviva were worth $290,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. KBC Group NV boosted 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 purchasing an additional 1,743 shares during the last quarter. FMR LLC boosted its position in Innoviva by 8.2% during the third quarter. FMR LLC now owns 10,119 shares of the biotechnology company’s stock worth $195,000 after acquiring an additional 771 shares during the last quarter. Walleye Capital LLC purchased a new stake in Innoviva during the 3rd quarter valued at about $214,000. World Investment Advisors LLC acquired a new stake in Innoviva in the 3rd quarter valued at about $217,000. Finally, China Universal Asset Management Co. Ltd. raised its holdings in Innoviva by 10.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 13,274 shares of the biotechnology company’s stock valued at $230,000 after acquiring an additional 1,241 shares during the last quarter. 99.12% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

INVA has been the topic of several recent research reports. StockNews.com cut Innoviva from a “buy” rating to a “hold” rating in a report on Tuesday. Scotiabank started coverage on Innoviva in a report on Friday, March 7th. They issued a “sector outperform” rating and a $55.00 target price for the company.

Insiders Place Their Bets

In other Innoviva news, major shareholder Alexander J. Denner sold 1,196,746 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $17.52, for a total value of $20,966,989.92. Following the transaction, the insider now owns 5,658,705 shares of the company’s stock, valued at $99,140,511.60. This represents a 17.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.70% of the stock is owned by insiders.

Innoviva Price Performance

Innoviva stock opened at $17.94 on Wednesday. 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 company has a 50-day moving average price of $17.97 and a 200 day moving average price of $18.61. Innoviva, Inc. has a 12-month low of $14.33 and a 12-month high of $21.28. The stock has a market cap of $1.12 billion, a P/E ratio of 26.00 and a beta of 0.56.

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

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.