Gotham Asset Management LLC lowered its holdings in Innoviva Inc (NASDAQ:INVA) by 6.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 552,755 shares of the biotechnology company’s stock after selling 36,312 shares during the quarter. Gotham Asset Management LLC owned about 0.51% of Innoviva worth $7,844,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of INVA. BNP Paribas Arbitrage SA grew its position in Innoviva by 61.7% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 39,121 shares of the biotechnology company’s stock valued at $552,000 after purchasing an additional 14,931 shares during the period. Sei Investments Co. boosted its holdings in Innoviva by 33,810.3% during the 3rd quarter. Sei Investments Co. now owns 9,834 shares of the biotechnology company’s stock worth $138,000 after acquiring an additional 9,805 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in Innoviva by 66.3% during the 3rd quarter. New York State Common Retirement Fund now owns 130,047 shares of the biotechnology company’s stock worth $1,836,000 after acquiring an additional 51,847 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its holdings in Innoviva by 53.0% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 27,990 shares of the biotechnology company’s stock worth $395,000 after acquiring an additional 9,690 shares during the last quarter. Finally, Macquarie Group Ltd. purchased a new position in Innoviva during the 3rd quarter worth $144,000. 74.99% of the stock is owned by institutional investors and hedge funds.
INVA stock opened at $16.14 on Friday. The company has a debt-to-equity ratio of -2.37, a quick ratio of 5.77 and a current ratio of 5.77. The stock has a market cap of $1,646.49, a price-to-earnings ratio of 13.94 and a beta of 2.34. Innoviva Inc has a fifty-two week low of $11.02 and a fifty-two week high of $17.21.
Innoviva (NASDAQ:INVA) last issued its quarterly earnings results on Thursday, February 8th. The biotechnology company reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.01. The company had revenue of $69.52 million for the quarter, compared to the consensus estimate of $67.41 million. Innoviva had a net margin of 61.76% and a negative return on equity of 48.93%. The firm’s quarterly revenue was up 59.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.22 EPS. sell-side analysts anticipate that Innoviva Inc will post 1.99 earnings per share for the current fiscal year.
INVA has been the topic of a number of analyst reports. Zacks Investment Research downgraded shares of Innoviva from a “hold” rating to a “sell” rating in a report on Tuesday, February 20th. BidaskClub raised shares of Innoviva from a “hold” rating to a “buy” rating in a report on Thursday, December 21st. TheStreet raised shares of Innoviva from a “c+” rating to a “b” rating in a report on Friday, February 9th. ValuEngine raised shares of Innoviva from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $17.00 price objective on shares of Innoviva in a report on Friday, February 9th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $13.83.
In related news, insider Eric Desparbes sold 5,378 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $16.52, for a total value of $88,844.56. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP George B. Abercrombie sold 8,000 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $16.51, for a total transaction of $132,080.00. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.
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Innoviva, Inc, formerly Theravance, Inc, is engaged in the development, commercialization and financial management of bio-pharmaceuticals. It focuses on the respiratory assets partnered with Glaxo Group Limited (GSK), including RELVAR/BREO ELLIPTA (fluticasone furoate (FF)/vilanterol (VI)) and ANORO ELLIPTA (umeclidinium bromide/vilanterol (UMEC/VI)).
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