Quantbot Technologies LP Grows Position in Innoviva, Inc. (NASDAQ:INVA)

Quantbot Technologies LP increased its position in Innoviva, Inc. (NASDAQ:INVA) by 53.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 40,738 shares of the biotechnology company’s stock after purchasing an additional 14,139 shares during the period. Quantbot Technologies LP’s holdings in Innoviva were worth $707,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in INVA. KBC Group NV boosted its holdings in shares of Innoviva by 73.9% during the 4th quarter. KBC Group NV now owns 4,100 shares of the biotechnology company’s stock valued at $71,000 after buying an additional 1,743 shares in the last quarter. FMR LLC grew its holdings in Innoviva by 8.2% in the third quarter. FMR LLC now owns 10,119 shares of the biotechnology company’s stock worth $195,000 after purchasing an additional 771 shares during the period. Walleye Capital LLC bought a new position in shares of Innoviva during the third quarter valued at approximately $214,000. World Investment Advisors LLC purchased a new position in shares of Innoviva during the third quarter valued at approximately $217,000. Finally, China Universal Asset Management Co. Ltd. boosted its position in shares of 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 worth $230,000 after purchasing an additional 1,241 shares in the last quarter. Institutional investors own 99.12% of the company’s stock.

Insider Buying and Selling

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

Innoviva Price Performance

Shares of INVA opened at $17.42 on Thursday. Innoviva, Inc. has a twelve month low of $14.33 and a twelve month high of $21.28. The company has a market capitalization of $1.09 billion, a P/E ratio of 25.25 and a beta of 0.56. The firm has a 50 day moving average of $18.01 and a 200 day moving average of $18.66. The company has a quick ratio of 1.64, a current ratio of 1.79 and a debt-to-equity ratio of 0.38.

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. StockNews.com raised Innoviva from a “hold” rating to a “buy” rating in a research report on Monday. Scotiabank began coverage on Innoviva in a research report on Friday, March 7th. They issued a “sector outperform” rating and a $55.00 price target for the company.

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.