Alambic Investment Management L.P. increased its position in shares of Innoviva Inc (NASDAQ:INVA) by 38.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,300 shares of the biotechnology company’s stock after acquiring an additional 9,800 shares during the period. Alambic Investment Management L.P.’s holdings in Innoviva were worth $501,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Innoviva by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 7,459,616 shares of the biotechnology company’s stock valued at $95,483,000 after purchasing an additional 226,969 shares in the last quarter. Sarissa Capital Management LP raised its position in Innoviva by 3.2% in the 3rd quarter. Sarissa Capital Management LP now owns 3,600,705 shares of the biotechnology company’s stock valued at $50,841,000 after purchasing an additional 110,000 shares in the last quarter. State Street Corp raised its position in Innoviva by 14.7% in the 2nd quarter. State Street Corp now owns 2,717,255 shares of the biotechnology company’s stock valued at $34,782,000 after purchasing an additional 348,584 shares in the last quarter. Northern Trust Corp raised its position in Innoviva by 11.3% in the 2nd quarter. Northern Trust Corp now owns 1,243,046 shares of the biotechnology company’s stock valued at $15,911,000 after purchasing an additional 126,246 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Innoviva by 22.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 981,854 shares of the biotechnology company’s stock valued at $13,864,000 after purchasing an additional 179,860 shares in the last quarter. 74.17% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider Michael W. Aguiar sold 12,022 shares of the stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $13.13, for a total value of $157,848.86. Following the transaction, the insider now owns 980,907 shares in the company, valued at approximately $12,879,308.91. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP George B. Abercrombie sold 5,215 shares of the stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $13.26, for a total value of $69,150.90. Following the completion of the transaction, the vice president now owns 263,866 shares in the company, valued at approximately $3,498,863.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,522 shares of company stock worth $429,985. Company insiders own 1.60% of the company’s stock.

INVA has been the topic of a number of analyst reports. Zacks Investment Research raised Innoviva from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Wednesday, October 25th. Robert W. Baird reaffirmed a “hold” rating and issued a $13.00 price target on shares of Innoviva in a research report on Tuesday, October 24th. Deutsche Bank initiated coverage on Innoviva in a research report on Monday, November 20th. They issued a “hold” rating and a $13.00 price target on the stock. Cowen set a $16.00 price target on Innoviva and gave the company a “buy” rating in a research report on Monday, October 23rd. Finally, BidaskClub raised Innoviva from a “hold” rating to a “buy” rating in a research report on Thursday, December 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $13.50.

Innoviva Inc (INVA) opened at $13.80 on Friday. Innoviva Inc has a 1-year low of $10.87 and a 1-year high of $16.11. The company has a market capitalization of $1,511.13, a PE ratio of 15.86 and a beta of 2.52. The company has a debt-to-equity ratio of -2.59, a current ratio of 6.71 and a quick ratio of 6.71.

Innoviva (NASDAQ:INVA) last released its quarterly earnings data on Thursday, February 8th. The biotechnology company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.06. Innoviva had a negative return on equity of 33.55% and a net margin of 52.91%. The business had revenue of $69.52 million for the quarter, compared to the consensus estimate of $67.41 million. During the same quarter in the prior year, the business posted $0.22 EPS. The business’s revenue for the quarter was up 59.4% on a year-over-year basis. sell-side analysts forecast that Innoviva Inc will post 1.08 earnings per share for the current year.

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Innoviva Profile

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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Institutional Ownership by Quarter for Innoviva (NASDAQ:INVA)

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