Fort L.P. purchased a new position in shares of Innoviva Inc (NASDAQ:INVA) in the fourth quarter, Holdings Channel reports. The fund purchased 5,152 shares of the biotechnology company’s stock, valued at approximately $90,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Oregon Public Employees Retirement Fund bought a new stake in shares of Innoviva during the fourth quarter worth approximately $26,000. Financial Gravity Companies Inc. bought a new stake in shares of Innoviva during the fourth quarter worth approximately $40,000. Quantamental Technologies LLC bought a new stake in shares of Innoviva during the fourth quarter worth approximately $172,000. Magnus Financial Group LLC bought a new stake in shares of Innoviva during the fourth quarter worth approximately $199,000. Finally, First Quadrant L P CA raised its stake in shares of Innoviva by 32.2% during the fourth quarter. First Quadrant L P CA now owns 14,558 shares of the biotechnology company’s stock worth $254,000 after buying an additional 3,546 shares during the last quarter. 77.77% of the stock is owned by institutional investors and hedge funds.

Several brokerages have commented on INVA. Zacks Investment Research downgraded shares of Innoviva from a “buy” rating to a “hold” rating in a research note on Tuesday, January 8th. BidaskClub downgraded shares of Innoviva from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 2nd. Finally, ValuEngine raised shares of Innoviva from a “sell” rating to a “hold” rating in a research note on Monday, February 25th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $16.50.

In other news, insider Marianne Zhen sold 5,617 shares of the company’s stock in a transaction that occurred on Tuesday, February 26th. The shares were sold at an average price of $16.00, for a total value of $89,872.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director George Bickerstaff purchased 15,000 shares of Innoviva stock in a transaction dated Wednesday, February 27th. The stock was bought at an average price of $15.90 per share, with a total value of $238,500.00. The disclosure for this purchase can be found here. Insiders bought 32,000 shares of company stock valued at $491,100 in the last quarter. Corporate insiders own 1.44% of the company’s stock.

Shares of NASDAQ:INVA opened at $14.16 on Friday. Innoviva Inc has a 52 week low of $13.26 and a 52 week high of $20.54. The company has a quick ratio of 34.92, a current ratio of 34.92 and a debt-to-equity ratio of 2.41. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of 4.01 and a beta of 1.88.

Innoviva (NASDAQ:INVA) last issued its earnings results on Wednesday, February 6th. The biotechnology company reported $2.34 EPS for the quarter. The firm had revenue of $79.86 million during the quarter. Innoviva had a net margin of 151.36% and a negative return on equity of 508.18%. On average, research analysts anticipate that Innoviva Inc will post 1.43 EPS for the current year.

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About Innoviva

Innoviva, Inc engages in the development and commercialization of bio-pharmaceuticals. Its portfolio of respiratory products include RELVAR/BREO ELLIPTA, (fluticasone furoate/ vilanterol, FF/VI); ANORO ELLIPTA (umeclidinium bromide/ vilanterol, UMEC/VI); and TRELEGY ELLIPTA (the combination FF/UMEC/VI).

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Institutional Ownership by Quarter for Innoviva (NASDAQ:INVA)

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