Innoviva Inc (INVA) Holdings Boosted by Bessemer Group Inc.
Bessemer Group Inc. grew its stake in shares of Innoviva Inc (NASDAQ:INVA) by 3,447.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,919 shares of the biotechnology company’s stock after buying an additional 42,681 shares during the period. Bessemer Group Inc.’s holdings in Innoviva were worth $767,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Financial Gravity Companies Inc. acquired a new stake in shares of Innoviva during the fourth quarter worth about $40,000. Quantamental Technologies LLC acquired a new stake in shares of Innoviva during the fourth quarter worth about $172,000. First Quadrant L P CA raised its position 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 purchasing an additional 3,546 shares during the period. Bowling Portfolio Management LLC acquired a new stake in shares of Innoviva during the fourth quarter worth about $255,000. Finally, Caxton Associates LP acquired a new stake in shares of Innoviva during the third quarter worth about $268,000. Hedge funds and other institutional investors own 77.77% of the company’s stock.
NASDAQ INVA opened at $14.16 on Friday. The stock has a market cap of $1.43 billion, a PE ratio of 4.01 and a beta of 1.88. The company has a current ratio of 34.92, a quick ratio of 34.92 and a debt-to-equity ratio of 2.41. Innoviva Inc has a one year low of $13.26 and a one year high of $20.54.
INVA has been the topic of a number of research analyst reports. BidaskClub lowered Innoviva from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 2nd. Zacks Investment Research lowered Innoviva from a “buy” rating to a “hold” rating in a research report on Tuesday, January 8th. Finally, ValuEngine lowered Innoviva from a “hold” rating to a “sell” rating in a research report on Wednesday, February 13th. Two equities 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 an average rating of “Hold” and a consensus target price of $16.50.
In other news, Director George Bickerstaff bought 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 27th. The shares were acquired at an average price of $15.90 per share, with a total value of $238,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Geoffrey Hulme bought 7,000 shares of the company’s stock in a transaction that occurred on Friday, February 15th. The stock was purchased at an average cost of $14.80 per share, for a total transaction of $103,600.00. The disclosure for this purchase can be found here. In the last three months, insiders purchased 32,000 shares of company stock worth $491,100. 1.44% of the stock is owned by insiders.
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Innoviva Company Profile
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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