Boston Private Wealth LLC Makes New $255,000 Investment in Innoviva, Inc. (NASDAQ:INVA)

Boston Private Wealth LLC purchased a new stake in Innoviva, Inc. (NASDAQ:INVA) in the third quarter, Holdings Channel reports. The institutional investor purchased 15,260 shares of the biotechnology company’s stock, valued at approximately $255,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Trust Advisors LP raised its position in Innoviva by 73.3% in the first quarter. First Trust Advisors LP now owns 219,037 shares of the biotechnology company’s stock valued at $3,073,000 after purchasing an additional 92,637 shares during the last quarter. Advisor Group Holdings Inc. boosted its position in Innoviva by 27.1% during the 2nd quarter. Advisor Group Holdings Inc. now owns 9,507 shares of the biotechnology company’s stock worth $127,000 after buying an additional 2,027 shares during the period. Envestnet Asset Management Inc. grew its holdings in Innoviva by 72.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 111,498 shares of the biotechnology company’s stock worth $1,495,000 after acquiring an additional 46,818 shares during the last quarter. Rhumbline Advisers grew its holdings in Innoviva by 5.9% during the 2nd quarter. Rhumbline Advisers now owns 227,407 shares of the biotechnology company’s stock worth $3,050,000 after acquiring an additional 12,746 shares during the last quarter. Finally, Citigroup Inc. increased its position in Innoviva by 235.5% in the 2nd quarter. Citigroup Inc. now owns 43,853 shares of the biotechnology company’s stock valued at $589,000 after acquiring an additional 30,782 shares during the period. 99.99% of the stock is currently owned by institutional investors.

Separately, Zacks Investment Research cut shares of Innoviva from a “hold” rating to a “sell” rating in a research note on Wednesday, October 13th.

Shares of INVA stock opened at $16.77 on Friday. The stock has a 50-day moving average of $17.18 and a 200-day moving average of $16.02. The company has a current ratio of 75.82, a quick ratio of 75.82 and a debt-to-equity ratio of 0.80. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 5.38 and a beta of 0.49. Innoviva, Inc. has a 1-year low of $10.92 and a 1-year high of $18.97.

Innoviva (NASDAQ:INVA) last released its quarterly earnings results on Wednesday, October 27th. The biotechnology company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.47. The firm had revenue of $97.86 million during the quarter. Innoviva had a net margin of 82.58% and a return on equity of 56.51%. Sell-side analysts forecast that Innoviva, Inc. will post 2.02 earnings per share for the current year.

In other news, Director Innoviva, Inc. bought 1,212,122 shares of the company’s stock in a transaction that occurred on Friday, October 29th. The shares were acquired at an average price of $3.30 per share, for a total transaction of $4,000,002.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.43% of the stock is owned by company insiders.

About Innoviva

Innoviva, Inc is engaged in the development, commercialization, and financial management of bio-pharmaceuticals. Its portfolio includes Relvar Breo Ellipta, which is a once-daily combination medicine consisting of a long-acting beta2 agonist, vilanterol, and an inhaled corticosteroid, fluticasone furoate; and Anoro Ellipta, a once-daily medicine combining a long-acting muscarinic antagonist, umeclidinium bromide, LABA, VI.

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Institutional Ownership by Quarter for Innoviva (NASDAQ:INVA)

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