Quantbot Technologies LP Purchases 14,139 Shares of Innoviva, Inc. (NASDAQ:INVA)

Quantbot Technologies LP lifted its position in Innoviva, Inc. (NASDAQ:INVA) by 53.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,738 shares of the biotechnology company’s stock after purchasing an additional 14,139 shares during the quarter. Quantbot Technologies LP owned 0.07% of Innoviva worth $707,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Teacher Retirement System of Texas grew its position in Innoviva by 18.5% during the fourth quarter. Teacher Retirement System of Texas now owns 16,713 shares of the biotechnology company’s stock valued at $290,000 after acquiring an additional 2,614 shares during the last quarter. Boston Partners boosted its stake in shares of Innoviva by 43.7% in the 4th quarter. Boston Partners now owns 490,404 shares of the biotechnology company’s stock valued at $8,513,000 after purchasing an additional 149,060 shares in the last quarter. Intech Investment Management LLC grew its holdings in shares of Innoviva by 79.8% during the 4th quarter. Intech Investment Management LLC now owns 35,128 shares of the biotechnology company’s stock valued at $609,000 after purchasing an additional 15,591 shares during the last quarter. Royce & Associates LP raised its position in Innoviva by 3.0% in the 4th quarter. Royce & Associates LP now owns 59,625 shares of the biotechnology company’s stock worth $1,034,000 after purchasing an additional 1,717 shares during the period. Finally, Vestcor Inc boosted its position in Innoviva by 8.3% during the fourth quarter. Vestcor Inc now owns 60,026 shares of the biotechnology company’s stock valued at $1,041,000 after buying an additional 4,613 shares during the period. 99.12% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

INVA has been the topic of several analyst reports. Scotiabank started coverage on Innoviva in a report on Friday, March 7th. They issued a “sector outperform” rating and a $55.00 price objective on the stock. StockNews.com raised Innoviva from a “hold” rating to a “buy” rating in a research note on Monday.

Innoviva Price Performance

Shares of Innoviva stock opened at $17.42 on Thursday. The firm has a market cap of $1.09 billion, a PE ratio of 25.25 and a beta of 0.56. The company’s fifty day simple moving average is $18.01 and its two-hundred day simple moving average is $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, Inc. has a 12-month low of $14.33 and a 12-month high of $21.28.

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

Insider Activity

In related news, major shareholder Alexander J. Denner sold 151,175 shares of Innoviva stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $17.63, for a total value of $2,665,215.25. Following the sale, the insider now owns 7,125,825 shares in the company, valued at $125,628,294.75. The trade was a 2.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.70% of the company’s stock.

Innoviva Profile

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.