O Shaughnessy Asset Management LLC Purchases 8,240 Shares of Innoviva, Inc. (NASDAQ:INVA)

O Shaughnessy Asset Management LLC lifted its position in Innoviva, Inc. (NASDAQ:INVA) by 3.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 263,870 shares of the biotechnology company’s stock after acquiring an additional 8,240 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Innoviva were worth $4,578,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Intech Investment Management LLC increased its position in Innoviva by 28.8% during the 3rd quarter. Intech Investment Management LLC now owns 19,537 shares of the biotechnology company’s stock valued at $377,000 after purchasing an additional 4,367 shares during the period. Quantbot Technologies LP increased its holdings in Innoviva by 171.5% during the third quarter. Quantbot Technologies LP now owns 26,599 shares of the biotechnology company’s stock valued at $514,000 after buying an additional 16,801 shares during the period. FMR LLC raised its stake in Innoviva by 8.2% in the third quarter. FMR LLC now owns 10,119 shares of the biotechnology company’s stock worth $195,000 after buying an additional 771 shares in the last quarter. Walleye Capital LLC purchased a new stake in Innoviva during the third quarter worth $214,000. Finally, Systematic Financial Management LP lifted its holdings in Innoviva by 4.7% during the third quarter. Systematic Financial Management LP now owns 1,979,073 shares of the biotechnology company’s stock worth $38,216,000 after buying an additional 89,633 shares during the period. 99.12% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. StockNews.com downgraded Innoviva from a “buy” rating to a “hold” rating in a report on Tuesday. Scotiabank initiated coverage on Innoviva in a research note on Friday, March 7th. They issued a “sector outperform” rating and a $55.00 target price on the stock.

Insider Transactions at Innoviva

In related news, major shareholder Alexander J. Denner sold 1,196,746 shares of Innoviva stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $17.52, for a total value of $20,966,989.92. Following the completion of the sale, the insider now directly owns 5,658,705 shares in the company, valued at $99,140,511.60. This trade represents a 17.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.70% of the company’s stock.

Innoviva Trading Up 0.7 %

NASDAQ:INVA opened at $18.07 on Thursday. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of 26.19 and a beta of 0.56. Innoviva, Inc. has a 52 week low of $14.33 and a 52 week high of $21.28. The company has a quick ratio of 1.64, a current ratio of 1.79 and a debt-to-equity ratio of 0.38. The firm has a 50 day moving average of $17.96 and a 200 day moving average of $18.61.

Innoviva (NASDAQ:INVA) last posted its quarterly earnings data on Wednesday, February 26th. The biotechnology company reported $0.57 earnings per share for the quarter. Innoviva had a return on equity of 20.84% and a net margin of 18.31%. The firm had revenue of $91.81 million during the quarter. As a group, sell-side analysts anticipate that Innoviva, Inc. will post 0.33 earnings per share for the current fiscal year.

About Innoviva

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.