313,029 Shares in Innoviva, Inc. (NASDAQ:INVA) Bought by Hsbc Holdings PLC

Hsbc Holdings PLC bought a new position in Innoviva, Inc. (NASDAQ:INVA) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 313,029 shares of the biotechnology company’s stock, valued at approximately $5,437,000.

A number of other hedge funds have also modified their holdings of INVA. American Century Companies Inc. grew its holdings in shares of Innoviva by 35.2% in the 4th quarter. American Century Companies Inc. now owns 1,424,315 shares of the biotechnology company’s stock worth $24,712,000 after acquiring an additional 370,795 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Innoviva by 4.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,919,518 shares of the biotechnology company’s stock worth $85,354,000 after acquiring an additional 226,592 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of Innoviva by 130.9% in the 4th quarter. Marshall Wace LLP now owns 314,968 shares of the biotechnology company’s stock worth $5,465,000 after acquiring an additional 178,583 shares during the last quarter. Boston Partners grew its holdings in shares of Innoviva by 43.7% in the 4th quarter. Boston Partners now owns 490,404 shares of the biotechnology company’s stock worth $8,513,000 after acquiring an additional 149,060 shares during the last quarter. Finally, Pacer Advisors Inc. grew its holdings in shares of Innoviva by 4.3% in the 4th quarter. Pacer Advisors Inc. now owns 2,932,113 shares of the biotechnology company’s stock worth $50,872,000 after acquiring an additional 121,162 shares during the last quarter. 99.12% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Scotiabank initiated coverage on Innoviva in a report on Friday, March 7th. They issued a “sector outperform” rating and a $55.00 target price on the stock. StockNews.com downgraded Innoviva from a “buy” rating to a “hold” rating in a report on Tuesday, April 22nd.

Insider Activity at Innoviva

In related news, major shareholder Alexander J. Denner sold 1,196,746 shares of Innoviva stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $17.52, for a total transaction of $20,966,989.92. Following the completion of the sale, the insider now owns 5,658,705 shares of the company’s stock, valued at approximately $99,140,511.60. This trade represents a 17.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.25% of the company’s stock.

Innoviva Stock Performance

Shares of INVA stock opened at $18.38 on Tuesday. Innoviva, Inc. has a 1-year low of $14.95 and a 1-year high of $21.28. The company has a current ratio of 1.79, a quick ratio of 1.64 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of 26.64 and a beta of 0.48. The stock’s fifty day simple moving average is $17.76 and its 200-day simple moving average is $18.39.

Innoviva (NASDAQ:INVA) last released its quarterly earnings data on Wednesday, February 26th. The biotechnology company reported $0.57 earnings per share (EPS) for the quarter. The firm had revenue of $91.81 million during the quarter. Innoviva had a return on equity of 20.84% and a net margin of 18.31%. On average, sell-side analysts predict 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.