Renaissance Technologies LLC Has $73.94 Million Holdings in Innoviva, Inc. (NASDAQ:INVA)

Renaissance Technologies LLC trimmed its position in shares of Innoviva, Inc. (NASDAQ:INVA) by 1.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 4,261,732 shares of the biotechnology company’s stock after selling 68,175 shares during the period. Renaissance Technologies LLC owned 0.07% of Innoviva worth $73,941,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Innoviva by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 6,312,631 shares of the biotechnology company’s stock valued at $109,524,000 after buying an additional 84,934 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Innoviva by 4.3% during the 4th quarter. Pacer Advisors Inc. now owns 2,932,113 shares of the biotechnology company’s stock valued at $50,872,000 after buying an additional 121,162 shares in the last quarter. American Century Companies Inc. grew its holdings in Innoviva by 35.2% during the 4th quarter. American Century Companies Inc. now owns 1,424,315 shares of the biotechnology company’s stock valued at $24,712,000 after buying an additional 370,795 shares in the last quarter. Geode Capital Management LLC grew its holdings in Innoviva by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,357,557 shares of the biotechnology company’s stock valued at $26,219,000 after buying an additional 13,257 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Innoviva by 7.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,146,243 shares of the biotechnology company’s stock valued at $19,887,000 after acquiring an additional 81,142 shares during the last quarter. 99.12% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Innoviva news, major shareholder Alexander J. Denner sold 151,175 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $17.63, for a total value of $2,665,215.25. Following the transaction, the insider now owns 7,125,825 shares of the company’s stock, valued at approximately $125,628,294.75. This represents a 2.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.70% of the company’s stock.

Innoviva Price Performance

Shares of INVA stock opened at $17.32 on Thursday. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 25.10 and a beta of 0.48. The business’s fifty day moving average is $17.78 and its 200 day moving average is $18.52. Innoviva, Inc. has a twelve month low of $14.33 and a twelve month 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.

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on INVA. Scotiabank began coverage on Innoviva in a research report on Friday, March 7th. They set a “sector outperform” rating and a $55.00 price target for the company. StockNews.com downgraded Innoviva from a “buy” rating to a “hold” rating in a research report on Tuesday, April 1st.

Innoviva Company 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.