Royce & Associates LP Purchases 1,717 Shares of Innoviva, Inc. (NASDAQ:INVA)

Royce & Associates LP increased its position in shares of Innoviva, Inc. (NASDAQ:INVA) by 3.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 59,625 shares of the biotechnology company’s stock after purchasing an additional 1,717 shares during the quarter. Royce & Associates LP owned approximately 0.10% of Innoviva worth $1,034,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. KBC Group NV grew its stake in Innoviva by 73.9% in the 4th quarter. KBC Group NV now owns 4,100 shares of the biotechnology company’s stock valued at $71,000 after purchasing an additional 1,743 shares during the period. FMR LLC lifted its stake in Innoviva by 8.2% in the third quarter. FMR LLC now owns 10,119 shares of the biotechnology company’s stock valued at $195,000 after purchasing an additional 771 shares during the last quarter. Walleye Capital LLC purchased a new stake in Innoviva in the third quarter worth $214,000. World Investment Advisors LLC bought a new stake in Innoviva in the 3rd quarter valued at about $217,000. Finally, Caprock Group LLC purchased a new stake in Innoviva during the third quarter valued at about $229,000. 99.12% of the stock is owned by institutional investors.

Innoviva Price Performance

Shares of NASDAQ INVA opened at $17.27 on Friday. The stock’s 50-day simple moving average is $18.04 and its two-hundred day simple moving average is $18.71. Innoviva, Inc. has a twelve month low of $14.33 and a twelve month high of $21.28. The firm has a market capitalization of $1.08 billion, a P/E ratio of 25.03 and a beta of 0.56. 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 issued its quarterly earnings results 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%. As a group, equities analysts anticipate that Innoviva, Inc. will post 0.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on INVA shares. Scotiabank began coverage on shares of Innoviva in a research report on Friday, March 7th. They issued a “sector outperform” rating and a $55.00 price target on the stock. StockNews.com cut shares of Innoviva from a “buy” rating to a “hold” rating in a report on Saturday, March 15th.

Insider Activity

In other Innoviva news, major shareholder Alexander J. Denner sold 151,175 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 7,125,825 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through the SEC website. 1.70% of the stock is owned by corporate insiders.

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.