Uniplan Investment Counsel Inc. Sells 2,840 Shares of Innoviva, Inc. (NASDAQ:INVA)

Uniplan Investment Counsel Inc. trimmed its stake in Innoviva, Inc. (NASDAQ:INVA) by 1.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 242,014 shares of the biotechnology company’s stock after selling 2,840 shares during the quarter. Uniplan Investment Counsel Inc. owned 0.39% of Innoviva worth $4,199,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of INVA. KBC Group NV boosted 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 worth $71,000 after purchasing an additional 1,743 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Innoviva by 75.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,962 shares of the biotechnology company’s stock worth $86,000 after buying an additional 2,128 shares in the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of Innoviva during the fourth quarter valued at approximately $176,000. World Investment Advisors LLC bought a new stake in shares of Innoviva during the third quarter valued at approximately $217,000. Finally, China Universal Asset Management Co. Ltd. raised its holdings in Innoviva by 10.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 13,274 shares of the biotechnology company’s stock worth $230,000 after acquiring an additional 1,241 shares during the last quarter. 99.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Innoviva Trading Up 0.1 %

NASDAQ:INVA opened at $18.28 on Tuesday. The company has a market cap of $1.15 billion, a PE ratio of 26.49 and a beta of 0.48. 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 50 day simple moving average of $17.73 and a two-hundred day simple moving average of $18.44. Innoviva, Inc. has a 12 month low of $14.83 and a 12 month high of $21.28.

Innoviva (NASDAQ:INVA) last issued its quarterly earnings data 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 company had revenue of $91.81 million during the quarter. Research analysts forecast that Innoviva, Inc. will post 0.33 earnings per share for the current year.

Insider Buying and Selling at Innoviva

In other news, major shareholder Alexander J. Denner sold 1,196,746 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were 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 $99,140,511.60. The trade was a 17.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate 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.