American Century Companies Inc. reduced its position in shares of Innoviva Inc (NASDAQ:INVA) by 2.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 571,432 shares of the biotechnology company’s stock after selling 15,492 shares during the period. American Century Companies Inc. owned approximately 0.53% of Innoviva worth $8,109,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Sei Investments Co. grew its holdings in Innoviva by 33,810.3% during the third quarter. Sei Investments Co. now owns 9,834 shares of the biotechnology company’s stock worth $138,000 after acquiring an additional 9,805 shares during the period. Macquarie Group Ltd. acquired a new position in shares of Innoviva in the 3rd quarter valued at $144,000. Jane Street Group LLC acquired a new position in shares of Innoviva in the 3rd quarter valued at $144,000. Cubist Systematic Strategies LLC boosted its position in shares of Innoviva by 37.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 13,005 shares of the biotechnology company’s stock valued at $166,000 after purchasing an additional 3,569 shares during the period. Finally, Magnetar Financial LLC acquired a new position in shares of Innoviva in the 3rd quarter valued at $182,000. 75.01% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Innoviva Inc (NASDAQ:INVA) traded up $0.09 during trading on Wednesday, hitting $15.64. The stock had a trading volume of 422,633 shares, compared to its average volume of 1,066,894. The firm has a market cap of $1,710.00, a price-to-earnings ratio of 13.96 and a beta of 2.35. The company has a current ratio of 5.77, a quick ratio of 5.77 and a debt-to-equity ratio of -2.37. Innoviva Inc has a fifty-two week low of $11.02 and a fifty-two week high of $17.21.
A number of equities analysts recently weighed in on the company. ValuEngine upgraded Innoviva from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. Zacks Investment Research upgraded Innoviva from a “sell” rating to a “hold” rating in a research report on Friday, February 9th. TheStreet upgraded Innoviva from a “c+” rating to a “b” rating in a research report on Friday, February 9th. BidaskClub upgraded Innoviva from a “hold” rating to a “buy” rating in a research report on Thursday, December 21st. Finally, Deutsche Bank began coverage on Innoviva in a research report on Monday, November 20th. They set a “hold” rating and a $13.00 price objective for the company. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $13.83.
In related news, VP George B. Abercrombie sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $16.51, for a total value of $132,080.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Eric Desparbes sold 5,378 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $16.52, for a total value of $88,844.56. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.
Innoviva, Inc, formerly Theravance, Inc, is engaged in the development, commercialization and financial management of bio-pharmaceuticals. It focuses on the respiratory assets partnered with Glaxo Group Limited (GSK), including RELVAR/BREO ELLIPTA (fluticasone furoate (FF)/vilanterol (VI)) and ANORO ELLIPTA (umeclidinium bromide/vilanterol (UMEC/VI)).
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