Jennison Associates LLC Acquires New Position in Innoviva, Inc. (NASDAQ:INVA)

Jennison Associates LLC acquired a new stake in shares of Innoviva, Inc. (NASDAQ:INVA) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 74,416 shares of the biotechnology company’s stock, valued at approximately $1,243,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Boston Private Wealth LLC purchased a new stake in Innoviva during the 3rd quarter valued at about $255,000. Grimes & Company Inc. boosted its holdings in Innoviva by 11.6% in the 3rd quarter. Grimes & Company Inc. now owns 11,991 shares of the biotechnology company’s stock valued at $200,000 after purchasing an additional 1,250 shares during the last quarter. Summit Global Investments acquired a new position in Innoviva in the 3rd quarter valued at about $952,000. Boston Partners acquired a new position in Innoviva in the 3rd quarter valued at about $670,000. Finally, PNC Financial Services Group Inc. boosted its holdings in Innoviva by 11.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 49,068 shares of the biotechnology company’s stock valued at $821,000 after purchasing an additional 4,965 shares during the last quarter. 99.99% of the stock is owned by institutional investors.

In related news, Director Innoviva, Inc. acquired 1,212,122 shares of Innoviva stock in a transaction that occurred on Friday, October 29th. The stock was purchased at an average price of $3.30 per share, for a total transaction of $4,000,002.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.43% of the stock is owned by company insiders.

Separately, Zacks Investment Research lowered shares of Innoviva from a “hold” rating to a “sell” rating in a report on Wednesday, October 13th.

Shares of NASDAQ:INVA opened at $16.77 on Friday. The company has a current ratio of 75.82, a quick ratio of 75.82 and a debt-to-equity ratio of 0.80. The company’s 50 day moving average is $17.18 and its two-hundred day moving average is $16.02. The company has a market cap of $1.17 billion, a PE ratio of 5.38 and a beta of 0.49. Innoviva, Inc. has a 52 week low of $10.92 and a 52 week high of $18.97.

Innoviva (NASDAQ:INVA) last issued its quarterly earnings data on Wednesday, October 27th. The biotechnology company reported $0.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.47. Innoviva had a net margin of 82.58% and a return on equity of 56.51%. The company had revenue of $97.86 million for the quarter. As a group, equities research analysts expect that Innoviva, Inc. will post 2.02 EPS for the current year.

Innoviva Company Profile

Innoviva, Inc is engaged in the development, commercialization, and financial management of bio-pharmaceuticals. Its portfolio includes Relvar Breo Ellipta, which is a once-daily combination medicine consisting of a long-acting beta2 agonist, vilanterol, and an inhaled corticosteroid, fluticasone furoate; and Anoro Ellipta, a once-daily medicine combining a long-acting muscarinic antagonist, umeclidinium bromide, LABA, VI.

Read More: If I purchase shares through a brokerage account, am I the holder of record?

Want to see what other hedge funds are holding INVA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Innoviva, Inc. (NASDAQ:INVA).

Institutional Ownership by Quarter for Innoviva (NASDAQ:INVA)

Receive News & Ratings for Innoviva Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Innoviva and related companies with MarketBeat.com's FREE daily email newsletter.