O Shaughnessy Asset Management LLC Purchases 8,240 Shares of Innoviva, Inc. (NASDAQ:INVA)

O Shaughnessy Asset Management LLC lifted its holdings in Innoviva, Inc. (NASDAQ:INVA) by 3.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 263,870 shares of the biotechnology company’s stock after purchasing an additional 8,240 shares during the period. O Shaughnessy Asset Management LLC owned about 0.42% of Innoviva worth $4,578,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Intech Investment Management LLC increased its stake in Innoviva by 28.8% in the 3rd quarter. Intech Investment Management LLC now owns 19,537 shares of the biotechnology company’s stock worth $377,000 after buying an additional 4,367 shares in the last quarter. Quantbot Technologies LP grew its position in shares of Innoviva by 171.5% during the third quarter. Quantbot Technologies LP now owns 26,599 shares of the biotechnology company’s stock worth $514,000 after purchasing an additional 16,801 shares in the last quarter. FMR LLC grew its position in shares of Innoviva by 8.2% during the third quarter. FMR LLC now owns 10,119 shares of the biotechnology company’s stock worth $195,000 after purchasing an additional 771 shares in the last quarter. Walleye Capital LLC bought a new stake in Innoviva during the 3rd quarter valued at approximately $214,000. Finally, Systematic Financial Management LP lifted its holdings in Innoviva by 4.7% in the 3rd quarter. Systematic Financial Management LP now owns 1,979,073 shares of the biotechnology company’s stock worth $38,216,000 after purchasing an additional 89,633 shares in the last quarter. Hedge funds and other institutional investors own 99.12% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Scotiabank began coverage on shares of Innoviva in a report on Friday, March 7th. They set a “sector outperform” rating and a $55.00 price objective for the company. StockNews.com downgraded shares of Innoviva from a “buy” rating to a “hold” rating in a report on Tuesday.

Innoviva Price Performance

Innoviva stock opened at $18.07 on Thursday. Innoviva, Inc. has a 52-week low of $14.33 and a 52-week high of $21.28. The company has a market cap of $1.13 billion, a price-to-earnings ratio of 26.19 and a beta of 0.56. The firm’s fifty day moving average is $17.96 and its 200 day moving average is $18.61. 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 announced its quarterly earnings results on Wednesday, February 26th. The biotechnology company reported $0.57 EPS for the quarter. Innoviva had a net margin of 18.31% and a return on equity of 20.84%. The firm had revenue of $91.81 million during the quarter. Sell-side analysts forecast that Innoviva, Inc. will post 0.33 EPS for the current fiscal year.

Insider Activity

In other Innoviva news, major shareholder Alexander J. Denner sold 151,175 shares of Innoviva stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $17.63, for a total transaction of $2,665,215.25. Following the completion of the transaction, the insider now directly owns 7,125,825 shares of the company’s stock, valued at $125,628,294.75. The trade was a 2.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

About Innoviva

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.