Wells Fargo & Company MN boosted its stake in shares of Innoviva Inc. (NASDAQ:INVA) by 28.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,470,728 shares of the company’s stock after buying an additional 324,470 shares during the period. Wells Fargo & Company MN owned approximately 1.32% of Innoviva worth $16,164,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in INVA. TIAA CREF Investment Management LLC purchased a new stake in shares of Innoviva during the first quarter valued at $3,391,000. BlackRock Group LTD purchased a new stake in shares of Innoviva during the first quarter valued at $867,000. Goldman Sachs Group Inc. purchased a new stake in shares of Innoviva during the first quarter valued at $1,869,000. Fox Run Management L.L.C. increased its stake in shares of Innoviva by 169.8% in the second quarter. Fox Run Management L.L.C. now owns 43,700 shares of the company’s stock valued at $460,000 after buying an additional 27,500 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. purchased a new stake in shares of Innoviva during the second quarter valued at $882,000. 83.97% of the stock is currently owned by institutional investors and hedge funds.
Innoviva Inc. (NASDAQ:INVA) traded up 0.73% on Friday, reaching $11.02. 428,439 shares of the company traded hands. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 32.22 and a beta of 2.17. Innoviva Inc. has a 1-year low of $7.56 and a 1-year high of $14.15. The stock has a 50 day moving average of $10.35 and a 200-day moving average of $11.15.
Innoviva (NASDAQ:INVA) last released its quarterly earnings results on Thursday, October 27th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by $0.02. Innoviva had a net margin of 34.01% and a negative return on equity of 13.60%. The company earned $33.30 million during the quarter, compared to analyst estimates of $38.71 million. During the same period in the prior year, the business posted ($0.04) EPS. Innoviva’s revenue was up 145.6% compared to the same quarter last year. On average, equities analysts anticipate that Innoviva Inc. will post $0.52 EPS for the current year.
Several equities research analysts have recently weighed in on INVA shares. Robert W. Baird reissued a “neutral” rating and issued a $11.00 target price (up previously from $9.00) on shares of Innoviva in a research note on Sunday, July 31st. Zacks Investment Research downgraded shares of Innoviva from a “buy” rating to a “hold” rating in a research note on Wednesday, August 10th. Finally, Cowen and Company raised shares of Innoviva from a “market perform” rating to an “outperform” rating and set a $15.00 target price on the stock in a research note on Monday, October 31st.
In other Innoviva news, VP Theodore L. Witek, Jr. sold 3,700 shares of Innoviva stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $10.84, for a total transaction of $40,108.00. Following the sale, the vice president now owns 157,131 shares of the company’s stock, valued at approximately $1,703,300.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.60% of the stock is currently owned by corporate insiders.
Innoviva Company Profile