72,400 Shares in Innoviva, Inc. (NASDAQ:INVA) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new stake in shares of Innoviva, Inc. (NASDAQ:INVA) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 72,400 shares of the biotechnology company’s stock, valued at approximately $1,256,000. KLP Kapitalforvaltning AS owned 0.12% of Innoviva as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. KBC Group NV boosted its stake in shares of Innoviva by 73.9% during the fourth quarter. KBC Group NV now owns 4,100 shares of the biotechnology company’s stock valued at $71,000 after purchasing an additional 1,743 shares during the period. FMR LLC boosted its position in Innoviva by 8.2% in the 3rd quarter. FMR LLC now owns 10,119 shares of the biotechnology company’s stock valued at $195,000 after buying an additional 771 shares during the period. Walleye Capital LLC purchased a new stake in Innoviva in the 3rd quarter valued at about $214,000. World Investment Advisors LLC bought a new position in Innoviva in the 3rd quarter worth about $217,000. Finally, China Universal Asset Management Co. Ltd. increased its position in shares of Innoviva by 10.3% during the fourth 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 period. Institutional investors own 99.12% of the company’s stock.

Analyst Upgrades and Downgrades

INVA has been the subject of a number of research reports. Scotiabank began coverage on Innoviva in a report on Friday, March 7th. They issued a “sector outperform” rating and a $55.00 price target for the company. StockNews.com upgraded Innoviva from a “hold” rating to a “buy” rating in a report on Monday, March 24th.

Insider Activity

In related news, major shareholder Alexander J. Denner sold 151,175 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $17.63, for a total transaction of $2,665,215.25. Following the sale, the insider now owns 7,125,825 shares of the company’s stock, valued at $125,628,294.75. This trade represents a 2.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.70% of the company’s stock.

Innoviva Trading Up 1.7 %

NASDAQ INVA opened at $18.18 on Friday. Innoviva, Inc. has a one year low of $14.33 and a one year high of $21.28. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.64 and a current ratio of 1.79. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 26.35 and a beta of 0.56. The company’s 50-day simple moving average is $17.99 and its two-hundred day simple moving average is $18.64.

Innoviva (NASDAQ:INVA) last released its quarterly earnings data on Wednesday, February 26th. The biotechnology company reported $0.57 earnings per share (EPS) for the quarter. The firm had revenue of $91.81 million for the quarter. Innoviva had a net margin of 18.31% and a return on equity of 20.84%. Equities analysts forecast that Innoviva, Inc. will post 0.33 EPS for the current fiscal year.

Innoviva Company 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.