Innoviva, Inc. (NASDAQ:INVA) Shares Bought by Royce & Associates LP

Posted by on Aug 6th, 2023

Royce & Associates LP raised its position in Innoviva, Inc. (NASDAQ:INVA – Free Report) by 18.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 117,420 shares of the biotechnology company’s stock after buying an additional 18,054 shares during the quarter. Royce & Associates LP owned about 0.17% of Innoviva worth $1,321,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of INVA. Advisor Group Holdings Inc. grew its stake in shares of Innoviva by 12.4% during the 1st quarter. Advisor Group Holdings Inc. now owns 8,138 shares of the biotechnology company’s stock worth $153,000 after purchasing an additional 899 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Innoviva by 3.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,083 shares of the biotechnology company’s stock worth $385,000 after purchasing an additional 905 shares during the period. Meritage Portfolio Management grew its stake in shares of Innoviva by 4.4% during the 1st quarter. Meritage Portfolio Management now owns 21,960 shares of the biotechnology company’s stock worth $247,000 after purchasing an additional 921 shares during the period. Grimes & Company Inc. grew its stake in shares of Innoviva by 9.7% during the 1st quarter. Grimes & Company Inc. now owns 12,212 shares of the biotechnology company’s stock worth $137,000 after purchasing an additional 1,078 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Innoviva by 2.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,698 shares of the biotechnology company’s stock worth $605,000 after purchasing an additional 1,133 shares during the period. 99.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. StockNews.com cut shares of Innoviva from a “buy” rating to a “hold” rating in a research note on Friday. TheStreet raised shares of Innoviva from a “c+” rating to a “b-” rating in a research note on Wednesday, June 14th. Finally, EF Hutton Acquisition Co. I reissued a “buy” rating and issued a $22.50 price objective on shares of Innoviva in a research note on Thursday, April 20th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $15.17.

Insider Transactions at Innoviva

In related news, major shareholder Alexander J. Denner acquired 50,000 shares of the business’s stock in a transaction dated Wednesday, May 17th. The shares were acquired at an average cost of $13.07 per share, for a total transaction of $653,500.00. Following the acquisition, the insider now directly owns 6,954,000 shares in the company, valued at approximately $90,888,780. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Innoviva news, major shareholder Alexander J. Denner bought 7,000 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The stock was purchased at an average price of $13.04 per share, with a total value of $91,280.00. Following the transaction, the insider now owns 7,207,000 shares in the company, valued at $93,979,280. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Alexander J. Denner bought 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The shares were acquired at an average cost of $13.07 per share, with a total value of $653,500.00. Following the transaction, the insider now owns 6,954,000 shares in the company, valued at approximately $90,888,780. The disclosure for this purchase can be found here. Insiders have purchased a total of 517,000 shares of company stock worth $6,539,080 in the last three months. Company insiders own 1.40% of the company’s stock.

Innoviva Price Performance

NASDAQ:INVA opened at $13.57 on Friday. The firm has a market cap of $946.91 million, a price-to-earnings ratio of 6.00 and a beta of 0.53. The company has a current ratio of 8.21, a quick ratio of 6.47 and a debt-to-equity ratio of 0.80. The company’s 50-day moving average is $12.96 and its two-hundred day moving average is $12.35. Innoviva, Inc. has a 12-month low of $10.64 and a 12-month high of $14.87.

Innoviva (NASDAQ:INVA – Get Free Report) last released its earnings results on Tuesday, May 9th. The biotechnology company reported $0.42 earnings per share (EPS) for the quarter. The company had revenue of $76.37 million for the quarter, compared to analyst estimates of $68.04 million. Innoviva had a net margin of 80.35% and a return on equity of 19.28%.

Innoviva Company Profile

(Free Report)

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; and TRELEGY ELLIPTA, a once-daily combination medicine consisting of an ICS, LAMA, and LABA.

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Institutional Ownership by Quarter for Innoviva (NASDAQ:INVA)

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