Insider Selling: Innoviva, Inc. (INVA) VP Sells $69,150.90 in Stock
Innoviva, Inc. (NASDAQ:INVA) VP George B. Abercrombie sold 5,215 shares of the business’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $13.26, for a total value of $69,150.90. Following the sale, the vice president now owns 263,866 shares in the company, valued at approximately $3,498,863.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Innoviva, Inc. (NASDAQ:INVA) traded down $0.16 on Friday, hitting $13.26. The company had a trading volume of 302,432 shares, compared to its average volume of 910,223. The company has a debt-to-equity ratio of -2.59, a current ratio of 6.71 and a quick ratio of 6.71. The stock has a market capitalization of $1,449.56, a PE ratio of 15.43 and a beta of 2.51. Innoviva, Inc. has a 52-week low of $10.07 and a 52-week high of $14.87.
Innoviva (NASDAQ:INVA) last issued its earnings results on Wednesday, October 25th. The biotechnology company reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.13). The company had revenue of $48.64 million during the quarter, compared to analysts’ expectations of $57.18 million. Innoviva had a net margin of 52.91% and a negative return on equity of 33.55%. The firm’s quarterly revenue was up 46.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.13 earnings per share. sell-side analysts predict that Innoviva, Inc. will post 1.08 EPS for the current year.
INVA has been the topic of a number of research analyst reports. ValuEngine upgraded Innoviva from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Zacks Investment Research downgraded Innoviva from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 16th. Cowen Inc set a $16.00 target price on Innoviva and gave the stock a “buy” rating in a report on Friday, July 28th. Stifel Nicolaus reissued a “hold” rating and issued a $15.00 price target on shares of Innoviva in a report on Friday, July 28th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $8.00 price target (up from $7.00) on shares of Innoviva in a report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $13.50.
A number of large investors have recently modified their holdings of the business. FMR LLC raised its position in Innoviva by 5.3% in the 2nd quarter. FMR LLC now owns 16,017,256 shares of the biotechnology company’s stock valued at $205,021,000 after purchasing an additional 802,605 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Innoviva by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 7,459,616 shares of the biotechnology company’s stock worth $95,483,000 after acquiring an additional 226,969 shares in the last quarter. Sarissa Capital Management LP raised its position in shares of Innoviva by 3.2% during the 3rd quarter. Sarissa Capital Management LP now owns 3,600,705 shares of the biotechnology company’s stock worth $50,841,000 after acquiring an additional 110,000 shares in the last quarter. State Street Corp raised its position in shares of Innoviva by 14.7% during the 2nd quarter. State Street Corp now owns 2,717,255 shares of the biotechnology company’s stock worth $34,782,000 after acquiring an additional 348,584 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of Innoviva by 11.3% during the 2nd quarter. Northern Trust Corp now owns 1,243,046 shares of the biotechnology company’s stock worth $15,911,000 after acquiring an additional 126,246 shares in the last quarter. Institutional investors own 72.14% of the company’s stock.
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Innoviva Company Profile
Innoviva, Inc, formerly Theravance, Inc, is engaged in the development, commercialization and financial management of bio-pharmaceuticals. It focuses on the respiratory assets partnered with Glaxo Group Limited (GSK), including RELVAR/BREO ELLIPTA (fluticasone furoate (FF)/vilanterol (VI)) and ANORO ELLIPTA (umeclidinium bromide/vilanterol (UMEC/VI)).
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