Nuveen Asset Management LLC Boosts Position in Innoviva, Inc. (NASDAQ:INVA)


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Nuveen Asset Management LLC lifted its position in shares of Innoviva, Inc. (NASDAQ:INVA) by 0.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 511,961 shares of the biotechnology company’s stock after buying an additional 1,304 shares during the quarter. Nuveen Asset Management LLC’s holdings in Innoviva were worth $6,343,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its holdings in Innoviva by 0.4% during the 4th quarter. Wells Fargo & Company MN now owns 246,393 shares of the biotechnology company’s stock valued at $3,052,000 after acquiring an additional 981 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Innoviva by 2.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 39,076 shares of the biotechnology company’s stock valued at $484,000 after purchasing an additional 1,021 shares during the last quarter. Penserra Capital Management LLC increased its stake in shares of Innoviva by 174.9% during the 4th quarter. Penserra Capital Management LLC now owns 2,375 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 1,511 shares in the last quarter. Baird Financial Group Inc. grew its stake in Innoviva by 11.1% in the 4th quarter. Baird Financial Group Inc. now owns 16,664 shares of the biotechnology company’s stock worth $206,000 after acquiring an additional 1,660 shares during the period. Finally, Ellevest Inc. purchased a new stake in Innoviva in the 4th quarter worth approximately $25,000. 71.48% of the stock is owned by institutional investors and hedge funds.

In other Innoviva news, Director Innoviva, Inc. bought 1,867,912 shares of Innoviva stock in a transaction that occurred on Tuesday, January 26th. The shares were acquired at an average price of $3.25 per share, for a total transaction of $6,070,714.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.32% of the company’s stock.

Shares of INVA opened at $11.90 on Friday. The firm has a market cap of $1.21 billion, a PE ratio of 6.07 and a beta of 0.64. The company’s fifty day moving average is $11.82 and its two-hundred day moving average is $11.47. Innoviva, Inc. has a fifty-two week low of $9.21 and a fifty-two week high of $15.62. The company has a quick ratio of 146.75, a current ratio of 146.75 and a debt-to-equity ratio of 0.72.

Innoviva (NASDAQ:INVA) last announced its quarterly earnings results on Wednesday, February 3rd. The biotechnology company reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.08. The company had revenue of $90.48 million for the quarter. Innoviva had a net margin of 67.16% and a return on equity of 53.99%. As a group, equities research analysts anticipate that Innoviva, Inc. will post 2.4 earnings per share for the current year.

Several analysts have commented on INVA shares. TheStreet cut shares of Innoviva from a “b-” rating to a “c+” rating in a research note on Thursday, February 25th. Zacks Investment Research lowered shares of Innoviva from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 13th.

Innoviva Profile

Innoviva, Inc engages in the development and commercialization of pharmaceuticals. The company has long-acting beta2 agonist (LABA) collaboration agreement with Glaxo Group Limited to develop and commercialize once-daily products for the treatment of chronic obstructive pulmonary disease and asthma. Its 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), umeclidinium bromide (UMEC), with a LABA, and 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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