Innoviva Inc. (INVA) VP Theodore L. Witek, Jr. Sells 3,700 Shares
Innoviva Inc. (NASDAQ:INVA) VP Theodore L. Witek, Jr. sold 3,700 shares of the business’s stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $10.84, for a total value of $40,108.00. Following the completion of the sale, the vice president now owns 157,131 shares of the company’s stock, valued at $1,703,300.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Shares of Innoviva Inc. (NASDAQ:INVA) traded down 1.74% during mid-day trading on Wednesday, hitting $10.71. The company had a trading volume of 298,607 shares. The firm has a 50-day moving average price of $10.37 and a 200 day moving average price of $11.16. Innoviva Inc. has a 12 month low of $7.56 and a 12 month high of $14.15. The firm has a market capitalization of $1.16 billion, a P/E ratio of 31.32 and a beta of 2.17.
Innoviva (NASDAQ:INVA) last posted its quarterly earnings data on Thursday, October 27th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by $0.02. Innoviva had a negative return on equity of 13.60% and a net margin of 34.01%. The company had revenue of $33.30 million for the quarter, compared to analyst estimates of $38.71 million. During the same period in the previous year, the business posted ($0.04) earnings per share. The firm’s revenue was up 145.6% compared to the same quarter last year. On average, equities research analysts forecast that Innoviva Inc. will post $0.52 earnings per share for the current fiscal year.
A number of analysts have recently commented on INVA shares. Zacks Investment Research upgraded Innoviva from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research report on Tuesday, August 30th. TheStreet upgraded Innoviva from a “sell” rating to a “hold” rating in a research report on Thursday, July 28th. Cowen and Company upgraded Innoviva from a “market perform” rating to an “outperform” rating and set a $15.00 price objective for the company in a research report on Monday, October 31st. Finally, Robert W. Baird restated a “neutral” rating and issued a $11.00 price objective (up from $9.00) on shares of Innoviva in a research report on Sunday, July 31st.
Several hedge funds have recently bought and sold shares of the stock. UBS Asset Management Americas Inc. boosted its stake in Innoviva by 31.9% in the second quarter. UBS Asset Management Americas Inc. now owns 47,484 shares of the company’s stock valued at $500,000 after buying an additional 11,487 shares in the last quarter. First Trust Advisors LP acquired a new stake in Innoviva during the second quarter valued at approximately $1,121,000. DekaBank Deutsche Girozentrale boosted its stake in Innoviva by 13.5% in the second quarter. DekaBank Deutsche Girozentrale now owns 57,300 shares of the company’s stock valued at $609,000 after buying an additional 6,800 shares in the last quarter. Capital Fund Management S.A. acquired a new stake in Innoviva during the second quarter valued at approximately $560,000. Finally, American Century Companies Inc. acquired a new stake in Innoviva during the second quarter valued at approximately $4,332,000. 83.97% of the stock is owned by institutional investors and hedge funds.
Innoviva Company Profile
Innoviva, Inc, formerly Theravance, Inc, focuses on bringing new medicines to patients in areas of unmet need. The Company is engaged in the development, commercialization and financial management of bio-pharmaceuticals. Its portfolio focuses on the respiratory assets partnered with Glaxo Group Limited (GSK), including RELVAR/BREO ELLIPTA (fluticasone furoate/vilanterol (FF/VI)) and ANORO ELLIPTA (umeclidinium bromide/vilanterol (UMEC/VI)).
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