Foundry Partners LLC trimmed its stake in Innoviva Inc (NASDAQ:INVA) by 44.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 75,440 shares of the biotechnology company’s stock after selling 59,397 shares during the period. Foundry Partners LLC’s holdings in Innoviva were worth $1,070,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of INVA. Schwab Charles Investment Management Inc. grew its holdings in Innoviva by 1.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 348,340 shares of the biotechnology company’s stock worth $4,459,000 after purchasing an additional 3,863 shares during the period. Alliancebernstein L.P. grew its holdings in Innoviva by 82.3% in the second quarter. Alliancebernstein L.P. now owns 271,692 shares of the biotechnology company’s stock worth $3,478,000 after purchasing an additional 122,620 shares during the period. Teachers Advisors LLC grew its holdings in Innoviva by 17.5% in the second quarter. Teachers Advisors LLC now owns 159,667 shares of the biotechnology company’s stock worth $2,044,000 after purchasing an additional 23,819 shares during the period. TIAA CREF Investment Management LLC grew its holdings in Innoviva by 38.9% in the second quarter. TIAA CREF Investment Management LLC now owns 310,316 shares of the biotechnology company’s stock worth $3,972,000 after purchasing an additional 86,864 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in Innoviva by 36.1% in the second quarter. Ameriprise Financial Inc. now owns 557,455 shares of the biotechnology company’s stock worth $7,135,000 after purchasing an additional 147,765 shares during the period. Institutional investors and hedge funds own 74.31% of the company’s stock.

In related news, CFO Eric Desparbes sold 15,285 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $13.28, for a total transaction of $202,984.80. Following the transaction, the chief financial officer now directly owns 337,027 shares in the company, valued at $4,475,718.56. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael W. Aguiar sold 12,022 shares of the business’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $13.13, for a total transaction of $157,848.86. Following the transaction, the insider now owns 980,907 shares in the company, valued at $12,879,308.91. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,522 shares of company stock worth $429,985. 1.60% of the stock is owned by corporate insiders.

A number of equities research analysts have commented on the stock. BidaskClub upgraded shares of Innoviva from a “hold” rating to a “buy” rating in a report on Thursday, December 21st. Cowen set a $16.00 price objective on shares of Innoviva and gave the company a “buy” rating in a report on Monday, October 23rd. Morgan Stanley reiterated an “underweight” rating and set a $8.00 price objective (up from $7.00) on shares of Innoviva in a report on Friday, October 6th. Zacks Investment Research cut shares of Innoviva from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Finally, Deutsche Bank started coverage on shares of Innoviva in a report on Monday, November 20th. They set a “hold” rating and a $13.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $13.50.

Innoviva Inc (NASDAQ INVA) opened at $14.59 on Thursday. Innoviva Inc has a twelve month low of $10.30 and a twelve month high of $16.11. The stock has a market cap of $1,623.46, a PE ratio of 17.28 and a beta of 2.52. The company has a current ratio of 6.71, a quick ratio of 6.71 and a debt-to-equity ratio of -2.59.

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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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Institutional Ownership by Quarter for Innoviva (NASDAQ:INVA)

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