George B. Abercrombie Sells 8,000 Shares of Innoviva (INVA) Stock

Innoviva (NASDAQ:INVA) VP George B. Abercrombie sold 8,000 shares of the stock in a transaction that occurred on Monday, May 21st. The shares were sold at an average price of $14.40, for a total value of $115,200.00. Following the sale, the vice president now owns 305,235 shares of the company’s stock, valued at approximately $4,395,384. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Innoviva stock traded down $0.38 during trading hours on Tuesday, hitting $14.09. The stock had a trading volume of 871,500 shares, compared to its average volume of 985,699. The company has a quick ratio of 27.89, a current ratio of 27.89 and a debt-to-equity ratio of -2.28. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of 12.04 and a beta of 2.12. Innoviva has a fifty-two week low of $11.47 and a fifty-two week high of $17.99.

Innoviva (NASDAQ:INVA) last posted its quarterly earnings results on Thursday, April 26th. The biotechnology company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.23). The firm had revenue of $52.40 million during the quarter, compared to analyst estimates of $71.84 million. Innoviva had a net margin of 64.11% and a negative return on equity of 63.57%. The company’s revenue was up 29.4% on a year-over-year basis. During the same period last year, the company earned $0.19 EPS. analysts expect that Innoviva will post 2.09 earnings per share for the current fiscal year.

INVA has been the subject of several recent analyst reports. TheStreet upgraded Innoviva from a “c+” rating to a “b” rating in a research note on Friday, February 9th. ValuEngine upgraded Innoviva from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Zacks Investment Research upgraded Innoviva from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Friday, April 27th. Berenberg Bank initiated coverage on Innoviva in a research note on Thursday, April 19th. They set a “buy” rating for the company. Finally, BidaskClub downgraded Innoviva from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, April 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $13.67.

A number of institutional investors have recently bought and sold shares of the business. Meadow Creek Investment Management LLC raised its holdings in Innoviva by 30.0% in the 4th quarter. Meadow Creek Investment Management LLC now owns 14,084 shares of the biotechnology company’s stock valued at $200,000 after acquiring an additional 3,248 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Innoviva by 1.0% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 422,680 shares of the biotechnology company’s stock valued at $7,047,000 after acquiring an additional 4,230 shares in the last quarter. Acadian Asset Management LLC raised its holdings in Innoviva by 0.9% in the 4th quarter. Acadian Asset Management LLC now owns 502,352 shares of the biotechnology company’s stock valued at $7,129,000 after acquiring an additional 4,289 shares in the last quarter. Aperio Group LLC raised its holdings in Innoviva by 24.0% in the 4th quarter. Aperio Group LLC now owns 24,852 shares of the biotechnology company’s stock valued at $353,000 after acquiring an additional 4,808 shares in the last quarter. Finally, Affinity Investment Advisors LLC raised its holdings in Innoviva by 24.2% in the 1st quarter. Affinity Investment Advisors LLC now owns 28,098 shares of the biotechnology company’s stock valued at $468,000 after acquiring an additional 5,483 shares in the last quarter. 74.49% of the stock is owned by hedge funds and other institutional investors.

Innoviva Company Profile

Innoviva, Inc engages in the development and commercialization of bio-pharmaceuticals. Its portfolio of respiratory products include RELVAR/BREO ELLIPTA, (fluticasone furoate/ vilanterol, FF/VI); ANORO ELLIPTA (umeclidinium bromide/ vilanterol, UMEC/VI); and TRELEGY ELLIPTA (the combination FF/UMEC/VI).

Insider Buying and Selling by Quarter for Innoviva (NASDAQ:INVA)

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