Innoviva (INVA) CFO Sells $83,635.20 in Stock

Innoviva (NASDAQ:INVA) CFO Eric Desparbes sold 5,808 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 $83,635.20. Following the completion of the sale, the chief financial officer now directly owns 376,965 shares of the company’s stock, valued at $5,428,296. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Eric Desparbes also recently made the following trade(s):

  • On Wednesday, February 21st, Eric Desparbes sold 5,378 shares of Innoviva stock. The shares were sold at an average price of $16.52, for a total value of $88,844.56.

Shares of Innoviva traded up $0.11, hitting $14.26, during mid-day trading on Friday, according to Marketbeat.com. 5,369 shares of the company were exchanged, compared to its average volume of 874,758. The company has a debt-to-equity ratio of -2.28, a current ratio of 27.89 and a quick ratio of 27.89. Innoviva has a 1-year low of $11.47 and a 1-year high of $17.99. The company has a market cap of $1.44 billion, a PE ratio of 12.03 and a beta of 2.12.

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

Several research firms have recently weighed in on INVA. Zacks Investment Research downgraded Innoviva from a “buy” rating to a “hold” rating in a report on Tuesday, May 1st. BidaskClub downgraded Innoviva from a “buy” rating to a “hold” rating in a report on Saturday, April 28th. Stifel Nicolaus decreased their price objective on Innoviva from $17.00 to $16.00 and set a “hold” rating for the company in a report on Friday, April 27th. Berenberg Bank initiated coverage on Innoviva in a report on Thursday, April 19th. They issued a “buy” rating for the company. Finally, ValuEngine raised Innoviva from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $13.67.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its holdings in shares of Innoviva by 32.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,723,286 shares of the biotechnology company’s stock worth $28,727,000 after purchasing an additional 426,055 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Innoviva by 43.2% during the fourth quarter. Renaissance Technologies LLC now owns 1,518,900 shares of the biotechnology company’s stock worth $21,553,000 after purchasing an additional 458,520 shares during the period. First Eagle Investment Management LLC lifted its holdings in shares of Innoviva by 5.9% during the first quarter. First Eagle Investment Management LLC now owns 1,364,550 shares of the biotechnology company’s stock worth $22,747,000 after purchasing an additional 76,400 shares during the period. UBS Group AG raised its position in Innoviva by 288.2% in the first quarter. UBS Group AG now owns 708,334 shares of the biotechnology company’s stock worth $11,808,000 after acquiring an additional 525,859 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in Innoviva by 8.3% in the first quarter. Victory Capital Management Inc. now owns 641,273 shares of the biotechnology company’s stock worth $10,690,000 after acquiring an additional 49,241 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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