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.
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).
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