Innoviva, Inc. (NASDAQ:INVA) Major Shareholder Alexander J. Denner Sells 1,196,746 Shares of Stock

Innoviva, Inc. (NASDAQ:INVA) major shareholder Alexander J. Denner sold 1,196,746 shares of Innoviva stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $17.52, for a total value of $20,966,989.92. Following the sale, the insider now owns 5,658,705 shares of the company’s stock, valued at approximately $99,140,511.60. This trade represents a 17.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Innoviva Stock Performance

NASDAQ INVA opened at $17.59 on Friday. Innoviva, Inc. has a 52-week low of $14.33 and a 52-week high of $21.28. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.64 and a current ratio of 1.79. The company has a market capitalization of $1.10 billion, a P/E ratio of 25.49 and a beta of 0.56. The company has a fifty day moving average of $18.03 and a 200-day moving average of $18.83.

Innoviva (NASDAQ:INVA) last posted its quarterly earnings data on Wednesday, February 26th. The biotechnology company reported $0.57 earnings per share (EPS) for the quarter. Innoviva had a net margin of 18.31% and a return on equity of 20.84%. The company had revenue of $91.81 million during the quarter. As a group, equities research analysts predict that Innoviva, Inc. will post 0.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Innoviva from a “buy” rating to a “hold” rating in a research note on Saturday, February 22nd.

Institutional Trading of Innoviva

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in Innoviva by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 6,312,631 shares of the biotechnology company’s stock worth $109,524,000 after purchasing an additional 84,934 shares during the period. Dimensional Fund Advisors LP raised its position in Innoviva by 4.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,919,518 shares of the biotechnology company’s stock worth $85,354,000 after purchasing an additional 226,592 shares during the period. Pacer Advisors Inc. raised its position in Innoviva by 4.3% in the 4th quarter. Pacer Advisors Inc. now owns 2,932,113 shares of the biotechnology company’s stock worth $50,872,000 after purchasing an additional 121,162 shares during the period. Systematic Financial Management LP raised its position in Innoviva by 2.5% in the 4th quarter. Systematic Financial Management LP now owns 2,029,069 shares of the biotechnology company’s stock worth $35,204,000 after purchasing an additional 49,996 shares during the period. Finally, American Century Companies Inc. raised its position in Innoviva by 35.2% in the 4th quarter. American Century Companies Inc. now owns 1,424,315 shares of the biotechnology company’s stock worth $24,712,000 after purchasing an additional 370,795 shares during the period. 99.12% of the stock is owned by institutional investors.

About Innoviva

Innoviva, Inc engages in the development and commercialization of pharmaceutical products in the United States and internationally. The company’s products include RELVAR/BREO ELLIPTA, a once-daily combination medicine consisting of a LABA, vilanterol (VI), an inhaled corticosteroid (ICS), and fluticasone furoate; ANORO ELLIPTA, a once-daily medicine combining a long-acting muscarinic antagonist (LAMA) and umeclidinium bromide (UMEC) with a LABA, VI; GIAPREZA (angiotensin II), a vasoconstrictor to increase blood pressure in adults with septic or other distributive shock; XERAVA (eravacycline) for the treatment of complicated intra-abdominal infections in adults; and XACDURO, a beta lactamase inhibitor for the treatment of hospital-acquired bacterial pneumonia and ventilator-associated bacterial pneumonia.