Robeco Institutional Asset Management B.V. Boosts Stake in Innoviva Inc (INVA)

Robeco Institutional Asset Management B.V. lifted its stake in shares of Innoviva Inc (NASDAQ:INVA) by 69.7% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 214,744 shares of the biotechnology company’s stock after buying an additional 88,183 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Innoviva were worth $3,271,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Xact Kapitalforvaltning AB raised its stake in Innoviva by 70.6% in the 3rd quarter. Xact Kapitalforvaltning AB now owns 25,376 shares of the biotechnology company’s stock worth $387,000 after purchasing an additional 10,500 shares in the last quarter. First Quadrant L P CA raised its stake in Innoviva by 506.7% in the 3rd quarter. First Quadrant L P CA now owns 11,012 shares of the biotechnology company’s stock worth $168,000 after purchasing an additional 9,197 shares in the last quarter. MERIAN GLOBAL INVESTORS UK Ltd raised its stake in Innoviva by 41.2% in the 3rd quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 1,469,857 shares of the biotechnology company’s stock worth $22,400,000 after purchasing an additional 428,656 shares in the last quarter. First Hawaiian Bank acquired a new stake in Innoviva in the 3rd quarter worth about $424,000. Finally, Aurora Investment Counsel raised its stake in Innoviva by 5.2% in the 3rd quarter. Aurora Investment Counsel now owns 109,100 shares of the biotechnology company’s stock worth $1,663,000 after purchasing an additional 5,433 shares in the last quarter. Institutional investors own 72.44% of the company’s stock.

Shares of Innoviva stock opened at $15.88 on Monday. Innoviva Inc has a twelve month low of $12.12 and a twelve month high of $17.99. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of 13.57 and a beta of 2.19.

Innoviva (NASDAQ:INVA) last issued its quarterly earnings data on Wednesday, October 31st. The biotechnology company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.06). Innoviva had a negative return on equity of 110.01% and a net margin of 75.67%. The business had revenue of $61.70 million during the quarter, compared to analyst estimates of $64.00 million. During the same quarter last year, the firm earned $0.21 EPS. Innoviva’s revenue for the quarter was up 27.0% compared to the same quarter last year. Equities analysts expect that Innoviva Inc will post 1.83 earnings per share for the current fiscal year.

In other Innoviva news, VP Theodore J. Jr. Witek sold 8,504 shares of the firm’s stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $14.12, for a total value of $120,076.48. Following the transaction, the vice president now directly owns 256,271 shares of the company’s stock, valued at approximately $3,618,546.52. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.44% of the stock is owned by company insiders.

Several analysts have weighed in on the stock. BidaskClub cut shares of Innoviva from a “hold” rating to a “sell” rating in a research note on Thursday, July 26th. ValuEngine upgraded shares of Innoviva from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $15.00.

About Innoviva

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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Institutional Ownership by Quarter for Innoviva (NASDAQ:INVA)

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