Karp Capital Management Corp Purchases Shares of 20,253 Innoviva, Inc. (NASDAQ:INVA)

Karp Capital Management Corp bought a new stake in shares of Innoviva, Inc. (NASDAQ:INVA) during the first quarter, according to its most recent filing with the SEC. The fund bought 20,253 shares of the biotechnology company’s stock, valued at approximately $280,000.

Other institutional investors have also recently bought and sold shares of the company. Teachers Advisors LLC raised its position in Innoviva by 0.7% in the fourth quarter. Teachers Advisors LLC now owns 131,396 shares of the biotechnology company’s stock valued at $1,406,000 after buying an additional 879 shares during the period. Norges Bank purchased a new position in Innoviva during the fourth quarter valued at $10,334,000. Thrivent Financial for Lutherans purchased a new position in Innoviva during the fourth quarter valued at $444,000. Teachers Retirement System of The State of Kentucky purchased a new position in Innoviva during the fourth quarter valued at $372,000. Finally, Guggenheim Capital LLC raised its position in Innoviva by 274.9% in the fourth quarter. Guggenheim Capital LLC now owns 272,873 shares of the biotechnology company’s stock valued at $2,920,000 after buying an additional 200,097 shares during the period. 74.62% of the stock is owned by hedge funds and other institutional investors.

Innoviva, Inc. (NASDAQ INVA) traded up 0.66% during midday trading on Friday, reaching $13.77. 783,157 shares of the company were exchanged. The company has a 50 day moving average of $12.78 and a 200-day moving average of $12.31. Innoviva, Inc. has a 52-week low of $8.67 and a 52-week high of $14.55. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 17.23 and a beta of 2.56.

Innoviva (NASDAQ:INVA) last released its quarterly earnings data on Wednesday, July 26th. The biotechnology company reported $0.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.02. The firm had revenue of $58.60 million during the quarter, compared to analysts’ expectations of $50.53 million. Innoviva had a negative return on equity of 27.37% and a net margin of 52.56%. Innoviva’s revenue was up 80.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.13 earnings per share. On average, equities research analysts anticipate that Innoviva, Inc. will post $1.11 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This story was reported by Chaffey Breeze and is the property of of Chaffey Breeze. If you are viewing this story on another website, it was stolen and reposted in violation of international trademark & copyright laws. The legal version of this story can be accessed at https://www.chaffeybreeze.com/2017/07/30/karp-capital-management-corp-acquires-new-position-in-innoviva-inc-nasdaqinva-updated-updated-updated.html.

Several research firms have recently weighed in on INVA. Cowen and Company set a $16.00 target price on shares of Innoviva and gave the company a “buy” rating in a report on Friday. Stifel Nicolaus reissued a “hold” rating and issued a $15.00 price target on shares of Innoviva in a research note on Friday. Robert W. Baird reissued a “neutral” rating and issued a $13.00 price target (up previously from $11.00) on shares of Innoviva in a research note on Thursday. Zacks Investment Research cut shares of Innoviva from a “hold” rating to a “sell” rating in a research note on Monday, July 3rd. Finally, ValuEngine cut shares of Innoviva from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $14.25.

In other Innoviva news, VP Theodore J. Jr. Witek sold 7,815 shares of the stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $12.01, for a total value of $93,858.15. Following the completion of the transaction, the vice president now owns 251,968 shares in the company, valued at $3,026,135.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.60% of the company’s stock.

About Innoviva

Innoviva, Inc, formerly Theravance, Inc, is engaged in the development, commercialization and financial management of bio-pharmaceuticals. It focuses on the respiratory assets partnered with Glaxo Group Limited (GSK), including RELVAR/BREO ELLIPTA (fluticasone furoate (FF)/vilanterol (VI)) and ANORO ELLIPTA (umeclidinium bromide/vilanterol (UMEC/VI)).

Institutional Ownership by Quarter for Innoviva (NASDAQ:INVA)

Receive News & Ratings for Innoviva Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Innoviva Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply