AlphaQuest LLC acquired a new position in shares of Innoviva, Inc. (NASDAQ:INVA - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 48,878 shares of the biotechnology company's stock, valued at approximately $848,000. AlphaQuest LLC owned about 0.08% of Innoviva at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Barclays PLC boosted its stake in Innoviva by 254.2% in the third quarter. Barclays PLC now owns 100,594 shares of the biotechnology company's stock valued at $1,942,000 after acquiring an additional 72,192 shares during the last quarter. Jane Street Group LLC boosted its position in shares of Innoviva by 46.4% in the 3rd quarter. Jane Street Group LLC now owns 136,361 shares of the biotechnology company's stock worth $2,633,000 after purchasing an additional 43,218 shares during the last quarter. FMR LLC increased its holdings in Innoviva by 8.2% in the third quarter. FMR LLC now owns 10,119 shares of the biotechnology company's stock valued at $195,000 after purchasing an additional 771 shares during the last quarter. Segall Bryant & Hamill LLC bought a new stake in Innoviva in the third quarter valued at about $715,000. Finally, Victory Capital Management Inc. lifted its stake in Innoviva by 3.5% in the third quarter. Victory Capital Management Inc. now owns 140,454 shares of the biotechnology company's stock valued at $2,712,000 after buying an additional 4,699 shares during the period. 99.12% of the stock is currently owned by institutional investors and hedge funds.
Innoviva Stock Performance
NASDAQ:INVA remained flat at $17.39 on Friday. The company's stock had a trading volume of 972,585 shares, compared to its average volume of 586,340. Innoviva, Inc. has a 1 year low of $14.33 and a 1 year high of $21.28. The stock's fifty day moving average price is $18.04 and its 200-day moving average price is $18.79. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 25.20 and a beta of 0.56. The company has a current ratio of 1.79, a quick ratio of 1.64 and a debt-to-equity ratio of 0.38.
Innoviva (NASDAQ:INVA - Get Free Report) 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 for the quarter. As a group, sell-side analysts expect that Innoviva, Inc. will post 0.33 EPS for the current year.
Insider Activity
In related news, major shareholder Alexander J. Denner sold 1,196,746 shares of the firm's 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 completion of the sale, the insider now directly owns 5,658,705 shares in the company, valued at approximately $99,140,511.60. This trade represents a 17.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.70% of the stock is owned by corporate insiders.
Analyst Ratings Changes
A number of analysts have recently commented on the company. Scotiabank initiated coverage on Innoviva in a research note on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 price target for the company. StockNews.com upgraded shares of Innoviva from a "hold" rating to a "buy" rating in a report on Friday, March 7th.
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About Innoviva
(
Free Report)
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.
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