Innoviva, Inc. (NASDAQ:INVA) Shares Sold by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP cut its holdings in shares of Innoviva, Inc. (NASDAQ:INVA - Free Report) by 59.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 138,689 shares of the biotechnology company's stock after selling 204,870 shares during the period. ExodusPoint Capital Management LP owned about 0.22% of Innoviva worth $2,406,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Innoviva by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 6,312,631 shares of the biotechnology company's stock worth $109,524,000 after buying an additional 84,934 shares in the last quarter. Pacer Advisors Inc. grew its stake in Innoviva by 4.3% during 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 in the last quarter. American Century Companies Inc. boosted its stake in shares of Innoviva by 35.2% in the 4th quarter. American Century Companies Inc. now owns 1,424,315 shares of the biotechnology company's stock valued at $24,712,000 after buying an additional 370,795 shares during the period. Geode Capital Management LLC raised its holdings in Innoviva by 1.0% in the third quarter. Geode Capital Management LLC now owns 1,357,557 shares of the biotechnology company's stock valued at $26,219,000 after acquiring an additional 13,257 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Innoviva by 7.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,146,243 shares of the biotechnology company's stock worth $19,887,000 after acquiring an additional 81,142 shares in the last quarter. Hedge funds and other institutional investors own 99.12% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

INVA has been the subject of several recent analyst reports. Scotiabank assumed coverage on shares of Innoviva in a research report on Friday, March 7th. They set a "sector outperform" rating and a $55.00 price objective for the company. StockNews.com lowered shares of Innoviva from a "buy" rating to a "hold" rating in a research note on Tuesday, April 1st.

Innoviva Stock Performance

Shares of Innoviva stock traded up $0.42 during trading on Friday, reaching $17.52. The company's stock had a trading volume of 886,422 shares, compared to its average volume of 628,788. The company has a 50-day moving average price of $17.73 and a two-hundred day moving average price of $18.49. Innoviva, Inc. has a fifty-two week low of $14.33 and a fifty-two week high of $21.28. The firm has a market cap of $1.10 billion, a PE ratio of 25.39 and a beta of 0.48. 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 announced its earnings results on Wednesday, February 26th. The biotechnology company reported $0.57 EPS for the quarter. Innoviva had a net margin of 18.31% and a return on equity of 20.84%. The business had revenue of $91.81 million during the quarter. On average, analysts forecast that Innoviva, Inc. will post 0.33 EPS for the current year.

Insider Activity

In other news, major shareholder Alexander J. Denner sold 151,175 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $17.63, for a total value of $2,665,215.25. Following the completion of the sale, the insider now directly owns 7,125,825 shares of the company's stock, valued at $125,628,294.75. This trade represents a 2.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.70% of the company's stock.

Innoviva Profile

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.