Caxton Associates LP Acquires 72,716 Shares of Innoviva, Inc. (NASDAQ:INVA)

Caxton Associates LP boosted its holdings in shares of Innoviva, Inc. (NASDAQ:INVA - Free Report) by 204.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 108,277 shares of the biotechnology company's stock after purchasing an additional 72,716 shares during the period. Caxton Associates LP owned approximately 0.17% of Innoviva worth $1,776,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. SageView Advisory Group LLC acquired a new stake in shares of Innoviva during the 1st quarter valued at $1,555,000. CWA Asset Management Group LLC purchased a new stake in shares of Innoviva during the fourth quarter valued at $4,070,000. Boston Partners lifted its holdings in shares of Innoviva by 90.3% during the first quarter. Boston Partners now owns 391,456 shares of the biotechnology company's stock valued at $5,966,000 after purchasing an additional 185,784 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its position in shares of Innoviva by 108.8% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 73,066 shares of the biotechnology company's stock valued at $1,114,000 after purchasing an additional 38,080 shares during the period. Finally, Victory Capital Management Inc. increased its stake in Innoviva by 63.1% in the 2nd quarter. Victory Capital Management Inc. now owns 135,755 shares of the biotechnology company's stock worth $2,226,000 after purchasing an additional 52,523 shares in the last quarter. 99.12% of the stock is currently owned by institutional investors.

Innoviva Stock Up 0.4 %

Innoviva stock traded up $0.08 during mid-day trading on Thursday, hitting $18.94. The company's stock had a trading volume of 393,059 shares, compared to its average volume of 586,329. Innoviva, Inc. has a 52-week low of $12.22 and a 52-week high of $20.19. The company has a market cap of $1.18 billion, a PE ratio of 8.55 and a beta of 0.57. The company has a debt-to-equity ratio of 0.67, a current ratio of 12.70 and a quick ratio of 11.40. The firm's 50 day moving average is $18.82 and its 200 day moving average is $16.72.

Innoviva (NASDAQ:INVA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The biotechnology company reported $0.68 EPS for the quarter. The business had revenue of $99.90 million during the quarter. Innoviva had a net margin of 44.00% and a return on equity of 33.26%. On average, analysts anticipate that Innoviva, Inc. will post 0.5 earnings per share for the current year.

Wall Street Analyst Weigh In

INVA has been the subject of several recent analyst reports. Cantor Fitzgerald reiterated an "overweight" rating on shares of Innoviva in a report on Tuesday, July 30th. StockNews.com cut shares of Innoviva from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, August 6th.

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.