Squarepoint Ops LLC Purchases Shares of 134,019 Innoviva, Inc. (NASDAQ:INVA)

Squarepoint Ops LLC bought a new stake in Innoviva, Inc. (NASDAQ:INVA - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 134,019 shares of the biotechnology company's stock, valued at approximately $2,198,000. Squarepoint Ops LLC owned 0.21% of Innoviva as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Texas Permanent School Fund Corp lifted its position in Innoviva by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 49,358 shares of the biotechnology company's stock valued at $752,000 after buying an additional 662 shares during the period. ProShare Advisors LLC increased its stake in shares of Innoviva by 6.2% during the first quarter. ProShare Advisors LLC now owns 16,150 shares of the biotechnology company's stock valued at $246,000 after purchasing an additional 942 shares in the last quarter. SummerHaven Investment Management LLC lifted its holdings in shares of Innoviva by 1.7% during the second quarter. SummerHaven Investment Management LLC now owns 59,853 shares of the biotechnology company's stock valued at $982,000 after purchasing an additional 980 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Innoviva by 0.3% in the 1st quarter. Principal Financial Group Inc. now owns 323,991 shares of the biotechnology company's stock worth $4,938,000 after purchasing an additional 1,121 shares in the last quarter. Finally, Evergreen Capital Management LLC increased its position in Innoviva by 10.9% during the 2nd quarter. Evergreen Capital Management LLC now owns 12,321 shares of the biotechnology company's stock valued at $202,000 after buying an additional 1,209 shares in the last quarter. 99.12% of the stock is currently owned by institutional investors.

Innoviva Stock Performance

Shares of INVA traded up $0.17 on Friday, reaching $19.67. The company's stock had a trading volume of 282,819 shares, compared to its average volume of 584,402. Innoviva, Inc. has a 12-month low of $12.22 and a 12-month high of $20.19. The stock has a market capitalization of $1.23 billion, a P/E ratio of 8.78 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 stock's 50 day simple moving average is $19.03 and its two-hundred day simple moving average is $16.90.

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. StockNews.com downgraded Innoviva from a "strong-buy" rating to a "buy" rating in a report on Tuesday, August 6th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Innoviva in a report on Tuesday, July 30th.

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.