AlphaQuest LLC Buys New Shares in Innoviva, Inc. (NASDAQ:INVA)

AlphaQuest LLC bought a new stake in shares of Innoviva, Inc. (NASDAQ:INVA) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 48,878 shares of the biotechnology company’s stock, valued at approximately $848,000. AlphaQuest LLC owned about 0.08% of Innoviva as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Barclays PLC grew its holdings in shares of Innoviva by 254.2% during the 3rd quarter. Barclays PLC now owns 100,594 shares of the biotechnology company’s stock valued at $1,942,000 after purchasing an additional 72,192 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of Innoviva by 46.4% during the 3rd quarter. Jane Street Group LLC now owns 136,361 shares of the biotechnology company’s stock valued at $2,633,000 after purchasing an additional 43,218 shares during the last quarter. FMR LLC grew its holdings in shares of Innoviva by 8.2% during the 3rd 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 position in shares of Innoviva during the 3rd quarter valued at $715,000. Finally, Victory Capital Management Inc. grew its holdings in Innoviva by 3.5% in the 3rd quarter. Victory Capital Management Inc. now owns 140,454 shares of the biotechnology company’s stock worth $2,712,000 after acquiring an additional 4,699 shares during the last quarter. Institutional investors own 99.12% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. StockNews.com raised shares of Innoviva from a “hold” rating to a “buy” rating in a report on Friday. Scotiabank assumed coverage on shares of Innoviva in a report on Friday. They issued a “sector outperform” rating and a $55.00 price target on the stock.

Innoviva Price Performance

Shares of Innoviva stock opened at $17.48 on Tuesday. The firm has a market cap of $1.10 billion, a PE ratio of 25.33 and a beta of 0.56. Innoviva, Inc. has a 12-month low of $14.33 and a 12-month high of $21.28. The company has a quick ratio of 1.64, a current ratio of 1.79 and a debt-to-equity ratio of 0.38. The company’s fifty day simple moving average is $18.03 and its two-hundred day simple moving average is $18.82.

Innoviva (NASDAQ:INVA) last announced its earnings results on Wednesday, February 26th. The biotechnology company reported $0.57 earnings per share for the quarter. The firm had revenue of $91.81 million for the quarter. Innoviva had a net margin of 18.31% and a return on equity of 20.84%. As a group, equities analysts expect 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 Innoviva stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $17.63, for a total transaction of $2,665,215.25. Following the sale, the insider now owns 7,125,825 shares of the company’s stock, valued at approximately $125,628,294.75. The trade was a 2.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.70% of the company’s stock.

About Innoviva

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.