AlphaQuest LLC Purchases New Holdings in Innoviva, Inc. (NASDAQ:INVA)

AlphaQuest LLC purchased a new stake in shares of Innoviva, Inc. (NASDAQ:INVA) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 48,878 shares of the biotechnology company’s stock, valued at approximately $848,000.

A number of other large investors also recently bought and sold shares of the business. Inceptionr LLC purchased a new position in Innoviva during the 4th quarter valued at about $287,000. Assetmark Inc. lifted its position in Innoviva by 7.7% during the 4th quarter. Assetmark Inc. now owns 166,879 shares of the biotechnology company’s stock valued at $2,895,000 after acquiring an additional 11,989 shares during the period. Victory Capital Management Inc. lifted its position in Innoviva by 26.3% during the 4th quarter. Victory Capital Management Inc. now owns 177,383 shares of the biotechnology company’s stock valued at $3,078,000 after acquiring an additional 36,929 shares during the period. QRG Capital Management Inc. lifted its position in Innoviva by 4.4% during the 4th quarter. QRG Capital Management Inc. now owns 89,709 shares of the biotechnology company’s stock valued at $1,556,000 after acquiring an additional 3,769 shares during the period. Finally, Illinois Municipal Retirement Fund lifted its position in Innoviva by 2.8% during the 4th quarter. Illinois Municipal Retirement Fund now owns 29,066 shares of the biotechnology company’s stock valued at $504,000 after acquiring an additional 784 shares during the period. 99.12% of the stock is owned by hedge funds and other institutional investors.

Innoviva Stock Down 0.9 %

Shares of Innoviva stock opened at $17.48 on Tuesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.64 and a current ratio of 1.79. The stock has a market capitalization of $1.10 billion, a PE ratio of 25.33 and a beta of 0.56. Innoviva, Inc. has a 52-week low of $14.33 and a 52-week high of $21.28. The company has a 50-day simple moving average of $18.03 and a two-hundred day simple moving average of $18.82.

Innoviva (NASDAQ:INVA) last issued its earnings results 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 business had revenue of $91.81 million during the quarter. On average, analysts anticipate that Innoviva, Inc. will post 0.33 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Alexander J. Denner sold 1,196,746 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $17.52, for a total transaction of $20,966,989.92. Following the completion of the transaction, the insider now directly owns 5,658,705 shares of the company’s stock, valued at $99,140,511.60. The trade was a 17.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on INVA shares. Scotiabank started coverage on shares of Innoviva in a report on Friday. They issued a “sector outperform” rating and a $55.00 target price for the company. StockNews.com raised shares of Innoviva from a “hold” rating to a “buy” rating in a report on Friday.

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.