16,198 Shares in Innoviva, Inc. (NASDAQ:INVA) Bought by Brevan Howard Capital Management LP

Brevan Howard Capital Management LP purchased a new position in Innoviva, Inc. (NASDAQ:INVA - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 16,198 shares of the biotechnology company's stock, valued at approximately $281,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. KBC Group NV grew its stake in shares of Innoviva by 73.9% in the 4th quarter. KBC Group NV now owns 4,100 shares of the biotechnology company's stock worth $71,000 after buying an additional 1,743 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Innoviva by 75.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,962 shares of the biotechnology company's stock worth $86,000 after buying an additional 2,128 shares during the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of Innoviva in the 4th quarter worth approximately $176,000. Bridgefront Capital LLC purchased a new stake in shares of Innoviva in the 4th quarter worth approximately $229,000. Finally, China Universal Asset Management Co. Ltd. grew its stake in shares of Innoviva by 10.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 13,274 shares of the biotechnology company's stock worth $230,000 after buying an additional 1,241 shares during the last quarter. Hedge funds and other institutional investors own 99.12% of the company's stock.

Analyst Upgrades and Downgrades

INVA has been the topic of several recent analyst reports. Scotiabank initiated coverage on Innoviva in a research note on Friday, March 7th. They set a "sector outperform" rating and a $55.00 target price on the stock. StockNews.com upgraded Innoviva from a "hold" rating to a "buy" rating in a research note on Wednesday, April 30th.

Innoviva Stock Up 1.4%

INVA traded up $0.25 during trading on Friday, hitting $18.58. 818,822 shares of the company's stock traded hands, compared to its average volume of 633,018. The company's 50 day simple moving average is $17.97 and its two-hundred day simple moving average is $18.27. 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, Inc. has a 12-month low of $15.20 and a 12-month high of $21.28. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 26.93 and a beta of 0.35.

Innoviva (NASDAQ:INVA - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The biotechnology company reported $0.25 earnings per share for the quarter. The firm had revenue of $88.63 million for the quarter. Innoviva had a return on equity of 20.84% and a net margin of 18.31%. Analysts predict that Innoviva, Inc. will post 0.33 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Alexander J. Denner sold 1,196,746 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $17.52, for a total transaction of $20,966,989.92. Following the transaction, the insider now directly owns 5,658,705 shares of the company's stock, valued at $99,140,511.60. This represents a 17.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.25% 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.