Brevan Howard Capital Management LP Makes New Investment in Innoviva, Inc. (NASDAQ:INVA)

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

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Barclays PLC lifted its holdings in shares of Innoviva by 254.2% in the third 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 in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Innoviva by 14.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 578,243 shares of the biotechnology company's stock valued at $11,166,000 after acquiring an additional 72,039 shares during the last quarter. Ritholtz Wealth Management boosted its holdings in shares of Innoviva by 3.9% during the fourth quarter. Ritholtz Wealth Management now owns 74,439 shares of the biotechnology company's stock worth $1,292,000 after purchasing an additional 2,782 shares during the period. Exchange Traded Concepts LLC boosted its stake in shares of Innoviva by 4.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 162,005 shares of the biotechnology company's stock valued at $2,811,000 after purchasing an additional 7,220 shares in the last quarter. Finally, KBC Group NV lifted its position in Innoviva by 73.9% during the fourth quarter. KBC Group NV now owns 4,100 shares of the biotechnology company's stock valued at $71,000 after buying an additional 1,743 shares during the period. Institutional investors and hedge funds own 99.12% of the company's stock.

Insider Transactions at Innoviva

In related news, major shareholder Alexander J. Denner sold 151,175 shares of the business's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $17.63, for a total transaction of $2,665,215.25. Following the transaction, the insider now directly owns 7,125,825 shares in the company, valued at $125,628,294.75. The trade was a 2.08% decrease in their position. The sale 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.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on INVA. StockNews.com raised Innoviva from a "hold" rating to a "buy" rating in a research report on Wednesday, April 30th. Scotiabank assumed coverage on shares of Innoviva in a report on Friday, March 7th. They set a "sector outperform" rating and a $55.00 price objective for the company.

Innoviva Trading Up 1.8%

Shares of INVA traded up $0.32 during trading hours on Thursday, reaching $18.33. 635,968 shares of the company traded hands, compared to its average volume of 763,208. The company has a current ratio of 1.79, a quick ratio of 1.64 and a debt-to-equity ratio of 0.38. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 26.57 and a beta of 0.35. The stock's fifty day moving average price is $17.94 and its 200 day moving average price is $18.30. Innoviva, Inc. has a 12-month low of $15.20 and a 12-month high of $21.28.

Innoviva (NASDAQ:INVA - Get Free Report) last announced its earnings results on Wednesday, May 7th. The biotechnology company reported $0.25 earnings per share (EPS) for the quarter. The business 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%. Sell-side analysts forecast that Innoviva, Inc. will post 0.33 earnings per share for the current year.

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.