Occudo Quantitative Strategies LP Invests $382,000 in Innoviva, Inc. (NASDAQ:INVA)

Occudo Quantitative Strategies LP purchased a new stake in shares of Innoviva, Inc. (NASDAQ:INVA - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 21,999 shares of the biotechnology company's stock, valued at approximately $382,000.

A number of other institutional investors have also recently made changes to their positions in the company. Millennium Management LLC lifted its position in shares of Innoviva by 426.4% during the 4th quarter. Millennium Management LLC now owns 400,613 shares of the biotechnology company's stock valued at $6,951,000 after buying an additional 324,515 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Innoviva by 3.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,490 shares of the biotechnology company's stock valued at $546,000 after buying an additional 1,162 shares in the last quarter. Jefferies Financial Group Inc. lifted its stake in shares of Innoviva by 355.8% during the 4th quarter. Jefferies Financial Group Inc. now owns 296,238 shares of the biotechnology company's stock valued at $5,140,000 after buying an additional 231,238 shares in the last quarter. Gotham Asset Management LLC lifted its stake in shares of Innoviva by 37.2% during the 4th quarter. Gotham Asset Management LLC now owns 43,899 shares of the biotechnology company's stock valued at $762,000 after buying an additional 11,912 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its stake in shares of Innoviva by 28.1% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 842,647 shares of the biotechnology company's stock valued at $14,620,000 after buying an additional 184,595 shares in the last quarter. Hedge funds and other institutional investors own 99.12% of the company's stock.

Insiders Place Their Bets

In other Innoviva news, major shareholder Alexander J. Denner sold 1,196,746 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $17.52, for a total value of $20,966,989.92. Following the sale, the insider now owns 5,658,705 shares of the company's stock, valued at $99,140,511.60. This trade represents a 17.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 2.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. StockNews.com upgraded shares of Innoviva from a "hold" rating to a "buy" rating in a research note on Wednesday, April 30th. Scotiabank assumed coverage on shares of Innoviva in a research note on Friday, March 7th. They set a "sector outperform" rating and a $55.00 price target on the stock.

Innoviva Stock Performance

Shares of INVA stock traded up $0.21 during trading on Tuesday, reaching $18.84. 337,230 shares of the company's stock traded hands, compared to its average volume of 755,067. The company has a market capitalization of $1.18 billion, a P/E ratio of 27.17 and a beta of 0.35. 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's 50-day moving average is $18.00 and its 200 day moving average is $18.25. Innoviva, Inc. has a 1 year low of $15.20 and a 1 year high of $21.28.

Innoviva (NASDAQ:INVA - Get Free Report) last posted its earnings results on Wednesday, May 7th. The biotechnology company reported $0.25 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 $88.63 million for the quarter. Equities research analysts expect that Innoviva, Inc. will post 0.33 EPS 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.