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

Occudo Quantitative Strategies LP purchased a new stake in Innoviva, Inc. (NASDAQ:INVA - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 21,999 shares of the biotechnology company's stock, valued at approximately $382,000.

Other hedge funds have also bought and sold shares of the company. KBC Group NV grew its stake in Innoviva by 73.9% during the fourth 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 in the last quarter. Tower Research Capital LLC TRC increased its stake in Innoviva by 75.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,962 shares of the biotechnology company's stock valued at $86,000 after acquiring an additional 2,128 shares during the last quarter. New Age Alpha Advisors LLC bought a new position in Innoviva in the fourth quarter valued at approximately $176,000. Cubist Systematic Strategies LLC acquired a new position in Innoviva during the fourth quarter valued at approximately $184,000. Finally, Bridgefront Capital LLC bought a new stake in Innoviva during the fourth quarter worth $229,000. 99.12% of the stock is owned by institutional investors.

Insider Buying and Selling at Innoviva

In other news, major shareholder Alexander J. Denner sold 151,175 shares of the business's stock in a transaction dated 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 sale, the insider now directly owns 7,125,825 shares in the company, valued at approximately $125,628,294.75. The trade was a 2.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.25% of the company's stock.

Innoviva Price Performance

INVA stock traded up $0.24 during trading on Wednesday, reaching $19.02. 179,082 shares of the company were exchanged, compared to its average volume of 631,008. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 27.57 and a beta of 0.35. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.79 and a quick ratio of 1.64. The company has a 50-day moving average of $18.03 and a two-hundred day moving average of $18.26. Innoviva, Inc. has a twelve month low of $15.20 and a twelve month high of $21.28.

Innoviva (NASDAQ:INVA - Get Free Report) last announced its quarterly 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 company had revenue of $88.63 million during the quarter. As a group, equities analysts predict that Innoviva, Inc. will post 0.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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