XTX Topco Ltd Buys Shares of 65,117 Innoviva, Inc. (NASDAQ:INVA)

Key Points

• XTX Topco Ltd acquired 65,117 shares of Innoviva, Inc. (NASDAQ:INVA), valued at approximately $1,181,000, representing 0.10% of the company's total shares.
• Institutional investors hold 99.12% of Innoviva's stock, with notable increases in holdings from firms such as D. E. Shaw & Co. Inc. and Vanguard Group Inc..
• Analysts have set price targets for Innoviva ranging from $26.00 to $40.00, indicating a bullish outlook for the company's stock performance.

XTX Topco Ltd bought a new stake in Innoviva, Inc. (NASDAQ:INVA - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 65,117 shares of the biotechnology company's stock, valued at approximately $1,181,000. XTX Topco Ltd owned approximately 0.10% of Innoviva at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Tower Research Capital LLC TRC grew its position in Innoviva by 75.1% in the 4th 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 in the last quarter. Farther Finance Advisors LLC raised its position in Innoviva by 10.3% in the 1st quarter. Farther Finance Advisors LLC now owns 8,516 shares of the biotechnology company's stock valued at $153,000 after purchasing an additional 795 shares in the last quarter. Bailard Inc. acquired a new position in shares of Innoviva during the 1st quarter worth about $189,000. Cubist Systematic Strategies LLC acquired a new position in shares of Innoviva during the 4th quarter worth about $184,000. Finally, Bridgefront Capital LLC acquired a new position in shares of Innoviva during the 4th quarter worth about $229,000. 99.12% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Wall Street Zen upgraded Innoviva from a "hold" rating to a "buy" rating in a research report on Wednesday, April 30th. Cantor Fitzgerald started coverage on Innoviva in a research note on Friday, July 11th. They issued an "overweight" rating and a $26.00 price objective for the company. Finally, HC Wainwright started coverage on shares of Innoviva in a research note on Monday, July 14th. They set a "buy" rating and a $40.00 target price for the company.

Innoviva Stock Performance

Shares of INVA traded down $0.16 during mid-day trading on Wednesday, hitting $18.29. 343,225 shares of the company's stock were exchanged, compared to its average volume of 815,492. Innoviva, Inc. has a fifty-two week low of $16.67 and a fifty-two week high of $22.00. The firm has a market capitalization of $1.15 billion, a P/E ratio of -18.07 and a beta of 0.38. The business's 50 day moving average is $19.93 and its two-hundred day moving average is $18.75. The company has a current ratio of 2.48, a quick ratio of 2.30 and a debt-to-equity ratio of 0.40.

Innoviva (NASDAQ:INVA - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The biotechnology company reported $0.25 earnings per share (EPS) for the quarter. The firm had revenue of $88.63 million during the quarter. Innoviva had a negative net margin of 16.15% and a positive return on equity of 15.77%. On average, equities analysts expect that Innoviva, Inc. will post 0.33 earnings per share for the current year.

Innoviva Company 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.