Balyasny Asset Management L.P. Invests $277,000 in Innoviva, Inc. (NASDAQ:INVA)

Balyasny Asset Management L.P. purchased a new position in shares of Innoviva, Inc. (NASDAQ:INVA - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 15,968 shares of the biotechnology company's stock, valued at approximately $277,000.

Other large investors also recently made changes to their positions in the company. Barclays PLC lifted its position in shares of Innoviva by 254.2% during the 3rd quarter. Barclays PLC now owns 100,594 shares of the biotechnology company's stock worth $1,942,000 after purchasing an additional 72,192 shares during the last quarter. Ritholtz Wealth Management lifted its position in shares of Innoviva by 3.9% during the 4th 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 last quarter. Exchange Traded Concepts LLC lifted its position 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 worth $2,811,000 after purchasing an additional 7,220 shares during the last quarter. KBC Group NV lifted its position in shares of Innoviva by 73.9% during the 4th quarter. KBC Group NV now owns 4,100 shares of the biotechnology company's stock worth $71,000 after purchasing an additional 1,743 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its position in shares of Innoviva by 4.3% during the 4th quarter. Pacer Advisors Inc. now owns 2,932,113 shares of the biotechnology company's stock worth $50,872,000 after purchasing an additional 121,162 shares during the last quarter. Institutional investors own 99.12% of the company's stock.

Insider Buying and Selling at Innoviva

In other news, major shareholder Alexander J. Denner sold 1,196,746 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 5,658,705 shares of the company's stock, valued at approximately $99,140,511.60. This represents a 17.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.25% of the company's stock.

Innoviva Stock Performance

Innoviva stock traded up $0.15 during trading hours on Friday, hitting $18.97. The stock had a trading volume of 808,174 shares, compared to its average volume of 636,205. The company has a 50-day moving average of $18.12 and a two-hundred day moving average of $18.26. The company has a quick ratio of 1.64, a current ratio of 1.79 and a debt-to-equity ratio of 0.38. The company has a market cap of $1.19 billion, a PE ratio of 27.49 and a beta of 0.35. Innoviva, Inc. has a fifty-two week low of $15.20 and a fifty-two week high of $21.28.

Innoviva (NASDAQ:INVA - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The biotechnology company reported $0.25 EPS for the quarter. The firm had revenue of $88.63 million during the quarter. Innoviva had a return on equity of 20.84% and a net margin of 18.31%. On average, equities research analysts anticipate that Innoviva, Inc. will post 0.33 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Scotiabank initiated coverage on Innoviva in a research report on Friday, March 7th. They set a "sector outperform" rating and a $55.00 price objective for the company. Wall Street Zen raised Innoviva from a "hold" rating to a "buy" rating in a report on Wednesday, April 30th.

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.