34,796 Shares in Innoviva, Inc. (NASDAQ:INVA) Purchased by GSA Capital Partners LLP

Key Points

• GSA Capital Partners LLP acquired 34,796 shares of Innoviva, Inc. in the first quarter, worth approximately $631,000, boosting its stake to about 0.06% of the company.
• Multiple institutional investors, including Millennium Management LLC and Farther Finance Advisors LLC, significantly increased their stakes in Innoviva during recent quarters, showing strong institutional interest in the company.
• Wall Street evaluations improved for Innoviva, with analyst ratings upgraded to "buy" from several firms, including HC Wainwright, which set a target price of $40.00.

GSA Capital Partners LLP acquired a new stake in shares of Innoviva, Inc. (NASDAQ:INVA - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 34,796 shares of the biotechnology company's stock, valued at approximately $631,000. GSA Capital Partners LLP owned approximately 0.06% of Innoviva as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Millennium Management LLC lifted its stake in shares of Innoviva by 426.4% in the fourth 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 period. Hsbc Holdings PLC bought a new position in Innoviva during the fourth quarter worth about $5,437,000. Victory Capital Management Inc. lifted its stake in Innoviva by 132.4% during the first quarter. Victory Capital Management Inc. now owns 412,281 shares of the biotechnology company's stock worth $7,475,000 after purchasing an additional 234,898 shares during the period. Jefferies Financial Group Inc. raised its stake in shares of Innoviva by 355.8% in the fourth quarter. Jefferies Financial Group Inc. now owns 296,238 shares of the biotechnology company's stock valued at $5,140,000 after acquiring an additional 231,238 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Innoviva by 4.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,919,518 shares of the biotechnology company's stock valued at $85,354,000 after acquiring an additional 226,592 shares during the last quarter. 99.12% of the stock is owned by institutional investors.

Innoviva Trading Up 1.1%

Shares of Innoviva stock traded up $0.20 during trading on Thursday, reaching $18.45. The company's stock had a trading volume of 836,456 shares, compared to its average volume of 817,398. Innoviva, Inc. has a 52-week low of $16.67 and a 52-week high of $22.00. The company has a market cap of $1.16 billion, a price-to-earnings ratio of -18.33 and a beta of 0.38. The firm's 50-day moving average is $19.91 and its two-hundred day moving average is $18.75. The company has a quick ratio of 2.30, a current ratio of 2.48 and a debt-to-equity ratio of 0.40.

Innoviva (NASDAQ:INVA - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The biotechnology company reported $0.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.20. The company had revenue of $100.28 million during the quarter, compared to analysts' expectations of $87.10 million. Innoviva had a negative net margin of 16.15% and a positive return on equity of 15.77%. On average, sell-side analysts anticipate that Innoviva, Inc. will post 0.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on INVA shares. Wall Street Zen raised shares of Innoviva from a "hold" rating to a "buy" rating in a research report on Wednesday, April 30th. Cantor Fitzgerald started coverage on shares of 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 initiated coverage on shares of Innoviva in a research note on Monday, July 14th. They issued a "buy" rating and a $40.00 price objective for the company.

About Innoviva

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.