Innoviva, Inc. (NASDAQ:INVA) Shares Sold by Two Sigma Advisers LP

Two Sigma Advisers LP decreased its holdings in shares of Innoviva, Inc. (NASDAQ:INVA - Free Report) by 45.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 204,500 shares of the biotechnology company's stock after selling 173,800 shares during the period. Two Sigma Advisers LP owned 0.33% of Innoviva worth $3,548,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in INVA. KBC Group NV increased its position in Innoviva by 73.9% during the 4th quarter. KBC Group NV now owns 4,100 shares of the biotechnology company's stock valued at $71,000 after purchasing an additional 1,743 shares during the period. Tower Research Capital LLC TRC increased its position in Innoviva by 75.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,962 shares of the biotechnology company's stock valued at $86,000 after purchasing an additional 2,128 shares during the period. New Age Alpha Advisors LLC purchased a new position in Innoviva during the 4th quarter valued at about $176,000. Cubist Systematic Strategies LLC purchased a new position in Innoviva during the 4th quarter valued at about $184,000. Finally, Bridgefront Capital LLC bought a new stake in shares of Innoviva in the 4th quarter valued at about $229,000. Hedge funds and other institutional investors own 99.12% of the company's stock.

Innoviva Stock Up 0.8%

Shares of NASDAQ:INVA traded up $0.15 during trading on Friday, reaching $19.64. The stock had a trading volume of 872,004 shares, compared to its average volume of 645,539. Innoviva, Inc. has a one year low of $15.56 and a one year high of $21.28. The company has a market capitalization of $1.23 billion, a P/E ratio of 28.46 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 simple moving average is $18.32 and its 200 day simple moving average is $18.21.

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

Insider Buying and Selling

In related news, major shareholder Alexander J. Denner sold 1,196,746 shares of Innoviva stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $17.52, for a total value of $20,966,989.92. Following the completion of the sale, the insider now directly owns 5,658,705 shares in the company, valued at $99,140,511.60. This trade represents a 17.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.25% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on INVA. Scotiabank began coverage on shares of Innoviva in a report on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 price target on the stock. Wall Street Zen upgraded shares of Innoviva from a "hold" rating to a "buy" rating in a report on Wednesday, April 30th.

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.