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

Two Sigma Investments LP lowered its position in shares of Innoviva, Inc. (NASDAQ:INVA - Free Report) by 45.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 262,739 shares of the biotechnology company's stock after selling 221,073 shares during the quarter. Two Sigma Investments LP owned about 0.42% of Innoviva worth $4,559,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. American Century Companies Inc. raised its position in shares of Innoviva by 35.2% during the 4th quarter. American Century Companies Inc. now owns 1,424,315 shares of the biotechnology company's stock valued at $24,712,000 after acquiring an additional 370,795 shares in the last quarter. Millennium Management LLC increased its stake in Innoviva by 426.4% during the fourth quarter. Millennium Management LLC now owns 400,613 shares of the biotechnology company's stock valued at $6,951,000 after purchasing an additional 324,515 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in shares of Innoviva during the fourth quarter worth $5,437,000. Jefferies Financial Group Inc. raised its holdings in shares of Innoviva by 355.8% during the fourth quarter. Jefferies Financial Group Inc. now owns 296,238 shares of the biotechnology company's stock worth $5,140,000 after purchasing an additional 231,238 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Innoviva by 4.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,919,518 shares of the biotechnology company's stock worth $85,354,000 after buying an additional 226,592 shares during the last quarter. Institutional investors own 99.12% of the company's stock.

Innoviva Stock Performance

Shares of INVA stock traded up $0.15 during trading hours on Friday, reaching $19.64. The stock had a trading volume of 872,004 shares, compared to its average volume of 645,539. The firm has a market capitalization of $1.23 billion, a PE ratio of 28.46 and a beta of 0.35. The firm has a 50-day simple moving average of $18.32 and a 200-day simple moving average of $18.21. Innoviva, Inc. has a twelve month low of $15.56 and a twelve month high of $21.28. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.79 and a quick ratio of 1.64.

Innoviva (NASDAQ:INVA - Get Free Report) last posted its 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 net margin of 18.31% and a return on equity of 20.84%. As a group, equities analysts forecast that Innoviva, Inc. will post 0.33 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on INVA shares. Wall Street Zen upgraded Innoviva from a "hold" rating to a "buy" rating in a research note on Wednesday, April 30th. Scotiabank assumed 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.

Insider Buying and Selling

In other Innoviva news, major shareholder Alexander J. Denner sold 1,196,746 shares of the firm's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $17.52, for a total transaction of $20,966,989.92. Following the transaction, the insider now owns 5,658,705 shares of the company's stock, valued at approximately $99,140,511.60. This trade represents a 17.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.25% of the company's 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.