D. E. Shaw & Co. Inc. Has $14.62 Million Stake in Innoviva, Inc. (NASDAQ:INVA)

D. E. Shaw & Co. Inc. lifted its holdings in Innoviva, Inc. (NASDAQ:INVA - Free Report) by 28.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 842,647 shares of the biotechnology company's stock after purchasing an additional 184,595 shares during the period. D. E. Shaw & Co. Inc. owned 1.35% of Innoviva worth $14,620,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Barclays PLC boosted its stake in Innoviva by 254.2% during the third quarter. Barclays PLC now owns 100,594 shares of the biotechnology company's stock worth $1,942,000 after buying an additional 72,192 shares in the last quarter. Ritholtz Wealth Management increased its stake in shares of Innoviva by 3.9% in the fourth quarter. Ritholtz Wealth Management now owns 74,439 shares of the biotechnology company's stock valued at $1,292,000 after buying an additional 2,782 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in shares of Innoviva by 4.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 162,005 shares of the biotechnology company's stock worth $2,811,000 after acquiring an additional 7,220 shares during the last quarter. KBC Group NV lifted its holdings in 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 buying an additional 1,743 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in Innoviva by 4.3% in the fourth quarter. Pacer Advisors Inc. now owns 2,932,113 shares of the biotechnology company's stock valued at $50,872,000 after acquiring an additional 121,162 shares during the last quarter. 99.12% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Scotiabank assumed coverage on Innoviva in a research note on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 price target on the stock. StockNews.com raised shares of Innoviva from a "hold" rating to a "buy" rating in a research report on Wednesday, April 30th.

Innoviva Stock Down 0.2%

INVA traded down $0.04 during trading on Monday, reaching $18.54. 35,973 shares of the stock were exchanged, compared to its average volume of 630,643. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.64 and a current ratio of 1.79. The stock's 50 day moving average price is $17.97 and its two-hundred day moving average price is $18.26. Innoviva, Inc. has a twelve month low of $15.20 and a twelve month high of $21.28. The stock has a market cap of $1.16 billion, a P/E ratio of 26.87 and a beta of 0.35.

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

Insider Activity

In other Innoviva news, major shareholder Alexander J. Denner sold 1,196,746 shares of Innoviva stock in a transaction 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 $99,140,511.60. The trade was a 17.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.25% of the company's stock.

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.