Jane Street Group LLC Purchases 194,270 Shares of Innoviva, Inc. (NASDAQ:INVA)

Jane Street Group LLC raised its stake in Innoviva, Inc. (NASDAQ:INVA - Free Report) by 142.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 330,631 shares of the biotechnology company's stock after acquiring an additional 194,270 shares during the period. Jane Street Group LLC owned 0.53% of Innoviva worth $5,736,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in INVA. Vanguard Group Inc. increased its position in shares of Innoviva by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 6,312,631 shares of the biotechnology company's stock worth $109,524,000 after acquiring an additional 84,934 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings 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 valued at $85,354,000 after buying an additional 226,592 shares during the period. Pacer Advisors Inc. lifted 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 worth $50,872,000 after acquiring an additional 121,162 shares during the last quarter. American Century Companies Inc. boosted its stake in Innoviva by 35.2% in the fourth 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 during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Innoviva by 7.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,146,243 shares of the biotechnology company's stock valued at $19,887,000 after purchasing an additional 81,142 shares during the last quarter. Hedge funds and other institutional investors own 99.12% of the company's stock.

Insider Buying and Selling

In other news, major shareholder Alexander J. Denner sold 1,196,746 shares of the firm's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $17.52, for a total transaction of $20,966,989.92. Following the completion of the sale, the insider now directly owns 5,658,705 shares of the company's stock, valued at $99,140,511.60. This trade represents a 17.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.25% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on INVA. StockNews.com upgraded shares of Innoviva from a "hold" rating to a "buy" rating in a research report on Wednesday, April 30th. Scotiabank began coverage on Innoviva in a report on Friday, March 7th. They set a "sector outperform" rating and a $55.00 price target on the stock.

Innoviva Price Performance

Shares of NASDAQ:INVA traded down $0.35 during trading on Tuesday, reaching $18.26. The company had a trading volume of 682,498 shares, compared to its average volume of 634,210. The firm's fifty day moving average is $17.93 and its 200 day moving average is $18.30. 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 firm has a market capitalization of $1.14 billion, a PE ratio of 26.46 and a beta of 0.35. Innoviva, Inc. has a twelve month low of $15.20 and a twelve month high of $21.28.

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

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.