Schonfeld Strategic Advisors LLC Has $1.82 Million Holdings in Innoviva, Inc. (NASDAQ:INVA)

Schonfeld Strategic Advisors LLC increased its stake in shares of Innoviva, Inc. (NASDAQ:INVA - Free Report) by 16.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 104,600 shares of the biotechnology company's stock after acquiring an additional 14,957 shares during the quarter. Schonfeld Strategic Advisors LLC owned about 0.17% of Innoviva worth $1,815,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of INVA. Northern Trust Corp boosted its stake in Innoviva by 4.0% during the fourth quarter. Northern Trust Corp now owns 679,044 shares of the biotechnology company's stock worth $11,781,000 after buying an additional 26,429 shares in the last quarter. Aquatic Capital Management LLC boosted its stake in Innoviva by 13.6% during the fourth quarter. Aquatic Capital Management LLC now owns 37,041 shares of the biotechnology company's stock worth $643,000 after buying an additional 4,441 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in Innoviva during the fourth quarter worth $279,000. Price T Rowe Associates Inc. MD boosted its stake in Innoviva by 12.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 62,633 shares of the biotechnology company's stock worth $1,087,000 after buying an additional 6,927 shares in the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in Innoviva during the fourth quarter worth $5,437,000. Institutional investors own 99.12% of the company's stock.

Wall Street Analyst Weigh In

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

Innoviva Price Performance

Shares of INVA traded down $0.02 during trading hours on Friday, hitting $18.56. The stock had a trading volume of 445,747 shares, compared to its average volume of 635,047. The company's fifty day moving average is $17.90 and its two-hundred day moving average is $18.31. 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, Inc. has a 52 week low of $15.20 and a 52 week high of $21.28. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 26.90 and a beta of 0.35.

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

Insider Buying and Selling

In related news, major shareholder Alexander J. Denner sold 151,175 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $17.63, for a total transaction of $2,665,215.25. Following the transaction, the insider now owns 7,125,825 shares in the company, valued at $125,628,294.75. This represents a 2.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.25% of the stock is owned by corporate insiders.

Innoviva Company 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.