Trexquant Investment LP Takes $569,000 Position in Innoviva (INVA)

Trexquant Investment LP purchased a new stake in Innoviva (NASDAQ:INVA) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 34,161 shares of the biotechnology company’s stock, valued at approximately $569,000.

Several other hedge funds have also added to or reduced their stakes in INVA. SG Americas Securities LLC acquired a new stake in shares of Innoviva in the first quarter valued at approximately $113,000. Meadow Creek Investment Management LLC grew its position in shares of Innoviva by 30.0% in the fourth quarter. Meadow Creek Investment Management LLC now owns 14,084 shares of the biotechnology company’s stock valued at $200,000 after purchasing an additional 3,248 shares during the last quarter. Xact Kapitalforvaltning AB acquired a new stake in shares of Innoviva in the fourth quarter valued at approximately $201,000. Caxton Associates LP acquired a new stake in shares of Innoviva in the fourth quarter valued at approximately $256,000. Finally, Aperio Group LLC grew its position in shares of Innoviva by 24.0% in the fourth quarter. Aperio Group LLC now owns 24,852 shares of the biotechnology company’s stock valued at $353,000 after purchasing an additional 4,808 shares during the last quarter. Institutional investors and hedge funds own 76.00% of the company’s stock.

A number of analysts recently issued reports on INVA shares. BidaskClub upgraded shares of Innoviva from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 24th. Zacks Investment Research lowered shares of Innoviva from a “hold” rating to a “sell” rating in a research report on Tuesday, February 20th. TheStreet upgraded shares of Innoviva from a “c+” rating to a “b” rating in a research report on Friday, February 9th. Berenberg Bank started coverage on shares of Innoviva in a research report on Thursday, April 19th. They set a “buy” rating on the stock. Finally, ValuEngine upgraded shares of Innoviva from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $13.67.

In other Innoviva news, VP George B. Abercrombie sold 8,000 shares of Innoviva stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $16.51, for a total value of $132,080.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Eric Desparbes sold 5,378 shares of Innoviva stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $16.52, for a total transaction of $88,844.56. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

Shares of Innoviva opened at $14.59 on Friday, according to MarketBeat.com. Innoviva has a 1 year low of $11.47 and a 1 year high of $17.99. The company has a market cap of $1.49 billion, a P/E ratio of 10.89 and a beta of 2.12. The company has a current ratio of 27.89, a quick ratio of 27.89 and a debt-to-equity ratio of -2.28.

Innoviva (NASDAQ:INVA) last announced its earnings results on Thursday, April 26th. The biotechnology company reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.23). The firm had revenue of $52.40 million for the quarter, compared to analyst estimates of $71.84 million. Innoviva had a negative return on equity of 63.57% and a net margin of 64.11%. The firm’s revenue was up 29.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.19 EPS. sell-side analysts anticipate that Innoviva will post 2.09 earnings per share for the current year.

Innoviva Profile

Innoviva, Inc engages in the development and commercialization of bio-pharmaceuticals. Its portfolio of respiratory products include RELVAR/BREO ELLIPTA, (fluticasone furoate/ vilanterol, FF/VI); ANORO ELLIPTA (umeclidinium bromide/ vilanterol, UMEC/VI); and TRELEGY ELLIPTA (the combination FF/UMEC/VI).

Institutional Ownership by Quarter for Innoviva (NASDAQ:INVA)

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