Innoviva Sees Unusually High Options Volume (INVA)

Innoviva Inc (NASDAQ:INVA) saw unusually large options trading on Thursday. Investors acquired 3,052 put options on the company. This represents an increase of approximately 1,532% compared to the typical daily volume of 187 put options.

A number of research firms have commented on INVA. BidaskClub upgraded Innoviva from a “hold” rating to a “buy” rating in a research note on Saturday, September 29th. ValuEngine upgraded Innoviva from a “sell” rating to a “hold” rating in a research note on Wednesday, October 17th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Innoviva currently has an average rating of “Hold” and an average target price of $15.00.

Innoviva stock opened at $15.88 on Friday. Innoviva has a one year low of $12.12 and a one year high of $17.99. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of 13.57 and a beta of 2.21.

Innoviva (NASDAQ:INVA) last posted its quarterly earnings data on Wednesday, October 31st. The biotechnology company reported $0.43 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.06). Innoviva had a negative return on equity of 83.69% and a net margin of 70.01%. The company had revenue of $61.70 million for the quarter, compared to the consensus estimate of $64.00 million. During the same quarter last year, the business earned $0.21 EPS. Innoviva’s revenue was up 27.0% on a year-over-year basis. On average, equities analysts forecast that Innoviva will post 1.83 earnings per share for the current year.

In other news, VP Theodore J. Jr. Witek sold 8,504 shares of the stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $14.12, for a total transaction of $120,076.48. Following the transaction, the vice president now owns 256,271 shares in the company, valued at $3,618,546.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.60% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of the business. WINTON GROUP Ltd bought a new position in shares of Innoviva in the 3rd quarter valued at $8,605,000. Smith Asset Management Group LP increased its stake in shares of Innoviva by 4.5% in the 3rd quarter. Smith Asset Management Group LP now owns 206,320 shares of the biotechnology company’s stock valued at $3,144,000 after purchasing an additional 8,950 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of Innoviva by 69.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 214,744 shares of the biotechnology company’s stock valued at $3,271,000 after purchasing an additional 88,183 shares during the last quarter. Xact Kapitalforvaltning AB increased its stake in shares of Innoviva by 70.6% in the 3rd quarter. Xact Kapitalforvaltning AB now owns 25,376 shares of the biotechnology company’s stock valued at $387,000 after purchasing an additional 10,500 shares during the last quarter. Finally, First Quadrant L P CA increased its stake in shares of Innoviva by 506.7% in the 3rd quarter. First Quadrant L P CA now owns 11,012 shares of the biotechnology company’s stock valued at $168,000 after purchasing an additional 9,197 shares during the last quarter. Hedge funds and other institutional investors own 72.66% of the company’s stock.

Innoviva Company 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).

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