GSA Capital Partners LLP reduced its stake in Innoviva Inc (NASDAQ:INVA) by 21.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 98,075 shares of the biotechnology company’s stock after selling 26,800 shares during the period. GSA Capital Partners LLP owned approximately 0.10% of Innoviva worth $1,495,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. OppenheimerFunds Inc. acquired a new stake in Innoviva in the 2nd quarter valued at $142,000. Jane Street Group LLC acquired a new stake in Innoviva in the 2nd quarter valued at $147,000. First Quadrant L P CA increased its holdings in 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 in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in Innoviva in the 2nd quarter valued at $167,000. Finally, Stevens Capital Management LP acquired a new stake in Innoviva in the 2nd quarter valued at $183,000. Hedge funds and other institutional investors own 73.21% of the company’s stock.
Shares of Innoviva stock opened at $17.86 on Friday. The stock has a market cap of $1.78 billion, a PE ratio of 15.26 and a beta of 2.27. Innoviva Inc has a 1-year low of $12.62 and a 1-year high of $18.60.
Innoviva (NASDAQ:INVA) last announced its earnings results on Wednesday, October 31st. The biotechnology company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.06). The business had revenue of $61.70 million for the quarter, compared to analyst estimates of $64.00 million. Innoviva had a net margin of 75.67% and a negative return on equity of 110.01%. The firm’s revenue was up 27.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.21 earnings per share. Sell-side analysts predict that Innoviva Inc will post 1.91 EPS for the current fiscal year.
Several analysts recently issued reports on the company. BidaskClub upgraded Innoviva from a “sell” rating to a “hold” rating in a report on Thursday, September 6th. Zacks Investment Research upgraded Innoviva from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a report on Wednesday, November 7th. Finally, ValuEngine upgraded Innoviva from a “sell” rating to a “hold” rating in a report on Wednesday, October 17th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $17.00.
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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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