Innoviva, Inc. (NASDAQ:INVA) Shares Sold by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP decreased its position in Innoviva, Inc. (NASDAQ:INVA) by 59.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 138,689 shares of the biotechnology company’s stock after selling 204,870 shares during the quarter. ExodusPoint Capital Management LP owned 0.22% of Innoviva worth $2,406,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. KBC Group NV raised its holdings in shares of Innoviva by 73.9% in the 4th quarter. KBC Group NV now owns 4,100 shares of the biotechnology company’s stock valued at $71,000 after purchasing an additional 1,743 shares in the last quarter. New Age Alpha Advisors LLC purchased a new position in Innoviva in the fourth quarter valued at $176,000. FMR LLC raised its stake in Innoviva by 8.2% in the third quarter. FMR LLC now owns 10,119 shares of the biotechnology company’s stock valued at $195,000 after buying an additional 771 shares in the last quarter. Walleye Capital LLC purchased a new stake in Innoviva during the 3rd quarter worth about $214,000. Finally, World Investment Advisors LLC acquired a new position in shares of Innoviva during the 3rd quarter worth about $217,000. Hedge funds and other institutional investors own 99.12% of the company’s stock.

Insider Transactions at Innoviva

In related news, major shareholder Alexander J. Denner sold 1,196,746 shares of the firm’s stock in a transaction dated 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 transaction, the insider now 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.70% of the company’s stock.

Innoviva Stock Performance

Shares of INVA stock opened at $17.51 on Tuesday. The stock’s 50-day moving average is $17.90 and its two-hundred day moving average is $18.56. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.64 and a current ratio of 1.79. Innoviva, Inc. has a 1 year low of $14.33 and a 1 year high of $21.28. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 25.38 and a beta of 0.48.

Innoviva (NASDAQ:INVA) last released its quarterly earnings results on Wednesday, February 26th. The biotechnology company reported $0.57 earnings per share (EPS) for the quarter. Innoviva had a return on equity of 20.84% and a net margin of 18.31%. The firm had revenue of $91.81 million for the quarter. Analysts predict that Innoviva, Inc. will post 0.33 earnings per share for the current year.

Analysts Set New Price Targets

INVA has been the topic of several research analyst reports. StockNews.com lowered Innoviva from a “buy” rating to a “hold” rating in a research report on Tuesday, April 1st. Scotiabank began coverage on shares of Innoviva in a research report on Friday, March 7th. They set a “sector outperform” rating and a $55.00 price objective for the company.

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.