AlphaCrest Capital Management LLC Acquires 5,700 Shares of Innoviva Inc (NASDAQ:INVA)

AlphaCrest Capital Management LLC increased its position in shares of Innoviva Inc (NASDAQ:INVA) by 13.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,800 shares of the biotechnology company’s stock after acquiring an additional 5,700 shares during the quarter. AlphaCrest Capital Management LLC’s holdings in Innoviva were worth $671,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. LSV Asset Management increased its stake in shares of Innoviva by 2.4% in the first quarter. LSV Asset Management now owns 2,465,871 shares of the biotechnology company’s stock worth $34,596,000 after purchasing an additional 57,894 shares during the period. Dimensional Fund Advisors LP raised its stake in Innoviva by 8.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,332,417 shares of the biotechnology company’s stock valued at $40,700,000 after purchasing an additional 190,568 shares during the period. D. E. Shaw & Co. Inc. raised its stake in Innoviva by 104.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,956,320 shares of the biotechnology company’s stock valued at $34,138,000 after purchasing an additional 1,001,636 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd raised its stake in Innoviva by 38.7% during the 1st quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 1,775,714 shares of the biotechnology company’s stock valued at $24,913,000 after purchasing an additional 495,781 shares during the period. Finally, Norges Bank bought a new stake in Innoviva during the 4th quarter valued at approximately $23,925,000. Institutional investors and hedge funds own 78.20% of the company’s stock.

INVA stock traded down $0.01 on Monday, hitting $14.55. 549,509 shares of the company’s stock were exchanged, compared to its average volume of 1,080,873. Innoviva Inc has a 12-month low of $13.07 and a 12-month high of $20.54. The stock’s 50 day simple moving average is $14.25. The company has a current ratio of 66.01, a quick ratio of 66.02 and a debt-to-equity ratio of 1.93. The firm has a market capitalization of $1.47 billion, a PE ratio of 4.12 and a beta of 1.63.

Innoviva (NASDAQ:INVA) last announced its earnings results on Wednesday, May 1st. The biotechnology company reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.05). Innoviva had a return on equity of 1,674.72% and a net margin of 151.35%. The business had revenue of $55.18 million for the quarter. As a group, sell-side analysts forecast that Innoviva Inc will post 1.62 earnings per share for the current year.

Several research firms have weighed in on INVA. Zacks Investment Research upgraded Innoviva from a “hold” rating to a “strong-buy” rating and set a $16.00 price target for the company in a report on Wednesday, April 17th. BidaskClub raised Innoviva from a “sell” rating to a “hold” rating in a research report on Friday, April 5th. Finally, ValuEngine lowered Innoviva from a “hold” rating to a “sell” rating in a research report on Saturday, March 9th.

Innoviva Company Profile

Innoviva, Inc engages in the development and commercialization of pharmaceuticals. The company has long-acting beta2 agonist (LABA) collaboration agreement with Glaxo Group Limited to develop and commercialize once-daily products for the treatment of chronic obstructive pulmonary disease and asthma. Its products include RELVAR/BREO ELLIPTA, a once-daily combination medicine consisting of a long-acting beta2 agonist (LABA), vilanterol (VI), an inhaled corticosteroid (ICS), and fluticasone furoate (FF); ANORO ELLIPTA, a once-daily medicine combining a long-acting muscarinic antagonist (LAMA), umeclidinium bromide (UMEC), with a LABA, and VI; and TRELEGY ELLIPTA, a once-daily combination medicine consisting of an ICS, LAMA and LABA.

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Institutional Ownership by Quarter for Innoviva (NASDAQ:INVA)

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