Cubist Systematic Strategies LLC Makes New $184,000 Investment in Innoviva, Inc. (NASDAQ:INVA)

Cubist Systematic Strategies LLC purchased a new position in shares of Innoviva, Inc. (NASDAQ:INVA) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 10,612 shares of the biotechnology company’s stock, valued at approximately $184,000.

Several other hedge funds have also recently added to or reduced their stakes in INVA. Barclays PLC increased its stake in shares of Innoviva by 254.2% in the 3rd quarter. Barclays PLC now owns 100,594 shares of the biotechnology company’s stock valued at $1,942,000 after acquiring an additional 72,192 shares in the last quarter. Ritholtz Wealth Management increased its stake in shares of Innoviva by 3.9% in the 4th quarter. Ritholtz Wealth Management now owns 74,439 shares of the biotechnology company’s stock valued at $1,292,000 after acquiring an additional 2,782 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in shares of Innoviva by 4.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 162,005 shares of the biotechnology company’s stock valued at $2,811,000 after acquiring an additional 7,220 shares in the last quarter. KBC Group NV increased its stake 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 acquiring an additional 1,743 shares in the last quarter. Finally, Pacer Advisors Inc. increased its stake in shares of Innoviva by 4.3% in the 4th quarter. Pacer Advisors Inc. now owns 2,932,113 shares of the biotechnology company’s stock valued at $50,872,000 after acquiring an additional 121,162 shares in the last quarter. Institutional investors own 99.12% of the company’s stock.

Innoviva Stock Performance

NASDAQ INVA opened at $18.58 on Monday. The company has a fifty day simple moving average of $17.97 and a 200 day simple moving average of $18.26. Innoviva, Inc. has a 12-month low of $15.20 and a 12-month high of $21.28. The company has a current ratio of 1.79, a quick ratio of 1.64 and a debt-to-equity ratio of 0.38. The company has a market cap of $1.16 billion, a P/E ratio of 26.93 and a beta of 0.35.

Innoviva (NASDAQ:INVA) last posted its quarterly earnings results on Wednesday, May 7th. The biotechnology company reported $0.25 earnings per share (EPS) for the quarter. Innoviva had a net margin of 18.31% and a return on equity of 20.84%. The business had revenue of $88.63 million during the quarter. Sell-side analysts predict that Innoviva, Inc. will post 0.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on INVA shares. StockNews.com upgraded shares of Innoviva from a “hold” rating to a “buy” rating in a research note on Wednesday, April 30th. Scotiabank assumed coverage on shares of Innoviva in a research note on Friday, March 7th. They issued a “sector outperform” rating and a $55.00 price objective for the company.

Insider Activity at Innoviva

In other Innoviva news, major shareholder Alexander J. Denner sold 1,196,746 shares of Innoviva stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $17.52, for a total transaction of $20,966,989.92. Following the transaction, the insider now directly owns 5,658,705 shares of the company’s stock, valued at $99,140,511.60. The trade was a 17.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.25% of the stock is currently owned by insiders.

About Innoviva

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.