The Innoviva, Inc. (INVA) Shares Bought by KCG Holdings Inc.

The Innoviva, Inc. (INVA) Shares Bought by KCG Holdings Inc.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Louisiana State Employees Retirement System boosted its position in shares of Innoviva by 1.9% in the first quarter. Louisiana State Employees Retirement System now owns 31,600 shares of the biotechnology company’s stock worth $437,000 after buying an additional 600 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Innoviva by 1.8% in the first quarter. Arizona State Retirement System now owns 40,400 shares of the biotechnology company’s stock worth $559,000 after buying an additional 700 shares in the last quarter. Teachers Advisors LLC boosted its position in shares of Innoviva by 0.7% in the fourth quarter. Teachers Advisors LLC now owns 131,396 shares of the biotechnology company’s stock worth $1,406,000 after buying an additional 879 shares in the last quarter. Mason Street Advisors LLC boosted its position in shares of Innoviva by 7.5% in the first quarter. Mason Street Advisors LLC now owns 18,130 shares of the biotechnology company’s stock worth $251,000 after buying an additional 1,260 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its position in shares of Innoviva by 11.6% in the first quarter. BNP Paribas Arbitrage SA now owns 15,984 shares of the biotechnology company’s stock worth $221,000 after buying an additional 1,656 shares in the last quarter. Hedge funds and other institutional investors own 74.99% of the company’s stock.

KCG Holdings Inc. boosted its position in shares of Innoviva, Inc. (NASDAQ:INVA) by 63.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 30,265 shares of the biotechnology company’s stock after buying an additional 11,802 shares during the period. KCG Holdings Inc.’s holdings in Innoviva were worth $419,000 as of its most recent SEC filing.

Innoviva, Inc. (INVA) traded down 3.01% during midday trading on Wednesday, reaching $12.88. The company’s stock had a trading volume of 5,820,597 shares. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 16.12 and a beta of 2.56. Innoviva, Inc. has a 52-week low of $8.67 and a 52-week high of $14.55. The firm has a 50-day moving average price of $12.85 and a 200 day moving average price of $12.35.

Innoviva (NASDAQ:INVA) last issued its quarterly earnings data on Wednesday, July 26th. The biotechnology company reported $0.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.02. The business had revenue of $58.60 million for the quarter, compared to the consensus estimate of $50.53 million. Innoviva had a net margin of 52.56% and a negative return on equity of 27.37%. The company’s quarterly revenue was up 80.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.13 EPS. Equities research analysts predict that Innoviva, Inc. will post $1.11 EPS for the current fiscal year.

A number of brokerages have commented on INVA. Cowen and Company set a $16.00 price objective on Innoviva and gave the stock a “buy” rating in a research note on Friday, July 28th. Stifel Nicolaus reiterated a “hold” rating and issued a $15.00 price target on shares of Innoviva in a research note on Friday, July 28th. Zacks Investment Research upgraded Innoviva from a “hold” rating to a “strong-buy” rating and set a $16.00 price target on the stock in a research note on Monday. Robert W. Baird reiterated a “neutral” rating and issued a $13.00 price target (up previously from $11.00) on shares of Innoviva in a research note on Thursday, July 27th. Finally, ValuEngine cut Innoviva from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $15.00.

In related news, VP Theodore J. Jr. Witek sold 7,815 shares of the company’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $12.01, for a total value of $93,858.15. Following the transaction, the vice president now owns 251,968 shares in the company, valued at approximately $3,026,135.68. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.60% of the stock is owned by corporate insiders.

Innoviva Company Profile

Innoviva, Inc, formerly Theravance, Inc, is engaged in the development, commercialization and financial management of bio-pharmaceuticals. It focuses on the respiratory assets partnered with Glaxo Group Limited (GSK), including RELVAR/BREO ELLIPTA (fluticasone furoate (FF)/vilanterol (VI)) and ANORO ELLIPTA (umeclidinium bromide/vilanterol (UMEC/VI)).

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