Capital Fund Management S.A. Buys New Stake in Innoviva Inc. (INVA)

Capital Fund Management S.A. acquired a new position in shares of Innoviva Inc. (NASDAQ:INVA) during the second quarter, Holdings Channel reports. The institutional investor acquired 53,200 shares of the company’s stock, valued at approximately $560,000.

Several other large investors have also made changes to their positions in the stock. Bayesian Capital Management LP acquired a new stake in shares of Innoviva during the first quarter worth approximately $194,000. Fox Run Management L.L.C. increased its stake in Innoviva by 169.8% in the second quarter. Fox Run Management L.L.C. now owns 43,700 shares of the company’s stock worth $460,000 after buying an additional 27,500 shares during the period. Smith Asset Management Group LP purchased a new stake in Innoviva during the second quarter worth about $571,000. BlackRock Group LTD purchased a new stake in Innoviva during the first quarter worth about $867,000. Finally, Old Mutual Global Investors UK Ltd. purchased a new stake in Innoviva during the second quarter worth about $882,000. 81.20% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Innoviva (NASDAQ:INVA)

Shares of Innoviva Inc. (NASDAQ:INVA) traded down 1.57% on Wednesday, hitting $10.03. The company’s stock had a trading volume of 815,563 shares. The stock’s 50 day moving average price is $11.16 and its 200 day moving average price is $11.71. Innoviva Inc. has a 52 week low of $7.56 and a 52 week high of $14.15. The stock has a market capitalization of $1.12 billion, a P/E ratio of 60.79 and a beta of 1.99.

Innoviva (NASDAQ:INVA) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.06. Innoviva had a negative return on equity of 7.39% and a net margin of 20.15%. The company earned $32.47 million during the quarter, compared to the consensus estimate of $31.13 million. During the same quarter in the prior year, the firm earned ($0.07) EPS. The company’s quarterly revenue was up 204.6% compared to the same quarter last year. On average, analysts forecast that Innoviva Inc. will post $0.63 earnings per share for the current fiscal year.

A number of equities research analysts have issued reports on INVA shares. Zacks Investment Research raised Innoviva from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research report on Tuesday, August 30th. TheStreet raised Innoviva from a “sell” rating to a “hold” rating in a research report on Thursday, July 28th. Finally, Robert W. Baird reissued a “neutral” rating and set a $11.00 price target (up previously from $9.00) on shares of Innoviva in a research report on Sunday, July 31st.

In other news, CFO Eric Desparbes sold 3,700 shares of the stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $11.77, for a total transaction of $43,549.00. Following the completion of the sale, the chief financial officer now owns 239,893 shares in the company, valued at approximately $2,823,540.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.60% of the company’s stock.

About Innoviva

Innoviva, Inc, formerly Theravance, Inc, focuses on bringing new medicines to patients in areas of unmet need. The Company is engaged in the development, commercialization and financial management of bio-pharmaceuticals. Its portfolio focuses on the respiratory assets partnered with Glaxo Group Limited (GSK), including RELVAR/BREO ELLIPTA (fluticasone furoate/vilanterol (FF/VI)) and ANORO ELLIPTA (umeclidinium bromide/vilanterol (UMEC/VI)).

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