OxFORD Asset Management LLP Has $2.15 Million Stake in Innoviva Inc (INVA)
OxFORD Asset Management LLP grew its stake in Innoviva Inc (NASDAQ:INVA) by 21.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 153,395 shares of the biotechnology company’s stock after purchasing an additional 27,251 shares during the period. OxFORD Asset Management LLP owned approximately 0.14% of Innoviva worth $2,152,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Federated Investors Inc. PA grew its position in Innoviva by 9.2% during the 2nd quarter. Federated Investors Inc. PA now owns 121,499 shares of the biotechnology company’s stock worth $1,555,000 after acquiring an additional 10,269 shares during the last quarter. State of Wisconsin Investment Board bought a new stake in Innoviva during the 2nd quarter worth approximately $730,000. Teachers Advisors LLC grew its position in Innoviva by 3.4% during the 1st quarter. Teachers Advisors LLC now owns 135,848 shares of the biotechnology company’s stock worth $1,879,000 after acquiring an additional 4,452 shares during the last quarter. Crossmark Global Holdings Inc. bought a new stake in Innoviva during the 3rd quarter worth approximately $533,000. Finally, Denali Advisors LLC bought a new stake in Innoviva during the 3rd quarter worth approximately $570,000. Institutional investors own 74.45% of the company’s stock.
Innoviva Inc (NASDAQ INVA) opened at $13.36 on Thursday. Innoviva Inc has a 1-year low of $10.29 and a 1-year high of $14.87. The company has a current ratio of 6.71, a quick ratio of 6.71 and a debt-to-equity ratio of -2.59. The stock has a market capitalization of $1,450.64, a price-to-earnings ratio of 15.44 and a beta of 2.52.
Innoviva (NASDAQ:INVA) last posted its quarterly earnings data on Wednesday, October 25th. The biotechnology company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.13). Innoviva had a negative return on equity of 33.55% and a net margin of 52.91%. The firm had revenue of $48.64 million for the quarter, compared to analyst estimates of $57.18 million. During the same period in the prior year, the company posted $0.13 EPS. The firm’s quarterly revenue was up 46.0% compared to the same quarter last year. equities analysts expect that Innoviva Inc will post 1.07 earnings per share for the current year.
A number of equities research analysts recently commented on INVA shares. ValuEngine upgraded Innoviva from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Zacks Investment Research lowered Innoviva from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Cowen set a $16.00 price target on Innoviva and gave the stock a “buy” rating in a research report on Monday, October 23rd. Morgan Stanley restated an “underweight” rating and set a $8.00 price target (up from $7.00) on shares of Innoviva in a research report on Friday, October 6th. Finally, Deutsche Bank started coverage on Innoviva in a research report on Monday, November 20th. They set a “hold” rating and a $13.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. Innoviva has a consensus rating of “Hold” and an average target price of $13.50.
In other Innoviva news, VP George B. Abercrombie sold 5,215 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $13.26, for a total transaction of $69,150.90. Following the transaction, the vice president now owns 263,866 shares of the company’s stock, valued at approximately $3,498,863.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Eric Desparbes sold 15,285 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $13.28, for a total value of $202,984.80. Following the transaction, the chief financial officer now directly owns 337,027 shares in the company, valued at approximately $4,475,718.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,522 shares of company stock worth $429,985. Company insiders own 1.60% of the company’s stock.
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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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