34,879 Shares in Innoviva Inc (NASDAQ:INVA) Acquired by Marshall Wace North America L.P.

Marshall Wace North America L.P. acquired a new position in Innoviva Inc (NASDAQ:INVA) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 34,879 shares of the biotechnology company’s stock, valued at approximately $490,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Innoviva in the 4th quarter worth approximately $23,925,000. D. E. Shaw & Co. Inc. lifted its stake in shares of 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 worth $34,138,000 after acquiring an additional 1,001,636 shares during the last quarter. 13D Management LLC bought a new stake in shares of Innoviva during the 1st quarter worth approximately $8,593,000. MERIAN GLOBAL INVESTORS UK Ltd raised its position 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 in the last quarter. Finally, Oregon Public Employees Retirement Fund bought a new stake in Innoviva during the 4th quarter valued at $26,000. 77.85% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts have weighed in on INVA shares. ValuEngine lowered Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday. BidaskClub lowered Zebra Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Zacks Investment Research downgraded H&E Equipment Services from a “hold” rating to a “sell” rating in a research note on Wednesday.

Shares of INVA stock traded up $0.03 on Thursday, hitting $13.51. The company had a trading volume of 407,153 shares, compared to its average volume of 1,038,973. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 3.83 and a beta of 1.63. Innoviva Inc has a twelve month low of $13.07 and a twelve month high of $20.54. 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 company’s 50-day simple moving average is $14.15.

Innoviva (NASDAQ:INVA) last released its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). The business had revenue of $55.18 million during the quarter. Innoviva had a return on equity of 1,674.72% and a net margin of 151.35%. As a group, sell-side analysts predict that Innoviva Inc will post 1.58 earnings per share for the current fiscal year.

About Innoviva

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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