Caxton Associates LP Cuts Holdings in Innoviva, Inc. (NASDAQ:INVA)

Caxton Associates LP lowered its holdings in Innoviva, Inc. (NASDAQ:INVA) by 7.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,480 shares of the biotechnology company’s stock after selling 2,044 shares during the quarter. Caxton Associates LP’s holdings in Innoviva were worth $442,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of INVA. Balyasny Asset Management L.P. purchased a new position in Innoviva in the 4th quarter worth about $277,000. Jane Street Group LLC grew its stake in shares of Innoviva by 142.5% in the fourth quarter. Jane Street Group LLC now owns 330,631 shares of the biotechnology company’s stock worth $5,736,000 after acquiring an additional 194,270 shares during the period. Freestone Grove Partners LP purchased a new position in shares of Innoviva during the fourth quarter valued at approximately $674,000. Schonfeld Strategic Advisors LLC lifted its position in Innoviva by 16.7% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 104,600 shares of the biotechnology company’s stock valued at $1,815,000 after purchasing an additional 14,957 shares during the period. Finally, Northern Trust Corp boosted its holdings in Innoviva by 4.0% in the fourth quarter. Northern Trust Corp now owns 679,044 shares of the biotechnology company’s stock worth $11,781,000 after purchasing an additional 26,429 shares during the last quarter. 99.12% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on INVA shares. Scotiabank began coverage on shares of Innoviva in a research note on Friday, March 7th. They set a “sector outperform” rating and a $55.00 target price for the company. StockNews.com upgraded Innoviva from a “hold” rating to a “buy” rating in a research report on Wednesday, April 30th.

Insiders Place Their Bets

In related news, major shareholder Alexander J. Denner sold 1,196,746 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $17.52, for a total transaction of $20,966,989.92. Following the completion of the transaction, the insider now directly owns 5,658,705 shares in the company, valued at approximately $99,140,511.60. The trade was a 17.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.25% of the company’s stock.

Innoviva Stock Up 0.2 %

Shares of INVA stock opened at $18.74 on Thursday. The company has a current ratio of 1.79, a quick ratio of 1.64 and a debt-to-equity ratio of 0.38. Innoviva, Inc. has a 12 month low of $15.16 and a 12 month high of $21.28. The stock has a market cap of $1.17 billion, a P/E ratio of 27.16 and a beta of 0.35. The company has a 50 day simple moving average of $17.86 and a two-hundred day simple moving average of $18.35.

Innoviva (NASDAQ:INVA) last posted its quarterly earnings data on Wednesday, May 7th. The biotechnology company reported $0.25 EPS for the quarter. Innoviva had a return on equity of 20.84% and a net margin of 18.31%. On average, research analysts expect that Innoviva, Inc. will post 0.33 earnings per share for the current year.

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.