Innoviva Inc (NASDAQ:INVA) was the target of unusually large options trading on Monday. Traders purchased 4,118 call options on the stock. This represents an increase of 1,094% compared to the typical daily volume of 345 call options.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INVA. Bank of Montreal Can lifted its stake in shares of Innoviva by 175.4% in the 2nd quarter. Bank of Montreal Can now owns 10,167 shares of the biotechnology company’s stock valued at $147,000 after purchasing an additional 6,475 shares during the period. 6 Meridian lifted its stake in shares of Innoviva by 78.3% in the 3rd quarter. 6 Meridian now owns 20,380 shares of the biotechnology company’s stock valued at $215,000 after purchasing an additional 8,953 shares during the period. United Services Automobile Association lifted its stake in shares of Innoviva by 8.2% in the 2nd quarter. United Services Automobile Association now owns 19,841 shares of the biotechnology company’s stock valued at $289,000 after purchasing an additional 1,506 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Innoviva by 7.5% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 31,600 shares of the biotechnology company’s stock valued at $333,000 after purchasing an additional 2,200 shares during the period. Finally, Voloridge Investment Management LLC lifted its stake in shares of Innoviva by 37.8% in the 3rd quarter. Voloridge Investment Management LLC now owns 35,856 shares of the biotechnology company’s stock valued at $378,000 after purchasing an additional 9,834 shares during the period. Institutional investors and hedge funds own 71.70% of the company’s stock.

INVA traded up $0.06 on Tuesday, hitting $14.00. 70,141 shares of the company were exchanged, compared to its average volume of 532,433. Innoviva has a 12 month low of $10.03 and a 12 month high of $20.54. The company has a debt-to-equity ratio of 1.37, a quick ratio of 110.18 and a current ratio of 110.18. The firm has a fifty day simple moving average of $13.73 and a two-hundred day simple moving average of $12.33. The stock has a market capitalization of $1.41 billion, a PE ratio of 3.97 and a beta of 1.51.

Innoviva (NASDAQ:INVA) last released its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.36 earnings per share for the quarter, hitting the consensus estimate of $0.36. Innoviva had a return on equity of 168.69% and a net margin of 141.80%. The business had revenue of $65.38 million during the quarter. On average, equities analysts expect that Innoviva will post 2.03 earnings per share for the current year.

INVA has been the topic of several recent research reports. BidaskClub upgraded Innoviva from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Zacks Investment Research lowered Innoviva from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. TheStreet upgraded Innoviva from a “c+” rating to a “b-” rating in a research report on Thursday, December 12th. Finally, ValuEngine upgraded Innoviva from a “sell” rating to a “hold” rating in a research report on Friday, November 1st.

Innoviva Company Profile

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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