An amended 13G filing with the US Securities and Exchange Commission revealed that billionaire Seth Klarman‘s Baupost Group has decreased its stake in Innoviva Inc. (NASDAQ:INVA) to 17.37 million shares, which represent 15.29% of the company’s outstanding stock. According to the fund’s latest 13F filing, its stake previously consisted of 17.61 million shares held at the end of June.
Innoviva, formerly known as Theravance, is a biopharmaceutical company that delivers new medicines to patients in areas of unmet need. Recently, Innoviva and GlaxoSmithKline plc reported positive results from the COPD Salford Lung Study, in which the performance of Relvar® Ellipta® in patients with the chronic obstructive pulmonary disease was being evaluated. Since the beginning of the year, the company’s stock has gained 6.55%. For the second quarter of 2016, Innoviva reported earnings per share of $0.13 and revenue of $32.47 million, compared to a loss per share of $0.07 and revenue of $10.65 million for the same quarter in the previous year.
According to Insider Monkey’s hedge fund database, 20 investors were long Innoviva (NASDAQ:INVA) at the end of June, compared to 18 smart money managers in the previous quarter. Some of the bullish investors included David Cohen and Harold Levy’s Iridian Asset Management, with a position worth around $113.65 million, Allan Teh’s Kamunting Street Capital, which held a position valued at $7 million in BOND options, Jean-Marie Eveillard’s First Eagle Investment Management, and Glenn Russell Dubin’s Highbridge Capital Management.
You can access the original SEC filing by clicking here.
Ownership Summary Table
|Name||Sole Voting Power||Shared Voting Power||Sole Dispositive Power||Shared Dispositive Power||Aggregate Amount Owned Power||Percent of Class|
|The Baupost Group||0||17,371,043||0||17,371,043||17,371,043||15.29%|
|Seth A. Klarman||0||17,371,043||0||17,371,043||17,371,043||15.29%|
Page 1 of 5 – SEC Filing
SECURITIES AND EXCHANGE COMMISSION
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