Wellington Management Group LLP Takes $1.94 Million Position in Innoviva, Inc. (NASDAQ:INVA)

Wellington Management Group LLP acquired a new position in Innoviva, Inc. (NASDAQ:INVA) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 120,926 shares of the biotechnology company’s stock, valued at approximately $1,940,000. Wellington Management Group LLP owned 0.19% of Innoviva at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in INVA. Invesco Ltd. lifted its position in shares of Innoviva by 55.2% in the 3rd quarter. Invesco Ltd. now owns 661,978 shares of the biotechnology company’s stock worth $8,599,000 after purchasing an additional 235,330 shares during the period. Profund Advisors LLC lifted its holdings in Innoviva by 7.9% during the third quarter. Profund Advisors LLC now owns 11,879 shares of the biotechnology company’s stock worth $154,000 after buying an additional 871 shares during the period. Exchange Traded Concepts LLC boosted its position in Innoviva by 1.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 158,586 shares of the biotechnology company’s stock valued at $2,544,000 after acquiring an additional 1,628 shares in the last quarter. Pacer Advisors Inc. increased its holdings in shares of Innoviva by 119,140.3% in the 4th quarter. Pacer Advisors Inc. now owns 1,728,984 shares of the biotechnology company’s stock valued at $27,733,000 after acquiring an additional 1,727,534 shares during the period. Finally, Ritholtz Wealth Management bought a new position in shares of Innoviva in the 4th quarter worth $213,000. 99.12% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on INVA. StockNews.com upgraded shares of Innoviva from a “hold” rating to a “buy” rating in a report on Friday, March 29th. Cantor Fitzgerald began coverage on shares of Innoviva in a research note on Tuesday, June 18th. They set an “overweight” rating for the company.

Innoviva Trading Up 0.6 %

Shares of NASDAQ:INVA opened at $16.50 on Tuesday. The business’s 50-day moving average is $15.81 and its 200 day moving average is $15.66. The company has a debt-to-equity ratio of 0.63, a current ratio of 10.42 and a quick ratio of 9.17. Innoviva, Inc. has a 1 year low of $12.22 and a 1 year high of $16.86. The firm has a market capitalization of $1.03 billion, a P/E ratio of 7.43 and a beta of 0.57.

Innoviva (NASDAQ:INVA) last posted its quarterly earnings data on Wednesday, May 8th. The biotechnology company reported $0.46 earnings per share (EPS) for the quarter. The firm had revenue of $77.50 million for the quarter. Innoviva had a net margin of 58.21% and a return on equity of 28.94%. On average, research analysts predict that Innoviva, Inc. will post 1.09 earnings per share for the current fiscal year.

Innoviva Profile

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.