Allspring Global Investments Holdings LLC Sells 4,700 Shares of Innoviva, Inc. (NASDAQ:INVA)

Allspring Global Investments Holdings LLC cut its position in Innoviva, Inc. (NASDAQ:INVA) by 5.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 86,214 shares of the biotechnology company’s stock after selling 4,700 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.14% of Innoviva worth $1,665,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Creative Planning boosted its holdings in Innoviva by 21.1% in the 3rd quarter. Creative Planning now owns 26,780 shares of the biotechnology company’s stock valued at $517,000 after purchasing an additional 4,669 shares during the period. Ritholtz Wealth Management boosted its stake in shares of Innoviva by 22.6% in the third quarter. Ritholtz Wealth Management now owns 71,657 shares of the biotechnology company’s stock valued at $1,384,000 after buying an additional 13,232 shares during the period. GAMMA Investing LLC boosted its stake in shares of Innoviva by 18.5% in the third quarter. GAMMA Investing LLC now owns 4,119 shares of the biotechnology company’s stock valued at $80,000 after buying an additional 643 shares during the period. Chase Investment Counsel Corp increased its stake in Innoviva by 8.1% during the 2nd quarter. Chase Investment Counsel Corp now owns 80,000 shares of the biotechnology company’s stock worth $1,312,000 after acquiring an additional 6,000 shares during the period. Finally, Caxton Associates LP increased its stake in Innoviva by 204.5% during the 2nd quarter. Caxton Associates LP now owns 108,277 shares of the biotechnology company’s stock worth $1,776,000 after acquiring an additional 72,716 shares during the period. Institutional investors own 99.12% of the company’s stock.

Innoviva Stock Down 0.9 %

Shares of INVA opened at $19.71 on Thursday. The firm has a 50 day simple moving average of $19.50 and a two-hundred day simple moving average of $17.56. The company has a debt-to-equity ratio of 0.67, a current ratio of 12.70 and a quick ratio of 11.40. Innoviva, Inc. has a one year low of $12.22 and a one year high of $20.37. The company has a market cap of $1.23 billion, a P/E ratio of 11.95 and a beta of 0.57.

Innoviva (NASDAQ:INVA) last issued its quarterly earnings results on Wednesday, July 31st. The biotechnology company reported $0.68 earnings per share (EPS) for the quarter. Innoviva had a return on equity of 33.26% and a net margin of 44.00%. The company had revenue of $99.90 million for the quarter. Research analysts forecast that Innoviva, Inc. will post 0.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

INVA has been the topic of several analyst reports. StockNews.com lowered Innoviva from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 6th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Innoviva in a research note on Tuesday, July 30th.

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.