Intech Investment Management LLC Increases Stock Position in Innoviva, Inc. (NASDAQ:INVA)

Intech Investment Management LLC increased its holdings in Innoviva, Inc. (NASDAQ:INVA) by 28.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,537 shares of the biotechnology company’s stock after buying an additional 4,367 shares during the period. Intech Investment Management LLC’s holdings in Innoviva were worth $377,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of INVA. Price T Rowe Associates Inc. MD boosted its holdings in shares of Innoviva by 3.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 51,487 shares of the biotechnology company’s stock worth $785,000 after acquiring an additional 1,881 shares during the period. GAMMA Investing LLC boosted its stake in Innoviva by 53.7% in the 2nd quarter. GAMMA Investing LLC now owns 3,476 shares of the biotechnology company’s stock worth $57,000 after purchasing an additional 1,214 shares during the period. Harbor Capital Advisors Inc. increased its position in shares of Innoviva by 394.0% during the second quarter. Harbor Capital Advisors Inc. now owns 94,895 shares of the biotechnology company’s stock valued at $1,556,000 after buying an additional 75,685 shares during the period. QRG Capital Management Inc. lifted its holdings in shares of Innoviva by 19.7% in the second quarter. QRG Capital Management Inc. now owns 76,010 shares of the biotechnology company’s stock worth $1,247,000 after buying an additional 12,512 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of Innoviva by 797.4% in the second quarter. SG Americas Securities LLC now owns 81,500 shares of the biotechnology company’s stock valued at $1,337,000 after acquiring an additional 72,418 shares during the period. 99.12% of the stock is currently owned by hedge funds and other institutional investors.

Innoviva Stock Performance

NASDAQ:INVA opened at $18.99 on Wednesday. The company has a quick ratio of 1.64, a current ratio of 1.79 and a debt-to-equity ratio of 0.38. The business’s 50-day moving average price is $19.55 and its two-hundred day moving average price is $18.28. The stock has a market cap of $1.19 billion, a P/E ratio of 27.52 and a beta of 0.53. Innoviva, Inc. has a twelve month low of $13.94 and a twelve month high of $21.28.

Innoviva (NASDAQ:INVA) last issued its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.25). Innoviva had a return on equity of 20.84% and a net margin of 18.31%. The company had revenue of $89.51 million during the quarter. As a group, equities analysts predict that Innoviva, Inc. will post 0.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Innoviva from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 6th.

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.