Charles Schwab Investment Management Inc. Reduces Stock Position in Innoviva, Inc. (NASDAQ:INVA)

Charles Schwab Investment Management Inc. decreased its holdings in Innoviva, Inc. (NASDAQ:INVA) by 11.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 732,296 shares of the biotechnology company’s stock after selling 98,766 shares during the period. Charles Schwab Investment Management Inc. owned 1.17% of Innoviva worth $14,141,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its position in Innoviva by 1.5% during the second quarter. Dimensional Fund Advisors LP now owns 4,684,594 shares of the biotechnology company’s stock valued at $76,826,000 after purchasing an additional 71,336 shares during the period. American Century Companies Inc. raised its holdings in Innoviva by 369.6% during the 2nd quarter. American Century Companies Inc. now owns 459,690 shares of the biotechnology company’s stock valued at $7,539,000 after buying an additional 361,797 shares during the period. Denali Advisors LLC lifted its position in Innoviva by 34.9% in the second quarter. Denali Advisors LLC now owns 439,786 shares of the biotechnology company’s stock worth $7,212,000 after buying an additional 113,700 shares during the last quarter. Marshall Wace LLP increased its position in Innoviva by 823.3% during the second quarter. Marshall Wace LLP now owns 204,752 shares of the biotechnology company’s stock valued at $3,358,000 after acquiring an additional 182,575 shares during the last quarter. Finally, Assetmark Inc. raised its stake in shares of Innoviva by 4.9% in the third quarter. Assetmark Inc. now owns 154,890 shares of the biotechnology company’s stock valued at $2,991,000 after acquiring an additional 7,168 shares during the period. Hedge funds and other institutional investors own 99.12% of the company’s stock.

Innoviva Stock Up 0.7 %

Shares of NASDAQ INVA opened at $19.05 on Monday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.79 and a quick ratio of 1.64. The firm has a 50-day simple moving average of $19.54 and a two-hundred day simple moving average of $18.34. Innoviva, Inc. has a 1 year low of $14.25 and a 1 year high of $21.28. The company has a market cap of $1.19 billion, a P/E ratio of 27.61 and a beta of 0.53.

Innoviva (NASDAQ:INVA) last announced its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.25). The firm had revenue of $89.51 million for the quarter. Innoviva had a net margin of 18.31% and a return on equity of 20.84%. Research analysts anticipate that Innoviva, Inc. will post 0.33 earnings per share for the current year.

About Innoviva

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.