Innoviva, Inc. (NASDAQ:INVA) Shares Sold by Rhumbline Advisers

Rhumbline Advisers reduced its stake in Innoviva, Inc. (NASDAQ:INVA) by 1.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 204,782 shares of the biotechnology company’s stock after selling 3,325 shares during the period. Rhumbline Advisers owned 0.33% of Innoviva worth $3,358,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of INVA. Westfield Capital Management Co. LP boosted its stake in Innoviva by 27.8% in the fourth quarter. Westfield Capital Management Co. LP now owns 2,614,127 shares of the biotechnology company’s stock valued at $41,931,000 after acquiring an additional 569,117 shares during the period. CWA Asset Management Group LLC bought a new stake in shares of Innoviva during the fourth quarter valued at approximately $4,070,000. Boston Partners raised its holdings in shares of Innoviva by 90.3% during the first quarter. Boston Partners now owns 391,456 shares of the biotechnology company’s stock valued at $5,966,000 after buying an additional 185,784 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Innoviva by 17.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 933,259 shares of the biotechnology company’s stock valued at $14,969,000 after buying an additional 135,456 shares during the last quarter. Finally, Wellington Management Group LLP bought a new stake in Innoviva during the fourth quarter worth approximately $1,940,000. 99.12% of the stock is currently owned by institutional investors and hedge funds.

Innoviva Trading Down 1.6 %

Innoviva stock opened at $19.71 on Wednesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 11.40 and a current ratio of 12.70. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of 8.95 and a beta of 0.57. Innoviva, Inc. has a 1 year low of $12.22 and a 1 year high of $20.19. The firm’s 50 day moving average price is $18.48 and its two-hundred day moving average price is $16.52.

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

Analyst Ratings Changes

Several brokerages recently commented on INVA. StockNews.com cut Innoviva from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 6th. Cantor Fitzgerald restated an “overweight” rating on shares of Innoviva in a research report on Tuesday, July 30th.

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.