Innoviva, Inc. (NASDAQ:INVA) Short Interest Down 7.5% in November

Innoviva, Inc. (NASDAQ:INVA) was the recipient of a significant decrease in short interest in the month of November. As of November 30th, there was short interest totalling 10,730,000 shares, a decrease of 7.5% from the November 15th total of 11,600,000 shares. Currently, 17.3% of the shares of the company are sold short. Based on an average daily volume of 601,600 shares, the days-to-cover ratio is currently 17.8 days.

Innoviva Trading Down 0.3 %

NASDAQ:INVA opened at $18.37 on Wednesday. The company’s 50 day moving average is $19.45 and its 200-day moving average is $18.47. The company has a quick ratio of 1.64, a current ratio of 1.79 and a debt-to-equity ratio of 0.38. Innoviva has a 12 month low of $14.32 and a 12 month high of $21.28. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 26.62 and a beta of 0.53.

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

Hedge Funds Weigh In On Innoviva

Institutional investors have recently made changes to their positions in the business. Hennion & Walsh Asset Management Inc. acquired a new stake in Innoviva in the 2nd quarter valued at approximately $167,000. SummerHaven Investment Management LLC grew its stake in shares of Innoviva by 1.7% in the second quarter. SummerHaven Investment Management LLC now owns 59,853 shares of the biotechnology company’s stock worth $982,000 after acquiring an additional 980 shares during the last quarter. EdgeRock Capital LLC bought a new position in Innoviva during the second quarter worth $31,000. Innealta Capital LLC acquired a new position in Innoviva during the 2nd quarter valued at $33,000. Finally, Ritholtz Wealth Management boosted its holdings in Innoviva by 68.3% in the 2nd quarter. Ritholtz Wealth Management now owns 58,425 shares of the biotechnology company’s stock valued at $958,000 after purchasing an additional 23,718 shares during the period. 99.12% of the stock is currently owned by institutional investors.

Innoviva Company 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.