Rhumbline Advisers Has $3.25 Million Position in Innoviva, Inc. (NASDAQ:INVA)

Rhumbline Advisers lifted its position in Innoviva, Inc. (NASDAQ:INVA) by 2.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 187,318 shares of the biotechnology company’s stock after buying an additional 3,931 shares during the period. Rhumbline Advisers owned about 0.30% of Innoviva worth $3,250,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Barclays PLC raised its stake in shares of Innoviva by 254.2% during the 3rd quarter. Barclays PLC now owns 100,594 shares of the biotechnology company’s stock worth $1,942,000 after purchasing an additional 72,192 shares in the last quarter. Jane Street Group LLC raised its position in shares of Innoviva by 46.4% in the 3rd quarter. Jane Street Group LLC now owns 136,361 shares of the biotechnology company’s stock valued at $2,633,000 after buying an additional 43,218 shares in the last quarter. FMR LLC lifted its stake in Innoviva by 8.2% during the third quarter. FMR LLC now owns 10,119 shares of the biotechnology company’s stock worth $195,000 after purchasing an additional 771 shares during the last quarter. Segall Bryant & Hamill LLC bought a new position in shares of Innoviva in the third quarter worth about $715,000. Finally, Victory Capital Management Inc. increased its holdings in shares of Innoviva by 3.5% during the third quarter. Victory Capital Management Inc. now owns 140,454 shares of the biotechnology company’s stock worth $2,712,000 after buying an additional 4,699 shares in the last quarter. Institutional investors and hedge funds own 99.12% of the company’s stock.

Innoviva Stock Up 2.1 %

Shares of NASDAQ:INVA opened at $17.92 on Friday. The business has a fifty day moving average price of $18.04 and a two-hundred day moving average price of $18.85. 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 company has a market capitalization of $1.12 billion, a PE ratio of 25.97 and a beta of 0.55. Innoviva, Inc. has a 1 year low of $14.32 and a 1 year high of $21.28.

Innoviva (NASDAQ:INVA) last announced its quarterly earnings results on Wednesday, February 26th. The biotechnology company reported $0.57 earnings per share for the quarter. The company had revenue of $91.81 million during the quarter. Innoviva had a return on equity of 20.84% and a net margin of 18.31%. Analysts forecast that Innoviva, Inc. will post 0.33 earnings per share for the current year.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Innoviva from a “buy” rating to a “hold” rating in a report on Saturday, February 22nd.

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.