Martingale Asset Management L P Buys 550 Shares of Innoviva, Inc. (NASDAQ:INVA)

Martingale Asset Management L P boosted its holdings in Innoviva, Inc. (NASDAQ:INVA) by 0.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,842 shares of the biotechnology company’s stock after buying an additional 550 shares during the quarter. Martingale Asset Management L P’s holdings in Innoviva were worth $1,503,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in INVA. 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 worth $7,539,000 after purchasing an additional 361,797 shares during the last quarter. Boston Partners boosted its holdings in Innoviva by 90.3% during the 1st quarter. Boston Partners now owns 391,456 shares of the biotechnology company’s stock worth $5,966,000 after acquiring an additional 185,784 shares during the last quarter. Marshall Wace LLP boosted its holdings in Innoviva by 823.3% during the 2nd quarter. Marshall Wace LLP now owns 204,752 shares of the biotechnology company’s stock worth $3,358,000 after acquiring an additional 182,575 shares during the last quarter. Squarepoint Ops LLC purchased a new position in Innoviva during the 2nd quarter worth $2,198,000. Finally, Denali Advisors LLC raised its stake in shares of Innoviva by 34.9% during the 2nd quarter. Denali Advisors LLC now owns 439,786 shares of the biotechnology company’s stock worth $7,212,000 after purchasing an additional 113,700 shares during the period. Institutional investors own 99.12% of the company’s stock.

Innoviva Trading Down 0.3 %

Shares of Innoviva stock opened at $18.99 on Monday. Innoviva, Inc. has a 52-week low of $13.66 and a 52-week high of $21.28. The stock’s 50-day simple moving average is $19.54 and its 200 day simple moving average is $18.24. The stock has a market capitalization of $1.19 billion, a P/E ratio of 27.52 and a beta of 0.57. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.64 and a current ratio of 1.79.

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

Analysts Set New Price Targets

Separately, StockNews.com cut Innoviva from a “strong-buy” rating to a “buy” rating in a research note 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.