Exchange Traded Concepts LLC Raises Stock Position in Innoviva, Inc. (NASDAQ:INVA)

Exchange Traded Concepts LLC lifted its position in Innoviva, Inc. (NASDAQ:INVA) by 4.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 162,005 shares of the biotechnology company’s stock after purchasing an additional 7,220 shares during the period. Exchange Traded Concepts LLC owned 0.26% of Innoviva worth $2,811,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. US Bancorp DE lifted its holdings in Innoviva by 24.5% during the third quarter. US Bancorp DE now owns 2,875 shares of the biotechnology company’s stock worth $56,000 after buying an additional 566 shares during the period. GAMMA Investing LLC grew its stake in shares of Innoviva by 18.5% during the third quarter. GAMMA Investing LLC now owns 4,119 shares of the biotechnology company’s stock worth $80,000 after acquiring an additional 643 shares during the last quarter. FMR LLC increased its holdings in shares of Innoviva by 8.2% during the third quarter. FMR LLC now owns 10,119 shares of the biotechnology company’s stock valued at $195,000 after acquiring an additional 771 shares in the last quarter. Walleye Capital LLC acquired a new position in shares of Innoviva during the third quarter valued at about $214,000. Finally, World Investment Advisors LLC purchased a new position in shares of Innoviva in the 3rd quarter valued at approximately $217,000. Institutional investors own 99.12% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Innoviva from a “buy” rating to a “hold” rating in a report on Tuesday, December 31st.

Innoviva Price Performance

Shares of NASDAQ INVA opened at $18.70 on Friday. Innoviva, Inc. has a 52 week low of $14.32 and a 52 week high of $21.28. The business’s 50 day moving average price is $18.32 and its 200 day moving average price is $18.80. The company has a quick ratio of 1.64, a current ratio of 1.79 and a debt-to-equity ratio of 0.38. The firm has a market cap of $1.17 billion, a P/E ratio of 27.10 and a beta of 0.54.

Innoviva (NASDAQ:INVA) last released its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.25). The business had revenue of $89.51 million during the quarter. Innoviva had a return on equity of 20.84% and a net margin of 18.31%. On average, sell-side analysts expect that Innoviva, Inc. will post 0.33 earnings per share for the current year.

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.