Innoviva, Inc. (NASDAQ:INVA) Stock Position Cut by Denali Advisors LLC

Denali Advisors LLC lessened its stake in Innoviva, Inc. (NASDAQ:INVA) by 0.9% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 326,086 shares of the biotechnology company’s stock after selling 3,100 shares during the quarter. Innoviva comprises 1.5% of Denali Advisors LLC’s holdings, making the stock its 19th biggest position. Denali Advisors LLC’s holdings in Innoviva were worth $4,970,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. SummerHaven Investment Management LLC grew its position in Innoviva by 1.2% in the 4th quarter. SummerHaven Investment Management LLC now owns 58,298 shares of the biotechnology company’s stock valued at $935,000 after buying an additional 705 shares in the last quarter. Profund Advisors LLC grew its position in Innoviva by 7.9% in the 3rd quarter. Profund Advisors LLC now owns 11,879 shares of the biotechnology company’s stock valued at $154,000 after buying an additional 871 shares in the last quarter. Quadrant Capital Group LLC grew its position in Innoviva by 13.2% in the 4th quarter. Quadrant Capital Group LLC now owns 9,042 shares of the biotechnology company’s stock valued at $145,000 after buying an additional 1,056 shares in the last quarter. GAMMA Investing LLC grew its position in Innoviva by 124.0% in the 1st quarter. GAMMA Investing LLC now owns 2,262 shares of the biotechnology company’s stock valued at $34,000 after buying an additional 1,252 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in Innoviva by 14.1% in the 4th quarter. Victory Capital Management Inc. now owns 12,600 shares of the biotechnology company’s stock valued at $202,000 after buying an additional 1,558 shares in the last quarter. Institutional investors own 99.12% of the company’s stock.

Innoviva Price Performance

NASDAQ INVA traded down $0.17 on Wednesday, reaching $16.33. The company’s stock had a trading volume of 158,746 shares, compared to its average volume of 620,785. Innoviva, Inc. has a twelve month low of $12.22 and a twelve month high of $16.86. The company has a debt-to-equity ratio of 0.63, a quick ratio of 9.17 and a current ratio of 10.42. The stock has a market cap of $1.02 billion, a PE ratio of 7.43 and a beta of 0.57. The firm’s 50 day moving average is $15.83 and its two-hundred day moving average is $15.67.

Innoviva (NASDAQ:INVA) last posted its quarterly earnings data on Wednesday, May 8th. The biotechnology company reported $0.46 EPS for the quarter. Innoviva had a net margin of 58.21% and a return on equity of 28.94%. The company had revenue of $77.50 million during the quarter. As a group, sell-side analysts predict that Innoviva, Inc. will post 1.09 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Cantor Fitzgerald assumed coverage on shares of Innoviva in a report on Tuesday, June 18th. They issued an “overweight” rating for the company. StockNews.com raised shares of Innoviva from a “hold” rating to a “buy” rating in a report on Friday, March 29th.

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.