Harbor Capital Advisors Inc. Grows Holdings in Innoviva, Inc. (NASDAQ:INVA)

Harbor Capital Advisors Inc. grew its position in shares of Innoviva, Inc. (NASDAQ:INVA) by 44.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 136,722 shares of the biotechnology company’s stock after purchasing an additional 41,827 shares during the period. Harbor Capital Advisors Inc. owned approximately 0.22% of Innoviva worth $2,640,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in shares of Innoviva by 1.5% in the second quarter. Dimensional Fund Advisors LP now owns 4,684,594 shares of the biotechnology company’s stock worth $76,826,000 after buying an additional 71,336 shares during the period. American Century Companies Inc. grew its holdings in shares of Innoviva by 369.6% during the second quarter. American Century Companies Inc. now owns 459,690 shares of the biotechnology company’s stock valued at $7,539,000 after buying an additional 361,797 shares during the last quarter. Denali Advisors LLC grew its stake in Innoviva by 34.9% during the 2nd quarter. Denali Advisors LLC now owns 439,786 shares of the biotechnology company’s stock valued at $7,212,000 after purchasing an additional 113,700 shares during the last quarter. Boston Partners increased its holdings in Innoviva by 90.3% in the 1st quarter. Boston Partners now owns 391,456 shares of the biotechnology company’s stock worth $5,966,000 after buying an additional 185,784 shares during the period. Finally, Hillsdale Investment Management Inc. increased its stake in shares of Innoviva by 8.6% in the first quarter. Hillsdale Investment Management Inc. now owns 315,600 shares of the biotechnology company’s stock worth $4,810,000 after acquiring an additional 24,900 shares during the period. Institutional investors own 99.12% of the company’s stock.

Innoviva Stock Performance

Shares of Innoviva stock opened at $19.36 on Tuesday. The company has a quick ratio of 11.40, a current ratio of 12.70 and a debt-to-equity ratio of 0.67. Innoviva, Inc. has a 52 week low of $13.31 and a 52 week high of $20.37. The firm’s 50 day moving average is $19.55 and its two-hundred day moving average is $17.66. The firm has a market capitalization of $1.21 billion, a P/E ratio of 11.73 and a beta of 0.57.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Innoviva in a research report on Tuesday, July 30th. StockNews.com cut shares of Innoviva from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 6th.

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.