Denali Advisors LLC Cuts Position in Innoviva, Inc. (NASDAQ:INVA)

Denali Advisors LLC reduced its holdings in shares of Innoviva, Inc. (NASDAQ:INVA - Free Report) by 6.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 354,324 shares of the biotechnology company's stock after selling 26,078 shares during the quarter. Denali Advisors LLC owned 0.57% of Innoviva worth $6,148,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of INVA. US Bancorp DE lifted its holdings in shares of Innoviva by 24.5% during the third quarter. US Bancorp DE now owns 2,875 shares of the biotechnology company's stock valued at $56,000 after purchasing an additional 566 shares in the last quarter. KBC Group NV lifted its holdings in shares of Innoviva by 73.9% during the fourth quarter. KBC Group NV now owns 4,100 shares of the biotechnology company's stock valued at $71,000 after purchasing an additional 1,743 shares in the last quarter. FMR LLC lifted 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 purchasing an additional 771 shares in the last quarter. Walleye Capital LLC bought a new position in shares of Innoviva during the third quarter valued at $214,000. Finally, World Investment Advisors LLC bought a new position in shares of Innoviva during the third quarter valued at $217,000. 99.12% of the stock is owned by institutional investors.

Innoviva Stock Performance

INVA stock traded up $0.37 during trading on Friday, reaching $17.92. The stock had a trading volume of 648,544 shares, compared to its average volume of 540,793. Innoviva, Inc. has a 52 week low of $14.32 and a 52 week high of $21.28. The stock's 50 day moving average is $18.04 and its two-hundred day moving average is $18.85. The company has a current ratio of 1.79, a quick ratio of 1.64 and a debt-to-equity ratio of 0.38. The firm has a market cap of $1.12 billion, a PE ratio of 25.97 and a beta of 0.55.

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Innoviva (NASDAQ:INVA - Get Free Report) last posted its earnings results on Wednesday, February 26th. The biotechnology company reported $0.57 earnings per share for the quarter. Innoviva had a return on equity of 20.84% and a net margin of 18.31%. The company had revenue of $91.81 million for the quarter. As a group, equities analysts anticipate that Innoviva, Inc. will post 0.33 earnings per share for the current year.

Analyst Ratings Changes

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.