Empowered Funds LLC Has $1.85 Million Stake in Innoviva, Inc. (NASDAQ:INVA)

Empowered Funds LLC lessened its stake in Innoviva, Inc. (NASDAQ:INVA - Free Report) by 64.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 95,964 shares of the biotechnology company's stock after selling 173,122 shares during the quarter. Empowered Funds LLC owned about 0.15% of Innoviva worth $1,853,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in INVA. SG Americas Securities LLC bought a new stake in Innoviva in the first quarter valued at about $138,000. Avantax Advisory Services Inc. increased its holdings in shares of Innoviva by 32.2% in the first quarter. Avantax Advisory Services Inc. now owns 16,413 shares of the biotechnology company's stock worth $250,000 after acquiring an additional 3,996 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of Innoviva by 6.2% in the first quarter. ProShare Advisors LLC now owns 16,150 shares of the biotechnology company's stock worth $246,000 after acquiring an additional 942 shares in the last quarter. O Shaughnessy Asset Management LLC increased its holdings in shares of Innoviva by 108.8% in the first quarter. O Shaughnessy Asset Management LLC now owns 73,066 shares of the biotechnology company's stock worth $1,114,000 after acquiring an additional 38,080 shares in the last quarter. Finally, Bessemer Group Inc. increased its holdings in shares of Innoviva by 333.5% in the first quarter. Bessemer Group Inc. now owns 2,211 shares of the biotechnology company's stock worth $33,000 after acquiring an additional 1,701 shares in the last quarter. Institutional investors own 99.12% of the company's stock.

Innoviva Stock Down 0.5 %

Shares of INVA stock traded down $0.09 on Thursday, hitting $19.06. 429,885 shares of the stock were exchanged, compared to its average volume of 588,495. 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 capitalization of $1.19 billion, a P/E ratio of 27.61 and a beta of 0.57. The business has a 50-day moving average of $19.62 and a 200 day moving average of $18.05. Innoviva, Inc. has a fifty-two week low of $13.46 and a fifty-two week high of $21.28.

Innoviva (NASDAQ:INVA - Get Free Report) last posted its quarterly earnings data 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). The firm had revenue of $89.51 million for the quarter. Innoviva had a return on equity of 20.84% and a net margin of 18.31%. Equities analysts anticipate that Innoviva, Inc. will post 0.33 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. StockNews.com downgraded Innoviva from a "strong-buy" rating to a "buy" rating in a report on Tuesday, August 6th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Innoviva in a research report on Tuesday, July 30th.

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.