Entropy Technologies LP Invests $248,000 in Innoviva, Inc. (NASDAQ:INVA)

Entropy Technologies LP purchased a new position in shares of Innoviva, Inc. (NASDAQ:INVA - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 14,298 shares of the biotechnology company's stock, valued at approximately $248,000.

Several other large investors have also added to or reduced their stakes in the company. Martingale Asset Management L P lifted its holdings in shares of Innoviva by 0.7% in the 3rd quarter. Martingale Asset Management L P now owns 77,842 shares of the biotechnology company's stock valued at $1,503,000 after buying an additional 550 shares during the period. US Bancorp DE lifted its holdings in Innoviva by 24.5% in the third quarter. US Bancorp DE now owns 2,875 shares of the biotechnology company's stock valued at $56,000 after acquiring an additional 566 shares during the period. FMR LLC boosted its position in Innoviva by 8.2% in the 3rd quarter. FMR LLC now owns 10,119 shares of the biotechnology company's stock worth $195,000 after purchasing an additional 771 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in shares of Innoviva by 10.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 13,274 shares of the biotechnology company's stock worth $230,000 after purchasing an additional 1,241 shares during the period. Finally, KBC Group NV increased its holdings in shares of Innoviva by 73.9% during the 4th 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. Hedge funds and other institutional investors own 99.12% of the company's stock.

Innoviva Price Performance

Shares of Innoviva stock traded down $0.14 on Monday, hitting $18.08. The company's stock had a trading volume of 263,826 shares, compared to its average volume of 575,875. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 26.20 and a beta of 0.55. The firm has a fifty day moving average price of $18.11 and a 200-day moving average price of $18.88. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.64 and a current ratio of 1.79. Innoviva, Inc. has a 1 year low of $14.32 and a 1 year high of $21.28.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Innoviva from a "buy" rating to a "hold" rating in a report on Thursday.

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.