Hussman Strategic Advisors Inc. Acquires 42,000 Shares of Innoviva, Inc. (NASDAQ:INVA)

Hussman Strategic Advisors Inc. boosted its stake in Innoviva, Inc. (NASDAQ:INVA - Free Report) by 33.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 168,000 shares of the biotechnology company's stock after acquiring an additional 42,000 shares during the quarter. Innoviva accounts for 0.9% of Hussman Strategic Advisors Inc.'s portfolio, making the stock its 22nd largest position. Hussman Strategic Advisors Inc. owned approximately 0.27% of Innoviva worth $2,915,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in INVA. Creative Planning raised its stake in shares of Innoviva by 21.1% in the 3rd quarter. Creative Planning now owns 26,780 shares of the biotechnology company's stock valued at $517,000 after purchasing an additional 4,669 shares during the period. Semanteon Capital Management LP grew its holdings in shares of Innoviva by 88.5% during the third quarter. Semanteon Capital Management LP now owns 47,247 shares of the biotechnology company's stock worth $912,000 after buying an additional 22,181 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in Innoviva by 64.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 12,033 shares of the biotechnology company's stock valued at $232,000 after buying an additional 4,698 shares during the last quarter. First Trust Direct Indexing L.P. lifted its stake in Innoviva by 18.4% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 12,013 shares of the biotechnology company's stock valued at $232,000 after acquiring an additional 1,868 shares in the last quarter. Finally, US Bancorp DE boosted its position in Innoviva by 24.5% during the 3rd quarter. US Bancorp DE now owns 2,875 shares of the biotechnology company's stock worth $56,000 after acquiring an additional 566 shares during the last quarter. 99.12% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Innoviva from a "buy" rating to a "hold" rating in a report on Thursday, February 13th.

Innoviva Stock Up 0.1 %

Shares of NASDAQ INVA traded up $0.01 during trading hours on Friday, hitting $18.08. The company had a trading volume of 360,035 shares, compared to its average volume of 530,086. The stock has a market capitalization of $1.13 billion, a P/E ratio of 26.20 and a beta of 0.55. Innoviva, Inc. has a 1-year low of $14.32 and a 1-year high of $21.28. The firm's 50 day moving average is $18.06 and its 200-day moving average is $18.86. The company has a quick ratio of 1.64, a current ratio of 1.79 and a debt-to-equity ratio of 0.38.

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.