Innoviva, Inc. (NASDAQ:INVA) Short Interest Down 7.5% in November

Innoviva, Inc. (NASDAQ:INVA - Get Free Report) was the target of a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 10,730,000 shares, a decline of 7.5% from the November 15th total of 11,600,000 shares. Based on an average daily trading volume, of 601,600 shares, the short-interest ratio is currently 17.8 days. Currently, 17.3% of the company's stock are short sold.

Hedge Funds Weigh In On Innoviva

Several institutional investors and hedge funds have recently modified their holdings of INVA. EdgeRock Capital LLC acquired a new position in shares of Innoviva in the second quarter valued at $31,000. Innealta Capital LLC acquired a new position in shares of Innoviva in the second quarter valued at $33,000. US Bancorp DE increased its holdings in shares of 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 purchasing an additional 566 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Innoviva by 18.5% in the third quarter. GAMMA Investing LLC now owns 4,119 shares of the biotechnology company's stock valued at $80,000 after purchasing an additional 643 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. acquired a new position in shares of Innoviva in the second quarter valued at $167,000. 99.12% of the stock is currently owned by institutional investors and hedge funds.

Innoviva Stock Down 0.9 %

INVA traded down $0.16 during trading on Monday, reaching $18.42. 487,802 shares of the stock were exchanged, compared to its average volume of 590,211. The stock has a market cap of $1.15 billion, a P/E ratio of 26.93 and a beta of 0.53. Innoviva has a twelve month low of $14.32 and a twelve month high of $21.28. The stock's 50 day moving average price is $19.47 and its two-hundred day moving average price is $18.45. 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 (NASDAQ:INVA - Get Free Report) last issued its earnings results on Wednesday, November 6th. The biotechnology company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates 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 expect that Innoviva will post 0.33 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.