Innoviva, Inc. (NASDAQ:INVA) Short Interest Update

Innoviva, Inc. (NASDAQ:INVA - Get Free Report) was the recipient of a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 8,810,000 shares, a decrease of 10.2% from the January 15th total of 9,810,000 shares. Based on an average daily trading volume, of 680,800 shares, the short-interest ratio is presently 12.9 days. Approximately 14.2% of the company's stock are short sold.

Institutional Investors Weigh In On Innoviva

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Innoviva by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 6,312,631 shares of the biotechnology company's stock valued at $109,524,000 after purchasing an additional 84,934 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Innoviva by 4.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,919,518 shares of the biotechnology company's stock valued at $85,354,000 after buying an additional 226,592 shares during the last quarter. Pacer Advisors Inc. raised its stake in Innoviva by 4.3% during the 4th quarter. Pacer Advisors Inc. now owns 2,932,113 shares of the biotechnology company's stock worth $50,872,000 after acquiring an additional 121,162 shares in the last quarter. Systematic Financial Management LP lifted its position in Innoviva by 2.5% in the fourth quarter. Systematic Financial Management LP now owns 2,029,069 shares of the biotechnology company's stock valued at $35,204,000 after acquiring an additional 49,996 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in Innoviva by 35.2% in the fourth quarter. American Century Companies Inc. now owns 1,424,315 shares of the biotechnology company's stock valued at $24,712,000 after acquiring an additional 370,795 shares in the last quarter. Institutional investors and hedge funds own 99.12% of the company's stock.

Analyst Ratings Changes

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

Innoviva Stock Up 0.1 %

NASDAQ:INVA traded up $0.01 during trading hours on Friday, hitting $18.08. The company's stock had a trading volume of 360,035 shares, compared to its average volume of 525,133. The stock has a market capitalization of $1.13 billion, a P/E ratio of 26.20 and a beta of 0.55. 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 stock has a fifty day moving average of $18.07 and a 200-day moving average of $18.86. Innoviva has a 52-week low of $14.32 and a 52-week high of $21.28.

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.