JPMorgan Chase & Co. Acquires 72,039 Shares of Innoviva, Inc. (NASDAQ:INVA)

JPMorgan Chase & Co. grew its stake in shares of Innoviva, Inc. (NASDAQ:INVA - Free Report) by 14.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 578,243 shares of the biotechnology company's stock after acquiring an additional 72,039 shares during the quarter. JPMorgan Chase & Co. owned about 0.92% of Innoviva worth $11,166,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. US Bancorp DE lifted its holdings in Innoviva by 24.5% during 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 in the last quarter. GAMMA Investing LLC lifted its holdings in Innoviva by 18.5% during 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 in the last quarter. FMR LLC lifted its holdings in Innoviva by 8.2% during the third quarter. FMR LLC now owns 10,119 shares of the biotechnology company's stock valued at $195,000 after purchasing an additional 771 shares in the last quarter. Evergreen Capital Management LLC lifted its holdings in Innoviva by 10.9% during the second quarter. Evergreen Capital Management LLC now owns 12,321 shares of the biotechnology company's stock valued at $202,000 after purchasing an additional 1,209 shares in the last quarter. Finally, Walleye Capital LLC purchased a new position in Innoviva during the third quarter valued at approximately $214,000. Hedge funds and other institutional investors own 99.12% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Innoviva from a "buy" rating to a "hold" rating in a report on Tuesday, December 31st.

Innoviva Price Performance

Shares of Innoviva stock traded up $0.28 on Monday, hitting $17.56. 570,059 shares of the company traded hands, compared to its average volume of 497,680. The stock has a market capitalization of $1.10 billion, a P/E ratio of 25.45 and a beta of 0.54. 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 52 week low of $14.32 and a 52 week high of $21.28. The business has a 50-day simple moving average of $18.60 and a 200 day simple moving average of $18.68.

Innoviva (NASDAQ:INVA - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.25). The company had revenue of $89.51 million for the quarter. Innoviva had a net margin of 18.31% and a return on equity of 20.84%. Research analysts expect that Innoviva, Inc. will post 0.33 earnings per share for the current fiscal year.

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.