Los Angeles Capital Management LLC Lowers Holdings in Innoviva, Inc. (NASDAQ:INVA)

Los Angeles Capital Management LLC trimmed its position in Innoviva, Inc. (NASDAQ:INVA - Free Report) by 83.4% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 22,664 shares of the biotechnology company's stock after selling 113,530 shares during the period. Los Angeles Capital Management LLC's holdings in Innoviva were worth $372,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Texas Permanent School Fund Corp boosted its stake in Innoviva by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 49,358 shares of the biotechnology company's stock valued at $752,000 after acquiring an additional 662 shares during the last quarter. ProShare Advisors LLC boosted its stake in Innoviva by 6.2% in the first quarter. ProShare Advisors LLC now owns 16,150 shares of the biotechnology company's stock valued at $246,000 after acquiring an additional 942 shares during the last quarter. SummerHaven Investment Management LLC boosted its stake in Innoviva by 1.7% in the second quarter. SummerHaven Investment Management LLC now owns 59,853 shares of the biotechnology company's stock valued at $982,000 after acquiring an additional 980 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in shares of Innoviva by 13.2% during the 4th quarter. Quadrant Capital Group LLC now owns 9,042 shares of the biotechnology company's stock valued at $145,000 after buying an additional 1,056 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Innoviva by 0.3% during the 1st quarter. Principal Financial Group Inc. now owns 323,991 shares of the biotechnology company's stock valued at $4,938,000 after buying an additional 1,121 shares in the last quarter. 99.12% of the stock is owned by institutional investors.

Innoviva Stock Performance

Shares of INVA stock traded up $0.20 during trading on Friday, reaching $19.81. 272,976 shares of the company's stock traded hands, compared to its average volume of 428,396. The company has a market capitalization of $1.24 billion, a P/E ratio of 8.92 and a beta of 0.57. The company has a current ratio of 12.70, a quick ratio of 11.40 and a debt-to-equity ratio of 0.67. The firm's 50-day moving average is $18.41 and its 200 day moving average is $16.48. Innoviva, Inc. has a 1 year low of $12.22 and a 1 year high of $19.87.

Innoviva (NASDAQ:INVA - Get Free Report) last posted its earnings results on Wednesday, July 31st. The biotechnology company reported $0.68 earnings per share (EPS) for the quarter. Innoviva had a net margin of 44.00% and a return on equity of 33.26%. The business had revenue of $99.90 million for the quarter. Equities research analysts expect that Innoviva, Inc. will post 0.5 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on INVA shares. Cantor Fitzgerald restated an "overweight" rating on shares of Innoviva in a research note on Tuesday, July 30th. StockNews.com cut shares of Innoviva from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, August 6th.

Innoviva 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.