Denali Advisors LLC Buys 113,700 Shares of Innoviva, Inc. (NASDAQ:INVA)

Denali Advisors LLC lifted its position in Innoviva, Inc. (NASDAQ:INVA - Free Report) by 34.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 439,786 shares of the biotechnology company's stock after acquiring an additional 113,700 shares during the quarter. Innoviva accounts for approximately 2.0% of Denali Advisors LLC's holdings, making the stock its largest position. Denali Advisors LLC owned 0.70% of Innoviva worth $7,212,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Westfield Capital Management Co. LP boosted its holdings in Innoviva by 27.8% in the fourth quarter. Westfield Capital Management Co. LP now owns 2,614,127 shares of the biotechnology company's stock worth $41,931,000 after purchasing an additional 569,117 shares during the period. American Century Companies Inc. boosted its position in Innoviva by 369.6% during the 2nd quarter. American Century Companies Inc. now owns 459,690 shares of the biotechnology company's stock worth $7,539,000 after acquiring an additional 361,797 shares during the period. CWA Asset Management Group LLC acquired a new position in Innoviva during the 4th quarter worth $4,070,000. Boston Partners increased its holdings in shares of Innoviva by 90.3% during the first quarter. Boston Partners now owns 391,456 shares of the biotechnology company's stock valued at $5,966,000 after purchasing an additional 185,784 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Innoviva by 17.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 933,259 shares of the biotechnology company's stock valued at $14,969,000 after purchasing an additional 135,456 shares during the period. 99.12% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. StockNews.com cut Innoviva from a "strong-buy" rating to a "buy" rating in a report on Tuesday, August 6th. Cantor Fitzgerald restated an "overweight" rating on shares of Innoviva in a report on Tuesday, July 30th.

Innoviva Trading Down 1.6 %

NASDAQ INVA traded down $0.33 on Tuesday, hitting $19.71. 506,045 shares of the stock were exchanged, compared to its average volume of 580,922. The company's 50-day moving average price is $18.48 and its two-hundred day moving average price is $16.52. The company has a debt-to-equity ratio of 0.67, a current ratio of 12.70 and a quick ratio of 11.40. Innoviva, Inc. has a 52-week low of $12.22 and a 52-week high of $20.19. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 8.95 and a beta of 0.57.

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