Exchange Traded Concepts LLC Has $2.99 Million Holdings in Innoviva, Inc. (NASDAQ:INVA)

Exchange Traded Concepts LLC decreased its stake in shares of Innoviva, Inc. (NASDAQ:INVA - Free Report) by 15.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 154,785 shares of the biotechnology company's stock after selling 27,754 shares during the period. Exchange Traded Concepts LLC owned 0.25% of Innoviva worth $2,989,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. SageView Advisory Group LLC acquired a new position in Innoviva during the 1st quarter worth $1,555,000. Boston Partners grew its holdings in Innoviva by 90.3% in the 1st quarter. Boston Partners now owns 391,456 shares of the biotechnology company's stock valued at $5,966,000 after buying an additional 185,784 shares during the last quarter. O Shaughnessy Asset Management LLC grew its holdings in Innoviva by 108.8% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 73,066 shares of the biotechnology company's stock valued at $1,114,000 after buying an additional 38,080 shares during the last quarter. Victory Capital Management Inc. increased its position in Innoviva by 63.1% in the 2nd quarter. Victory Capital Management Inc. now owns 135,755 shares of the biotechnology company's stock worth $2,226,000 after buying an additional 52,523 shares during the period. Finally, BOKF NA boosted its position in shares of Innoviva by 180.5% in the second quarter. BOKF NA now owns 46,377 shares of the biotechnology company's stock valued at $761,000 after acquiring an additional 29,846 shares during the period. 99.12% of the stock is owned by institutional investors.

Innoviva Stock Performance

Shares of NASDAQ:INVA traded down $0.01 during trading on Tuesday, hitting $19.88. 344,524 shares of the stock were exchanged, compared to its average volume of 584,639. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of 8.95 and a beta of 0.57. The company has a debt-to-equity ratio of 0.67, a quick ratio of 11.40 and a current ratio of 12.70. Innoviva, Inc. has a 1-year low of $12.22 and a 1-year high of $20.19. The company's fifty day simple moving average is $19.15 and its 200-day simple moving average is $17.16.

Innoviva (NASDAQ:INVA - Get Free Report) last issued its earnings results on Wednesday, July 31st. The biotechnology company reported $0.68 earnings per share 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. Sell-side analysts expect that Innoviva, Inc. will post 0.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on INVA. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Innoviva in a research report on Tuesday, July 30th. StockNews.com downgraded shares of Innoviva from a "strong-buy" rating to a "buy" rating in a report on Tuesday, August 6th.

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.