SG Americas Securities LLC Lowers Position in Innoviva, Inc. (NASDAQ:INVA)

SG Americas Securities LLC decreased its holdings in Innoviva, Inc. (NASDAQ:INVA - Free Report) by 84.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,759 shares of the biotechnology company's stock after selling 68,741 shares during the quarter. SG Americas Securities LLC's holdings in Innoviva were worth $246,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of INVA. Dimensional Fund Advisors LP grew its holdings in shares of Innoviva by 1.5% in the second quarter. Dimensional Fund Advisors LP now owns 4,684,594 shares of the biotechnology company's stock worth $76,826,000 after acquiring an additional 71,336 shares during the period. American Century Companies Inc. grew its stake in shares of Innoviva by 369.6% during the 2nd quarter. American Century Companies Inc. now owns 459,690 shares of the biotechnology company's stock valued at $7,539,000 after purchasing an additional 361,797 shares during the period. Denali Advisors LLC increased its position in shares of Innoviva by 34.9% during the 2nd quarter. Denali Advisors LLC now owns 439,786 shares of the biotechnology company's stock valued at $7,212,000 after purchasing an additional 113,700 shares during the last quarter. Boston Partners lifted its stake in shares of Innoviva by 90.3% in the 1st quarter. Boston Partners now owns 391,456 shares of the biotechnology company's stock worth $5,966,000 after purchasing an additional 185,784 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in shares of Innoviva by 0.3% in the first quarter. Principal Financial Group Inc. now owns 323,991 shares of the biotechnology company's stock worth $4,938,000 after buying an additional 1,121 shares during the last quarter. Institutional investors own 99.12% of the company's stock.

Wall Street Analyst Weigh In

INVA has been the subject of a number of research reports. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Innoviva in a report on Tuesday, July 30th. StockNews.com lowered Innoviva from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, August 6th.

Innoviva Stock Performance

Innoviva stock traded up $0.12 during midday trading on Tuesday, hitting $19.97. The stock had a trading volume of 325,899 shares, compared to its average volume of 577,854. Innoviva, Inc. has a 52-week low of $12.22 and a 52-week high of $20.37. The company has a market capitalization of $1.25 billion, a PE ratio of 9.00 and a beta of 0.57. The firm's fifty day moving average is $19.33 and its two-hundred day moving average is $17.34. The company has a current ratio of 12.70, a quick ratio of 11.40 and a debt-to-equity ratio of 0.67.

Innoviva (NASDAQ:INVA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The biotechnology company reported $0.68 EPS for the quarter. Innoviva had a net margin of 44.00% and a return on equity of 33.26%. The firm had revenue of $99.90 million for the quarter. On average, research analysts forecast that Innoviva, Inc. will post 0.5 EPS for the current year.

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.