Assenagon Asset Management S.A. Decreases Stock Position in Innoviva, Inc. (NASDAQ:INVA)

Assenagon Asset Management S.A. trimmed its holdings in shares of Innoviva, Inc. (NASDAQ:INVA - Free Report) by 45.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 444,222 shares of the biotechnology company's stock after selling 365,986 shares during the period. Assenagon Asset Management S.A. owned approximately 0.71% of Innoviva worth $8,578,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of INVA. Wellington Management Group LLP acquired a new position in shares of Innoviva during the fourth quarter worth approximately $1,940,000. Allspring Global Investments Holdings LLC raised its holdings in Innoviva by 16.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 111,659 shares of the biotechnology company's stock worth $1,702,000 after buying an additional 15,595 shares during the last quarter. Principal Financial Group Inc. lifted its stake 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 valued at $4,938,000 after buying an additional 1,121 shares in the last quarter. Hussman Strategic Advisors Inc. grew its holdings in shares of Innoviva by 60.0% during the first quarter. Hussman Strategic Advisors Inc. now owns 168,000 shares of the biotechnology company's stock valued at $2,560,000 after buying an additional 63,000 shares during the last quarter. Finally, Jennison Associates LLC increased its position in shares of Innoviva by 83.6% during the first quarter. Jennison Associates LLC now owns 77,492 shares of the biotechnology company's stock worth $1,181,000 after acquiring an additional 35,294 shares in the last quarter. Institutional investors and hedge funds own 99.12% of the company's stock.

Analyst Ratings Changes

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

Innoviva Stock Down 0.2 %

Shares of INVA stock traded down $0.04 on Tuesday, hitting $19.89. The stock had a trading volume of 245,035 shares, compared to its average volume of 570,005. The company has a debt-to-equity ratio of 0.67, a current ratio of 12.70 and a quick ratio of 11.40. The business has a 50 day moving average of $19.47 and a 200 day moving average of $17.52. Innoviva, Inc. has a 12-month low of $12.22 and a 12-month high of $20.37. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 12.05 and a beta of 0.57.

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

Innoviva Company 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.