Redwood Investment Management LLC Sells 41,852 Shares of Innoviva, Inc. (NASDAQ:INVA)

Redwood Investment Management LLC cut its holdings in Innoviva, Inc. (NASDAQ:INVA - Free Report) by 22.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 140,912 shares of the biotechnology company's stock after selling 41,852 shares during the period. Redwood Investment Management LLC owned about 0.23% of Innoviva worth $2,722,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. American Century Companies Inc. grew its holdings in Innoviva by 369.6% during the second 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. Marshall Wace LLP grew its holdings in Innoviva by 823.3% during the second quarter. Marshall Wace LLP now owns 204,752 shares of the biotechnology company's stock valued at $3,358,000 after purchasing an additional 182,575 shares during the period. Squarepoint Ops LLC bought a new position in Innoviva during the second quarter valued at $2,198,000. Denali Advisors LLC grew its holdings in Innoviva by 34.9% during the second 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 period. Finally, Caxton Associates LP grew its holdings in Innoviva by 204.5% during the second quarter. Caxton Associates LP now owns 108,277 shares of the biotechnology company's stock valued at $1,776,000 after purchasing an additional 72,716 shares during the period. 99.12% of the stock is owned by institutional investors.

Innoviva Stock Performance

NASDAQ INVA traded up $0.05 on Thursday, hitting $18.92. 352,918 shares of the stock traded hands, compared to its average volume of 591,756. The business's fifty day moving average is $19.55 and its two-hundred day moving average is $18.29. Innoviva, Inc. has a 12 month low of $14.25 and a 12 month high of $21.28. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 27.42 and a beta of 0.53. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.64 and a current ratio of 1.79.

Innoviva (NASDAQ:INVA - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.27 by ($0.25). Innoviva had a return on equity of 20.84% and a net margin of 18.31%. The company had revenue of $89.51 million during the quarter. As a group, equities analysts anticipate that Innoviva, Inc. will post 0.33 EPS for the current fiscal 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.