Systematic Financial Management LP Increases Position in Innoviva, Inc. (NASDAQ:INVA)

Systematic Financial Management LP raised its position in Innoviva, Inc. (NASDAQ:INVA - Free Report) by 4.7% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,979,073 shares of the biotechnology company's stock after purchasing an additional 89,633 shares during the period. Innoviva accounts for approximately 1.0% of Systematic Financial Management LP's portfolio, making the stock its 21st biggest holding. Systematic Financial Management LP owned approximately 3.16% of Innoviva worth $38,216,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. EdgeRock Capital LLC acquired a new position in Innoviva during the second quarter worth $31,000. Innealta Capital LLC purchased a new stake in shares of Innoviva in the second quarter valued at about $33,000. US Bancorp DE increased its position in Innoviva by 24.5% during the third quarter. US Bancorp DE now owns 2,875 shares of the biotechnology company's stock worth $56,000 after purchasing an additional 566 shares during the last quarter. GAMMA Investing LLC raised its stake in Innoviva by 53.7% during the second quarter. GAMMA Investing LLC now owns 3,476 shares of the biotechnology company's stock worth $57,000 after purchasing an additional 1,214 shares during the period. Finally, FMR LLC boosted its holdings in Innoviva by 8.2% in the 3rd quarter. FMR LLC now owns 10,119 shares of the biotechnology company's stock valued at $195,000 after purchasing an additional 771 shares during the last quarter. Institutional investors and hedge funds own 99.12% of the company's stock.

Innoviva Trading Up 0.5 %

Shares of NASDAQ INVA traded up $0.09 during midday trading on Thursday, reaching $18.96. 166,395 shares of the stock were exchanged, compared to its average volume of 590,913. The stock has a market capitalization of $1.19 billion, a P/E ratio of 27.35 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. The company has a 50 day simple moving average of $19.55 and a 200 day simple moving average of $18.28. Innoviva, Inc. has a twelve month low of $14.25 and a twelve month high of $21.28.

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