Wellington Management Group LLP Sells 42,739 Shares of Innoviva, Inc. (NASDAQ:INVA)

Wellington Management Group LLP reduced its stake in Innoviva, Inc. (NASDAQ:INVA - Free Report) by 60.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,166 shares of the biotechnology company's stock after selling 42,739 shares during the period. Wellington Management Group LLP's holdings in Innoviva were worth $544,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. American Century Companies Inc. boosted its stake in Innoviva by 369.6% in the 2nd quarter. American Century Companies Inc. now owns 459,690 shares of the biotechnology company's stock valued at $7,539,000 after buying an additional 361,797 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of 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 acquiring an additional 182,575 shares during the period. Squarepoint Ops LLC acquired a new stake in shares of Innoviva in the 2nd quarter valued at $2,198,000. Denali Advisors LLC grew its holdings in shares of Innoviva by 34.9% in the 2nd quarter. Denali Advisors LLC now owns 439,786 shares of the biotechnology company's stock worth $7,212,000 after purchasing an additional 113,700 shares during the last quarter. Finally, Systematic Financial Management LP grew its holdings in shares of Innoviva by 4.7% in the 3rd quarter. Systematic Financial Management LP now owns 1,979,073 shares of the biotechnology company's stock worth $38,216,000 after purchasing an additional 89,633 shares during the last quarter. 99.12% of the stock is currently owned by institutional investors.

Innoviva Price Performance

INVA stock traded down $0.09 during trading on Friday, hitting $17.84. 2,400,707 shares of the stock traded hands, compared to its average volume of 599,946. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 25.86 and a beta of 0.53. Innoviva, Inc. has a one year low of $14.32 and a one year high of $21.28. The company has a current ratio of 1.79, a quick ratio of 1.64 and a debt-to-equity ratio of 0.38. The company has a 50 day simple moving average of $19.31 and a 200 day simple moving average of $18.50.

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 analysts' consensus estimates of $0.27 by ($0.25). The firm had revenue of $89.51 million during the quarter. Innoviva had a net margin of 18.31% and a return on equity of 20.84%. Equities analysts expect that Innoviva, Inc. will post 0.33 EPS for the current fiscal year.

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.