Los Angeles Capital Management LLC Decreases Stock Holdings in Innoviva, Inc. (NASDAQ:INVA)

Los Angeles Capital Management LLC trimmed its position in Innoviva, Inc. (NASDAQ:INVA) by 14.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 136,194 shares of the biotechnology company’s stock after selling 22,464 shares during the quarter. Los Angeles Capital Management LLC owned 0.22% of Innoviva worth $2,076,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in INVA. Barclays PLC increased its stake in shares of Innoviva by 17.1% in the third quarter. Barclays PLC now owns 40,957 shares of the biotechnology company’s stock worth $531,000 after buying an additional 5,995 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Innoviva by 16.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 797,803 shares of the biotechnology company’s stock valued at $10,363,000 after acquiring an additional 115,009 shares in the last quarter. UBS Group AG boosted its holdings in Innoviva by 223.8% in the third quarter. UBS Group AG now owns 626,355 shares of the biotechnology company’s stock valued at $8,136,000 after acquiring an additional 432,940 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Innoviva by 2.7% in the third quarter. PNC Financial Services Group Inc. now owns 46,109 shares of the biotechnology company’s stock valued at $599,000 after acquiring an additional 1,234 shares in the last quarter. Finally, QRG Capital Management Inc. bought a new stake in Innoviva in the third quarter valued at $731,000. 99.12% of the stock is owned by hedge funds and other institutional investors.

Innoviva Stock Performance

Shares of INVA stock opened at $15.90 on Friday. Innoviva, Inc. has a 12 month low of $12.22 and a 12 month high of $16.86. The stock has a market cap of $992.80 million, a PE ratio of 7.16 and a beta of 0.58. The company has a current ratio of 10.42, a quick ratio of 9.17 and a debt-to-equity ratio of 0.63. The company’s fifty day moving average price is $15.62 and its 200-day moving average price is $15.61.

Innoviva (NASDAQ:INVA) last announced its earnings results on Wednesday, May 8th. The biotechnology company reported $0.46 EPS for the quarter. Innoviva had a net margin of 58.21% and a return on equity of 28.94%. The firm had revenue of $77.50 million for the quarter. On average, equities analysts expect that Innoviva, Inc. will post 1.09 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. TheStreet upgraded shares of Innoviva from a “c” rating to a “b-” rating in a report on Thursday, February 29th. Cantor Fitzgerald began coverage on shares of Innoviva in a report on Tuesday. They issued an “overweight” rating on the stock. Finally, StockNews.com upgraded shares of Innoviva from a “hold” rating to a “buy” rating in a report on Friday, March 29th.

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.