Quantbot Technologies LP Purchases 16,801 Shares of Innoviva, Inc. (NASDAQ:INVA)

Quantbot Technologies LP boosted its position in Innoviva, Inc. (NASDAQ:INVA) by 171.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,599 shares of the biotechnology company’s stock after purchasing an additional 16,801 shares during the period. Quantbot Technologies LP’s holdings in Innoviva were worth $514,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. American Century Companies Inc. lifted its stake in shares of Innoviva by 369.6% during the 2nd quarter. American Century Companies Inc. now owns 459,690 shares of the biotechnology company’s stock worth $7,539,000 after acquiring an additional 361,797 shares during the last quarter. Marshall Wace LLP boosted its stake 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 purchasing an additional 182,575 shares during the period. Squarepoint Ops LLC bought a new position in shares of Innoviva in the second quarter worth about $2,198,000. Denali Advisors LLC increased its stake in 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 buying an additional 113,700 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its holdings in Innoviva by 394.0% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 94,895 shares of the biotechnology company’s stock valued at $1,556,000 after buying an additional 75,685 shares in the last quarter. Hedge funds and other institutional investors own 99.12% of the company’s stock.

Innoviva Price Performance

Shares of INVA stock opened at $18.99 on Wednesday. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 27.52 and a beta of 0.53. The company has a current ratio of 1.79, a quick ratio of 1.64 and a debt-to-equity ratio of 0.38. Innoviva, Inc. has a twelve month low of $13.94 and a twelve month high of $21.28. The stock has a fifty day simple moving average of $19.55 and a two-hundred day simple moving average of $18.28.

Innoviva (NASDAQ:INVA) last issued 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. On average, analysts predict that Innoviva, Inc. will post 0.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Innoviva from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 6th.

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.