UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Stock Position in Innoviva, Inc. (NASDAQ:INVA)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its stake in shares of Innoviva, Inc. (NASDAQ:INVA) by 14.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 131,449 shares of the biotechnology company’s stock after selling 22,961 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Innoviva were worth $2,538,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. EdgeRock Capital LLC purchased a new position in Innoviva in the 2nd quarter worth approximately $31,000. Innealta Capital LLC bought a new stake in shares of Innoviva in the 2nd quarter worth $33,000. US Bancorp DE raised its stake in shares of Innoviva by 24.5% in 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 lifted its holdings in shares of Innoviva by 18.5% during the third quarter. GAMMA Investing LLC now owns 4,119 shares of the biotechnology company’s stock valued at $80,000 after purchasing an additional 643 shares in the last quarter. Finally, FMR LLC boosted its position in shares of Innoviva by 8.2% during the third quarter. FMR LLC now owns 10,119 shares of the biotechnology company’s stock valued at $195,000 after buying an additional 771 shares during the last quarter. 99.12% of the stock is owned by institutional investors.

Innoviva Price Performance

INVA opened at $18.58 on Friday. 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’s 50-day simple moving average is $19.47 and its two-hundred day simple moving average is $18.43. Innoviva, Inc. has a 52-week low of $14.32 and a 52-week high of $21.28. The stock has a market capitalization of $1.16 billion, a P/E ratio of 26.93 and a beta of 0.53.

Innoviva (NASDAQ:INVA) last posted its quarterly earnings data 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 net margin of 18.31% and a return on equity of 20.84%. The firm had revenue of $89.51 million for the quarter. As a group, analysts predict that Innoviva, Inc. will post 0.33 EPS for the current 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.