HighTower Advisors LLC Lowers Stock Position in Innoviva, Inc. (NASDAQ:INVA)

HighTower Advisors LLC trimmed its stake in Innoviva, Inc. (NASDAQ:INVA) by 16.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 31,968 shares of the biotechnology company’s stock after selling 6,142 shares during the period. HighTower Advisors LLC’s holdings in Innoviva were worth $628,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in INVA. Martingale Asset Management L P increased its holdings in Innoviva by 0.7% in the 3rd quarter. Martingale Asset Management L P now owns 77,842 shares of the biotechnology company’s stock valued at $1,503,000 after purchasing an additional 550 shares during the last quarter. US Bancorp DE boosted its position in shares of 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 buying an additional 566 shares during the period. GAMMA Investing LLC grew its stake in shares of Innoviva by 18.5% in the third quarter. GAMMA Investing LLC now owns 4,119 shares of the biotechnology company’s stock valued at $80,000 after buying an additional 643 shares in the last quarter. FMR LLC raised its holdings in shares of 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 buying an additional 771 shares during the period. Finally, Evergreen Capital Management LLC lifted its stake in Innoviva by 10.9% during the 2nd quarter. Evergreen Capital Management LLC now owns 12,321 shares of the biotechnology company’s stock worth $202,000 after acquiring an additional 1,209 shares in the last quarter. 99.12% of the stock is currently owned by institutional investors and hedge funds.

Innoviva Stock Performance

Shares of Innoviva stock opened at $17.93 on Friday. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 25.99 and a beta of 0.53. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.79 and a quick ratio of 1.64. The business has a 50-day moving average of $19.38 and a 200 day moving average of $18.49. Innoviva, Inc. has a 12 month low of $14.32 and a 12 month high of $21.28.

Innoviva (NASDAQ:INVA) last posted its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.25). The business 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%. As a group, sell-side analysts forecast 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.