Innoviva, Inc. (NASDAQ:INVA) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP reduced its stake in shares of Innoviva, Inc. (NASDAQ:INVA) by 60.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 28,166 shares of the biotechnology company’s stock after selling 42,739 shares during the quarter. Wellington Management Group LLP’s holdings in Innoviva were worth $544,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Innealta Capital LLC bought a new position in Innoviva during the second quarter worth $33,000. US Bancorp DE raised its holdings 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 purchasing an additional 566 shares during the period. GAMMA Investing LLC raised 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 worth $80,000 after purchasing an additional 643 shares during the period. FMR LLC lifted its position in shares of Innoviva by 8.2% in the 3rd quarter. FMR LLC now owns 10,119 shares of the biotechnology company’s stock worth $195,000 after buying an additional 771 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. acquired a new position in shares of Innoviva in the 2nd quarter valued at about $167,000. Institutional investors own 99.12% of the company’s stock.

Innoviva Price Performance

INVA opened at $17.84 on Friday. The company has a quick ratio of 1.64, a current ratio of 1.79 and a debt-to-equity ratio of 0.38. The company’s 50-day moving average price is $19.31 and its 200 day moving average price is $18.50. Innoviva, Inc. has a fifty-two week low of $14.32 and a fifty-two week high of $21.28. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 25.86 and a beta of 0.53.

Innoviva (NASDAQ:INVA) last announced its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.25). Innoviva had a return on equity of 20.84% and a net margin of 18.31%. The company had revenue of $89.51 million for the quarter. As a group, sell-side analysts expect that Innoviva, Inc. will post 0.33 earnings per share for the current 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.