Everence Capital Management Inc. Sells 1,010 Shares of Innoviva, Inc. (NASDAQ:INVA)

Everence Capital Management Inc. decreased its position in Innoviva, Inc. (NASDAQ:INVA) by 8.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,960 shares of the biotechnology company’s stock after selling 1,010 shares during the quarter. Everence Capital Management Inc.’s holdings in Innoviva were worth $190,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of INVA. US Bancorp DE lifted its holdings in shares of Innoviva by 24.5% in the 3rd quarter. US Bancorp DE now owns 2,875 shares of the biotechnology company’s stock worth $56,000 after acquiring an additional 566 shares during the last quarter. GAMMA Investing LLC raised its position in Innoviva by 18.5% in the 3rd 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 stake in Innoviva by 8.2% in the third quarter. FMR LLC now owns 10,119 shares of the biotechnology company’s stock worth $195,000 after purchasing an additional 771 shares during the last quarter. Walleye Capital LLC purchased a new stake in Innoviva during the third quarter valued at about $214,000. Finally, World Investment Advisors LLC bought a new position in shares of Innoviva during the third quarter valued at about $217,000. Hedge funds and other institutional investors own 99.12% of the company’s stock.

Innoviva Trading Up 0.2 %

NASDAQ INVA opened at $17.31 on Friday. Innoviva, Inc. has a fifty-two week low of $14.32 and a fifty-two week high of $21.28. 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 stock has a 50 day simple moving average of $18.69 and a two-hundred day simple moving average of $18.64. The stock has a market cap of $1.08 billion, a P/E ratio of 25.09 and a beta of 0.54.

Innoviva (NASDAQ:INVA) last announced its 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 net margin of 18.31% and a return on equity of 20.84%. The business had revenue of $89.51 million for the quarter. On average, analysts forecast that Innoviva, Inc. will post 0.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Innoviva from a “buy” rating to a “hold” rating in a research note on Tuesday, December 31st.

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.