JPMorgan Chase & Co. Buys 72,039 Shares of Innoviva, Inc. (NASDAQ:INVA)

JPMorgan Chase & Co. increased its stake in Innoviva, Inc. (NASDAQ:INVA) by 14.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 578,243 shares of the biotechnology company’s stock after purchasing an additional 72,039 shares during the quarter. JPMorgan Chase & Co.’s holdings in Innoviva were worth $11,166,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. US Bancorp DE lifted 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 acquiring an additional 566 shares in the last quarter. GAMMA Investing LLC lifted its stake in 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 last quarter. FMR LLC lifted 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 worth $195,000 after acquiring an additional 771 shares during the last quarter. Evergreen Capital Management LLC increased its holdings in shares of Innoviva by 10.9% in the second quarter. Evergreen Capital Management LLC now owns 12,321 shares of the biotechnology company’s stock worth $202,000 after buying an additional 1,209 shares during the period. Finally, Walleye Capital LLC bought a new stake in shares of Innoviva in the 3rd quarter valued at about $214,000. Hedge funds and other institutional investors own 99.12% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Innoviva Trading Down 0.2 %

Shares of INVA opened at $17.28 on Monday. The stock has a market capitalization of $1.08 billion, a P/E ratio of 25.04 and a beta of 0.54. Innoviva, Inc. has a twelve month low of $14.32 and a twelve month high of $21.28. 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 firm has a fifty day simple moving average of $18.60 and a two-hundred day simple moving average of $18.66.

Innoviva (NASDAQ:INVA) last posted its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.25). The firm had revenue of $89.51 million for the quarter. Innoviva had a net margin of 18.31% and a return on equity of 20.84%. On average, research analysts anticipate that Innoviva, Inc. will post 0.33 EPS 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.