Innoviva, Inc. (NASDAQ:INVA) Shares Sold by State Street Corp

State Street Corp decreased its stake in shares of Innoviva, Inc. (NASDAQ:INVA) by 0.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,450,634 shares of the biotechnology company’s stock after selling 17,860 shares during the quarter. State Street Corp owned approximately 3.92% of Innoviva worth $47,322,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Innoviva during the second quarter worth approximately $167,000. EdgeRock Capital LLC purchased a new stake in shares of Innoviva in the 2nd quarter valued at approximately $31,000. Innealta Capital LLC acquired a new stake in shares of Innoviva in the 2nd quarter valued at $33,000. Ritholtz Wealth Management lifted its position in shares of Innoviva by 68.3% during the 2nd quarter. Ritholtz Wealth Management now owns 58,425 shares of the biotechnology company’s stock worth $958,000 after purchasing an additional 23,718 shares during the last quarter. Finally, Chase Investment Counsel Corp grew its stake in shares of Innoviva by 8.1% during the second quarter. Chase Investment Counsel Corp now owns 80,000 shares of the biotechnology company’s stock worth $1,312,000 after purchasing an additional 6,000 shares in the last quarter. Institutional investors and hedge funds own 99.12% of the company’s stock.

Innoviva Stock Performance

NASDAQ:INVA opened at $17.93 on Friday. The firm has a market capitalization of $1.12 billion, a PE 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’s fifty day moving average price is $19.38 and its 200 day moving average price is $18.49. Innoviva, Inc. has a 12 month low of $14.32 and a 12 month high of $21.28.

Innoviva (NASDAQ:INVA) last issued its earnings results 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 business had revenue of $89.51 million for the quarter. Innoviva had a return on equity of 20.84% and a net margin of 18.31%. On average, sell-side analysts anticipate that Innoviva, Inc. will post 0.33 earnings per share for the current fiscal 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.