Exchange Traded Concepts LLC Boosts Stake in Innoviva, Inc. (NASDAQ:INVA)

Exchange Traded Concepts LLC raised its stake in shares of Innoviva, Inc. (NASDAQ:INVA) by 4.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 162,005 shares of the biotechnology company’s stock after purchasing an additional 7,220 shares during the period. Exchange Traded Concepts LLC’s holdings in Innoviva were worth $2,811,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Barclays PLC raised its position in shares of Innoviva by 254.2% in the third quarter. Barclays PLC now owns 100,594 shares of the biotechnology company’s stock valued at $1,942,000 after buying an additional 72,192 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of Innoviva by 46.4% during the 3rd quarter. Jane Street Group LLC now owns 136,361 shares of the biotechnology company’s stock worth $2,633,000 after acquiring an additional 43,218 shares during the period. FMR LLC boosted its holdings in 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 purchasing an additional 771 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new position in Innoviva in the third quarter worth approximately $715,000. Finally, Victory Capital Management Inc. grew its holdings in shares of Innoviva by 3.5% during the 3rd quarter. Victory Capital Management Inc. now owns 140,454 shares of the biotechnology company’s stock worth $2,712,000 after purchasing an additional 4,699 shares during the period. 99.12% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Innoviva Trading Up 0.7 %

NASDAQ INVA opened at $18.70 on Friday. The firm has a 50 day moving average of $18.32 and a two-hundred day moving average of $18.80. The stock has a market capitalization of $1.17 billion, a PE ratio of 27.10 and a beta of 0.54. Innoviva, Inc. has a 52 week low of $14.32 and a 52 week 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.

Innoviva (NASDAQ:INVA) last announced its earnings results on Wednesday, November 6th. The biotechnology company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates 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, research analysts expect that Innoviva, Inc. will post 0.33 EPS for the current fiscal 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.