Innoviva, Inc. (NASDAQ:INVA) Short Interest Update

Innoviva, Inc. (NASDAQ:INVA) saw a large decrease in short interest in the month of January. As of January 31st, there was short interest totalling 8,810,000 shares, a decrease of 10.2% from the January 15th total of 9,810,000 shares. Currently, 14.2% of the shares of the stock are short sold. Based on an average trading volume of 680,800 shares, the short-interest ratio is currently 12.9 days.

Innoviva Price Performance

NASDAQ:INVA traded down $0.14 on Monday, hitting $18.08. The company had a trading volume of 263,826 shares, compared to its average volume of 575,875. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of 26.20 and a beta of 0.55. The company has a current ratio of 1.79, a quick ratio of 1.64 and a debt-to-equity ratio of 0.38. The firm has a 50 day moving average of $18.11 and a two-hundred day moving average of $18.88. Innoviva has a 52 week low of $14.32 and a 52 week high of $21.28.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Innoviva from a “buy” rating to a “hold” rating in a report on Thursday.

Hedge Funds Weigh In On Innoviva

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. American Century Companies Inc. increased its position in Innoviva by 35.2% in the 4th quarter. American Century Companies Inc. now owns 1,424,315 shares of the biotechnology company’s stock valued at $24,712,000 after acquiring an additional 370,795 shares during the period. Millennium Management LLC increased its position in Innoviva by 426.4% in the 4th quarter. Millennium Management LLC now owns 400,613 shares of the biotechnology company’s stock valued at $6,951,000 after acquiring an additional 324,515 shares during the period. Hsbc Holdings PLC acquired a new position in Innoviva in the 4th quarter valued at approximately $5,437,000. Jefferies Financial Group Inc. increased its position in Innoviva by 355.8% in the 4th quarter. Jefferies Financial Group Inc. now owns 296,238 shares of the biotechnology company’s stock valued at $5,140,000 after acquiring an additional 231,238 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Innoviva by 4.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,919,518 shares of the biotechnology company’s stock valued at $85,354,000 after acquiring an additional 226,592 shares during the period. Institutional investors own 99.12% of the company’s stock.

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.