Fmr LLC lowered its position in shares of Innoviva Inc (NASDAQ:INVA) by 69.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,687,293 shares of the biotechnology company’s stock after selling 6,073,058 shares during the quarter. Fmr LLC owned approximately 2.64% of Innoviva worth $37,085,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. SG Americas Securities LLC bought a new stake in shares of Innoviva in the 1st quarter valued at approximately $113,000. Prudential Financial Inc. lifted its stake in shares of Innoviva by 80.8% in the 1st quarter. Prudential Financial Inc. now owns 215,921 shares of the biotechnology company’s stock valued at $3,599,000 after purchasing an additional 96,490 shares during the last quarter. Swiss National Bank lifted its stake in shares of Innoviva by 5.9% in the 1st quarter. Swiss National Bank now owns 133,100 shares of the biotechnology company’s stock valued at $2,219,000 after purchasing an additional 7,400 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in shares of Innoviva by 1.0% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 422,680 shares of the biotechnology company’s stock valued at $7,047,000 after purchasing an additional 4,230 shares during the last quarter. Finally, Aperio Group LLC lifted its stake in shares of Innoviva by 31.5% in the 1st quarter. Aperio Group LLC now owns 32,673 shares of the biotechnology company’s stock valued at $545,000 after purchasing an additional 7,821 shares during the last quarter. Institutional investors and hedge funds own 72.70% of the company’s stock.

Several brokerages have recently weighed in on INVA. Stifel Nicolaus reiterated a “hold” rating and issued a $16.00 price target on shares of Innoviva in a report on Monday, June 25th. Zacks Investment Research upgraded Innoviva from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 26th. ValuEngine downgraded Innoviva from a “hold” rating to a “sell” rating in a report on Tuesday, June 26th. Finally, BidaskClub upgraded Innoviva from a “sell” rating to a “hold” rating in a report on Thursday, September 6th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. Innoviva has an average rating of “Hold” and an average target price of $13.67.

In other Innoviva news, VP Theodore J. Jr. Witek sold 8,504 shares of the firm’s stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $14.12, for a total transaction of $120,076.48. Following the transaction, the vice president now directly owns 256,271 shares in the company, valued at approximately $3,618,546.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.60% of the company’s stock.

Shares of NASDAQ INVA opened at $15.32 on Friday. The company has a current ratio of 26.39, a quick ratio of 26.39 and a debt-to-equity ratio of -3.13. Innoviva Inc has a fifty-two week low of $11.47 and a fifty-two week high of $17.99. The company has a market capitalization of $1.53 billion, a PE ratio of 13.09 and a beta of 2.26.

Innoviva (NASDAQ:INVA) last released its quarterly earnings data on Thursday, July 26th. The biotechnology company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.06). The firm had revenue of $67.09 million for the quarter, compared to analysts’ expectations of $68.50 million. Innoviva had a negative return on equity of 83.69% and a net margin of 70.01%. The company’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.30 earnings per share. equities research analysts anticipate that Innoviva Inc will post 1.83 earnings per share for the current year.

About Innoviva

Innoviva, Inc engages in the development and commercialization of bio-pharmaceuticals. Its portfolio of respiratory products include RELVAR/BREO ELLIPTA, (fluticasone furoate/ vilanterol, FF/VI); ANORO ELLIPTA (umeclidinium bromide/ vilanterol, UMEC/VI); and TRELEGY ELLIPTA (the combination FF/UMEC/VI).

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Institutional Ownership by Quarter for Innoviva (NASDAQ:INVA)

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