Exchange Traded Concepts LLC Has $2.99 Million Position in Innoviva, Inc. (NASDAQ:INVA)

Exchange Traded Concepts LLC decreased its position in Innoviva, Inc. (NASDAQ:INVA) by 15.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 154,785 shares of the biotechnology company’s stock after selling 27,754 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Innoviva were worth $2,989,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the business. EdgeRock Capital LLC acquired a new position in Innoviva during the second quarter worth $31,000. Innealta Capital LLC acquired a new position in shares of Innoviva during the 2nd quarter valued at about $33,000. Bessemer Group Inc. raised its stake in shares of Innoviva by 333.5% in the 1st quarter. Bessemer Group Inc. now owns 2,211 shares of the biotechnology company’s stock valued at $33,000 after acquiring an additional 1,701 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Innoviva by 124.0% in the 1st quarter. GAMMA Investing LLC now owns 2,262 shares of the biotechnology company’s stock valued at $34,000 after acquiring an additional 1,252 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Innoviva in the 1st quarter worth approximately $138,000. Institutional investors and hedge funds own 99.12% of the company’s stock.

Innoviva Price Performance

NASDAQ INVA opened at $19.89 on Tuesday. The stock has a 50-day simple moving average of $19.15 and a 200 day simple moving average of $17.16. Innoviva, Inc. has a twelve month low of $12.22 and a twelve month high of $20.19. The stock has a market capitalization of $1.24 billion, a PE ratio of 8.96 and a beta of 0.57. The company has a debt-to-equity ratio of 0.67, a quick ratio of 11.40 and a current ratio of 12.70.

Innoviva (NASDAQ:INVA) last issued its quarterly earnings results on Wednesday, July 31st. The biotechnology company reported $0.68 EPS for the quarter. Innoviva had a return on equity of 33.26% and a net margin of 44.00%. The company had revenue of $99.90 million during the quarter. Research analysts anticipate that Innoviva, Inc. will post 0.5 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. StockNews.com downgraded Innoviva from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 6th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Innoviva in a research note on Tuesday, July 30th.

Innoviva 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.