Short Interest in Innoviva, Inc. (NASDAQ:INVA) Decreases By 7.5%

Innoviva, Inc. (NASDAQ:INVA) was the recipient of a significant decline in short interest in November. As of November 30th, there was short interest totalling 10,730,000 shares, a decline of 7.5% from the November 15th total of 11,600,000 shares. Based on an average daily trading volume, of 601,600 shares, the short-interest ratio is presently 17.8 days. Approximately 17.3% of the shares of the stock are short sold.

Innoviva Stock Performance

NASDAQ INVA opened at $18.42 on Tuesday. Innoviva has a 1-year low of $14.32 and a 1-year high of $21.28. The company has a 50 day moving average of $19.45 and a 200-day moving average of $18.47. 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 market cap of $1.15 billion, a price-to-earnings ratio of 26.70 and a beta of 0.53.

Innoviva (NASDAQ:INVA) last issued its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. On average, equities analysts forecast that Innoviva will post 0.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Innoviva

A number of institutional investors and hedge funds have recently modified their holdings of INVA. Dimensional Fund Advisors LP lifted its stake in Innoviva by 1.5% in the second quarter. Dimensional Fund Advisors LP now owns 4,684,594 shares of the biotechnology company’s stock valued at $76,826,000 after buying an additional 71,336 shares during the period. Systematic Financial Management LP lifted its stake in Innoviva by 4.7% in the 3rd quarter. Systematic Financial Management LP now owns 1,979,073 shares of the biotechnology company’s stock valued at $38,216,000 after acquiring an additional 89,633 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Innoviva by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,357,557 shares of the biotechnology company’s stock worth $26,219,000 after acquiring an additional 13,257 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Innoviva by 369.6% in the second quarter. American Century Companies Inc. now owns 459,690 shares of the biotechnology company’s stock worth $7,539,000 after purchasing an additional 361,797 shares in the last quarter. Finally, Denali Advisors LLC boosted its holdings in Innoviva by 34.9% during the second quarter. Denali Advisors LLC now owns 439,786 shares of the biotechnology company’s stock worth $7,212,000 after purchasing an additional 113,700 shares during the last quarter. 99.12% of the stock is owned by institutional investors.

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.