Innoviva, Inc. (NASDAQ:INVA) Shares Sold by Jennison Associates LLC

Jennison Associates LLC reduced its stake in Innoviva, Inc. (NASDAQ:INVA) by 50.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 42,198 shares of the biotechnology company’s stock after selling 42,873 shares during the quarter. Jennison Associates LLC owned 0.07% of Innoviva worth $677,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quantbot Technologies LP purchased a new position in shares of Innoviva in the 3rd quarter valued at approximately $29,000. China Universal Asset Management Co. Ltd. grew its stake in shares of Innoviva by 342.7% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 7,410 shares of the biotechnology company’s stock valued at $119,000 after purchasing an additional 5,736 shares during the last quarter. Avantax Advisory Services Inc. purchased a new position in shares of Innoviva in the 3rd quarter valued at approximately $137,000. Cornerstone Investment Partners LLC purchased a new position in shares of Innoviva in the 4th quarter valued at approximately $177,000. Finally, Profund Advisors LLC grew its stake in shares of Innoviva by 7.9% in the 3rd quarter. Profund Advisors LLC now owns 11,879 shares of the biotechnology company’s stock valued at $154,000 after purchasing an additional 871 shares during the last quarter. 99.12% of the stock is currently owned by hedge funds and other institutional investors.

Innoviva Stock Up 1.8 %

Innoviva stock opened at $15.26 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 9.03 and a quick ratio of 7.96. Innoviva, Inc. has a 1-year low of $11.37 and a 1-year high of $16.86. The company has a market cap of $964.89 million, a PE ratio of 7.00 and a beta of 0.57. The stock’s 50 day moving average price is $15.00 and its 200 day moving average price is $14.93.

Innoviva (NASDAQ:INVA) last posted its quarterly earnings results on Thursday, February 29th. The biotechnology company reported $0.76 earnings per share for the quarter. Innoviva had a return on equity of 30.37% and a net margin of 57.89%. The firm had revenue of $85.84 million for the quarter.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on INVA shares. TheStreet upgraded Innoviva from a “c” rating to a “b-” rating in a research note on Thursday, February 29th. StockNews.com upgraded Innoviva from a “hold” rating to a “buy” rating in a research note on Friday, March 29th.

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.