Ritholtz Wealth Management Boosts Position in Innoviva, Inc. (NASDAQ:INVA)

Ritholtz Wealth Management boosted its position in shares of Innoviva, Inc. (NASDAQ:INVA) by 22.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 71,657 shares of the biotechnology company’s stock after purchasing an additional 13,232 shares during the quarter. Ritholtz Wealth Management owned approximately 0.11% of Innoviva worth $1,384,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in shares of Innoviva by 18.5% during the third quarter. GAMMA Investing LLC now owns 4,119 shares of the biotechnology company’s stock valued at $80,000 after acquiring an additional 643 shares during the last quarter. Texas Permanent School Fund Corp boosted its stake in shares of Innoviva by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 49,358 shares of the biotechnology company’s stock valued at $752,000 after acquiring an additional 662 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of Innoviva by 6.2% during the first quarter. ProShare Advisors LLC now owns 16,150 shares of the biotechnology company’s stock valued at $246,000 after acquiring an additional 942 shares during the last quarter. SummerHaven Investment Management LLC boosted its stake in shares of Innoviva by 1.7% during the second quarter. SummerHaven Investment Management LLC now owns 59,853 shares of the biotechnology company’s stock valued at $982,000 after acquiring an additional 980 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Innoviva by 0.3% during the first quarter. Principal Financial Group Inc. now owns 323,991 shares of the biotechnology company’s stock valued at $4,938,000 after acquiring an additional 1,121 shares during the last quarter. 99.12% of the stock is currently owned by hedge funds and other institutional investors.

Innoviva Stock Performance

NASDAQ INVA opened at $19.80 on Monday. The business’s 50-day moving average price is $19.12 and its 200 day moving average price is $17.13. Innoviva, Inc. has a twelve month low of $12.22 and a twelve month high of $20.19. The company has a market capitalization of $1.24 billion, a PE ratio of 8.92 and a beta of 0.57. The company has a current ratio of 12.70, a quick ratio of 11.40 and a debt-to-equity ratio of 0.67.

Innoviva (NASDAQ:INVA) last released its quarterly earnings data on Wednesday, July 31st. The biotechnology company reported $0.68 EPS for the quarter. The company had revenue of $99.90 million for the quarter. Innoviva had a return on equity of 33.26% and a net margin of 44.00%. On average, research analysts predict that Innoviva, Inc. will post 0.5 earnings per share for the current year.

Wall Street Analyst Weigh In

INVA has been the topic of a number of analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Innoviva in a research note on Tuesday, July 30th. StockNews.com downgraded Innoviva from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 6th.

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.