Innoviva, Inc. (NASDAQ:INVA) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its holdings in Innoviva, Inc. (NASDAQ:INVA) by 6.5% during the third quarter, HoldingsChannel reports. The firm owned 286,777 shares of the biotechnology company’s stock after selling 20,058 shares during the period. Principal Financial Group Inc.’s holdings in Innoviva were worth $5,538,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. US Bancorp DE grew its holdings in shares of Innoviva by 24.5% during the third quarter. US Bancorp DE now owns 2,875 shares of the biotechnology company’s stock worth $56,000 after buying an additional 566 shares during the last quarter. GAMMA Investing LLC lifted its position in Innoviva by 18.5% during the 3rd quarter. GAMMA Investing LLC now owns 4,119 shares of the biotechnology company’s stock worth $80,000 after acquiring an additional 643 shares during the period. FMR LLC grew its stake in shares of Innoviva by 8.2% in the 3rd quarter. FMR LLC now owns 10,119 shares of the biotechnology company’s stock valued at $195,000 after purchasing an additional 771 shares during the last quarter. Walleye Capital LLC acquired a new position in shares of Innoviva in the third quarter valued at approximately $214,000. Finally, World Investment Advisors LLC acquired a new position in shares of Innoviva in the third quarter valued at approximately $217,000. 99.12% of the stock is owned by hedge funds and other institutional investors.

Innoviva Trading Down 0.2 %

NASDAQ INVA opened at $17.35 on Thursday. The company has a quick ratio of 1.64, a current ratio of 1.79 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $1.09 billion, a P/E ratio of 25.15 and a beta of 0.53. Innoviva, Inc. has a 52-week low of $14.32 and a 52-week high of $21.28. The firm has a 50-day moving average price of $18.93 and a 200 day moving average price of $18.60.

Innoviva (NASDAQ:INVA) last posted its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.25). Innoviva had a net margin of 18.31% and a return on equity of 20.84%. The business had revenue of $89.51 million during the quarter. Equities research analysts expect that Innoviva, Inc. will post 0.33 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Innoviva from a “buy” rating to a “hold” rating in a research report on Tuesday.

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.