Wellington Management Group LLP Makes New Investment in Innoviva, Inc. (NASDAQ:INVA)

Wellington Management Group LLP acquired a new stake in Innoviva, Inc. (NASDAQ:INVA) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 120,926 shares of the biotechnology company’s stock, valued at approximately $1,940,000.

Other large investors have also modified their holdings of the company. China Universal Asset Management Co. Ltd. raised its position in 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. Quadrant Capital Group LLC increased its stake in Innoviva by 13.2% in the fourth quarter. Quadrant Capital Group LLC now owns 9,042 shares of the biotechnology company’s stock valued at $145,000 after purchasing an additional 1,056 shares during the period. Cornerstone Investment Partners LLC purchased a new stake in shares of Innoviva in the fourth quarter valued at about $177,000. Profund Advisors LLC boosted its stake in shares of Innoviva by 7.9% during the third quarter. Profund Advisors LLC now owns 11,879 shares of the biotechnology company’s stock worth $154,000 after buying an additional 871 shares during the period. Finally, Avantax Advisory Services Inc. grew its holdings in shares of Innoviva by 18.1% during the fourth quarter. Avantax Advisory Services Inc. now owns 12,417 shares of the biotechnology company’s stock worth $199,000 after buying an additional 1,907 shares during the last quarter. 99.12% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

INVA has been the subject of several analyst reports. Cantor Fitzgerald began coverage on Innoviva in a research note on Tuesday, June 18th. They set an “overweight” rating for the company. StockNews.com raised Innoviva from a “hold” rating to a “buy” rating in a report on Friday, March 29th.

Innoviva Trading Up 0.6 %

Shares of Innoviva stock opened at $16.50 on Tuesday. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 7.43 and a beta of 0.57. Innoviva, Inc. has a 52-week low of $12.22 and a 52-week high of $16.86. The company’s 50-day simple moving average is $15.81 and its 200-day simple moving average is $15.66. The company has a quick ratio of 9.17, a current ratio of 10.42 and a debt-to-equity ratio of 0.63.

Innoviva (NASDAQ:INVA) last announced its quarterly earnings data on Wednesday, May 8th. The biotechnology company reported $0.46 earnings per share for the quarter. The company had revenue of $77.50 million for the quarter. Innoviva had a return on equity of 28.94% and a net margin of 58.21%. As a group, equities research analysts anticipate that Innoviva, Inc. will post 1.09 earnings per share for the current year.

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.