Allspring Global Investments Holdings LLC Has $1.49 Million Stock Holdings in Innoviva, Inc. (NASDAQ:INVA)

Allspring Global Investments Holdings LLC decreased its stake in Innoviva, Inc. (NASDAQ:INVA) by 18.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 90,914 shares of the biotechnology company’s stock after selling 20,745 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.15% of Innoviva worth $1,491,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. EdgeRock Capital LLC acquired a new position in shares of Innoviva in the second quarter worth about $31,000. Bessemer Group Inc. boosted its stake in Innoviva by 333.5% in the 1st quarter. Bessemer Group Inc. now owns 2,211 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 1,701 shares during the period. GAMMA Investing LLC grew its position in Innoviva by 124.0% during the 1st quarter. GAMMA Investing LLC now owns 2,262 shares of the biotechnology company’s stock worth $34,000 after purchasing an additional 1,252 shares in the last quarter. Quadrant Capital Group LLC raised its stake in Innoviva by 13.2% during the 4th 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. Finally, SG Americas Securities LLC acquired a new stake in Innoviva during the 1st quarter valued at $138,000. Hedge funds and other institutional investors own 99.12% of the company’s stock.

Innoviva Stock Up 0.7 %

INVA stock opened at $19.52 on Wednesday. The company has a 50 day moving average of $17.92 and a two-hundred day moving average of $16.27. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 8.79 and a beta of 0.57. Innoviva, Inc. has a 12-month low of $12.22 and a 12-month high of $19.75. The company has a quick ratio of 11.40, a current ratio of 12.70 and a debt-to-equity ratio of 0.67.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Innoviva in a report on Tuesday, July 30th. StockNews.com cut Innoviva from a “strong-buy” rating to a “buy” rating in a research note 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.