Empowered Funds LLC Sells 173,122 Shares of Innoviva, Inc. (NASDAQ:INVA)

Empowered Funds LLC decreased its position in Innoviva, Inc. (NASDAQ:INVA) by 64.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 95,964 shares of the biotechnology company’s stock after selling 173,122 shares during the period. Empowered Funds LLC’s holdings in Innoviva were worth $1,853,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in Innoviva by 1.5% in the second quarter. Dimensional Fund Advisors LP now owns 4,684,594 shares of the biotechnology company’s stock worth $76,826,000 after acquiring an additional 71,336 shares in the last quarter. American Century Companies Inc. boosted its holdings in Innoviva by 369.6% during the second quarter. American Century Companies Inc. now owns 459,690 shares of the biotechnology company’s stock worth $7,539,000 after buying an additional 361,797 shares in the last quarter. Denali Advisors LLC raised its holdings in Innoviva by 34.9% in the 2nd quarter. Denali Advisors LLC now owns 439,786 shares of the biotechnology company’s stock worth $7,212,000 after purchasing an additional 113,700 shares during the period. Boston Partners raised its stake in shares of Innoviva by 90.3% during the 1st quarter. Boston Partners now owns 391,456 shares of the biotechnology company’s stock worth $5,966,000 after buying an additional 185,784 shares during the period. Finally, Redwood Investment Management LLC grew its position in shares of Innoviva by 6.4% in the first quarter. Redwood Investment Management LLC now owns 213,533 shares of the biotechnology company’s stock valued at $3,254,000 after purchasing an additional 12,911 shares during the period. Hedge funds and other institutional investors own 99.12% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on INVA. StockNews.com downgraded shares of Innoviva from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 6th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Innoviva in a report on Tuesday, July 30th.

Innoviva Price Performance

Innoviva stock opened at $19.15 on Thursday. The firm has a market cap of $1.20 billion, a PE ratio of 27.75 and a beta of 0.57. The company’s 50 day moving average is $19.62 and its two-hundred day moving average is $18.05. Innoviva, Inc. has a 52-week low of $13.41 and a 52-week high of $21.28. The company has a quick ratio of 1.64, a current ratio of 1.79 and a debt-to-equity ratio of 0.38.

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

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.