Wellington Management Group LLP Lowers Holdings in Innoviva, Inc. (NASDAQ:INVA)

Wellington Management Group LLP reduced its stake in shares of Innoviva, Inc. (NASDAQ:INVA) by 60.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,166 shares of the biotechnology company’s stock after selling 42,739 shares during the period. Wellington Management Group LLP’s holdings in Innoviva were worth $544,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of INVA. Innealta Capital LLC purchased a new stake in shares of Innoviva during the 2nd quarter valued at $33,000. US Bancorp DE raised its holdings in Innoviva by 24.5% in the third quarter. US Bancorp DE now owns 2,875 shares of the biotechnology company’s stock valued at $56,000 after buying an additional 566 shares during the period. GAMMA Investing LLC lifted its position in 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 buying an additional 643 shares in the last quarter. Hennion & Walsh Asset Management Inc. purchased a new stake in Innoviva during the second quarter worth approximately $167,000. Finally, FMR LLC increased its position in shares of Innoviva by 8.2% in the third quarter. FMR LLC now owns 10,119 shares of the biotechnology company’s stock worth $195,000 after acquiring an additional 771 shares in the last quarter. 99.12% of the stock is currently owned by hedge funds and other institutional investors.

Innoviva Trading Down 0.5 %

NASDAQ:INVA opened at $17.84 on Friday. Innoviva, Inc. has a 12 month low of $14.32 and a 12 month high of $21.28. The business’s 50-day moving average is $19.31 and its two-hundred day moving average is $18.50. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.79 and a quick ratio of 1.64. The firm has a market capitalization of $1.12 billion, a PE ratio of 25.86 and a beta of 0.53.

Innoviva (NASDAQ:INVA) last released 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 return on equity of 20.84% and a net margin of 18.31%. The company had revenue of $89.51 million for the quarter. Research analysts predict that Innoviva, Inc. will post 0.33 earnings per share for the current fiscal 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.