Geode Capital Management LLC Has $26.22 Million Stock Position in Innoviva, Inc. (NASDAQ:INVA)

Geode Capital Management LLC increased its position in shares of Innoviva, Inc. (NASDAQ:INVA) by 1.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,357,557 shares of the biotechnology company’s stock after purchasing an additional 13,257 shares during the quarter. Geode Capital Management LLC’s holdings in Innoviva were worth $26,219,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in INVA. Jane Street Group LLC boosted its stake in shares of Innoviva by 46.4% in the 3rd quarter. Jane Street Group LLC now owns 136,361 shares of the biotechnology company’s stock valued at $2,633,000 after purchasing an additional 43,218 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Innoviva by 3.5% during the third quarter. Victory Capital Management Inc. now owns 140,454 shares of the biotechnology company’s stock worth $2,712,000 after buying an additional 4,699 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new position in Innoviva in the third quarter valued at approximately $715,000. FMR LLC boosted its stake in Innoviva by 8.2% in the third quarter. FMR LLC now owns 10,119 shares of the biotechnology company’s stock valued at $195,000 after acquiring an additional 771 shares during the last quarter. Finally, BOKF NA grew its holdings in Innoviva by 180.5% during the 2nd quarter. BOKF NA now owns 46,377 shares of the biotechnology company’s stock worth $761,000 after acquiring an additional 29,846 shares during the period. Institutional investors own 99.12% of the company’s stock.

Innoviva Stock Performance

INVA stock opened at $17.65 on Friday. Innoviva, Inc. has a twelve month low of $14.32 and a twelve month 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. The company has a market cap of $1.10 billion, a P/E ratio of 25.58 and a beta of 0.53. The business’s fifty day moving average is $19.18 and its 200-day moving average is $18.55.

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