Everence Capital Management Inc. Sells 1,010 Shares of Innoviva, Inc. (NASDAQ:INVA)

Everence Capital Management Inc. trimmed its position in Innoviva, Inc. (NASDAQ:INVA) by 8.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 10,960 shares of the biotechnology company’s stock after selling 1,010 shares during the period. Everence Capital Management Inc.’s holdings in Innoviva were worth $190,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. US Bancorp DE increased its position in shares of Innoviva by 24.5% during the third quarter. US Bancorp DE now owns 2,875 shares of the biotechnology company’s stock valued at $56,000 after acquiring an additional 566 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Innoviva by 18.5% during the 3rd quarter. GAMMA Investing LLC now owns 4,119 shares of the biotechnology company’s stock worth $80,000 after purchasing an additional 643 shares in the last quarter. FMR LLC boosted its stake in Innoviva by 8.2% in the 3rd quarter. FMR LLC now owns 10,119 shares of the biotechnology company’s stock worth $195,000 after purchasing an additional 771 shares during the period. Evergreen Capital Management LLC grew its holdings in Innoviva by 10.9% during the 2nd quarter. Evergreen Capital Management LLC now owns 12,321 shares of the biotechnology company’s stock valued at $202,000 after buying an additional 1,209 shares in the last quarter. Finally, Walleye Capital LLC bought a new stake in shares of Innoviva during the third quarter valued at about $214,000. Hedge funds and other institutional investors own 99.12% of the company’s stock.

Innoviva Price Performance

Innoviva stock opened at $17.31 on Friday. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 25.09 and a beta of 0.54. 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 business has a 50-day simple moving average of $18.69 and a 200 day simple moving average of $18.64. Innoviva, Inc. has a 52 week low of $14.32 and a 52 week high of $21.28.

Innoviva (NASDAQ:INVA) last posted its quarterly earnings data 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). Innoviva had a return on equity of 20.84% and a net margin of 18.31%. The company had revenue of $89.51 million during the quarter. On average, research analysts forecast that Innoviva, Inc. will post 0.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Innoviva from a “buy” rating to a “hold” rating in a research note on Tuesday, December 31st.

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.