Innoviva, Inc. (NASDAQ:INVA) Sees Significant Decline in Short Interest

Innoviva, Inc. (NASDAQ:INVA) saw a large decline in short interest in January. As of January 31st, there was short interest totalling 8,810,000 shares, a decline of 10.2% from the January 15th total of 9,810,000 shares. Approximately 14.2% of the company’s shares are short sold. Based on an average trading volume of 680,800 shares, the days-to-cover ratio is presently 12.9 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Innoviva by 6.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 140,324 shares of the biotechnology company’s stock valued at $2,435,000 after acquiring an additional 8,875 shares in the last quarter. Vident Advisory LLC grew its position in Innoviva by 11.0% in the 4th quarter. Vident Advisory LLC now owns 26,687 shares of the biotechnology company’s stock valued at $463,000 after purchasing an additional 2,637 shares during the period. Squarepoint Ops LLC increased its stake in Innoviva by 2.1% during the 4th quarter. Squarepoint Ops LLC now owns 343,216 shares of the biotechnology company’s stock valued at $5,955,000 after purchasing an additional 7,032 shares in the last quarter. Systematic Financial Management LP raised its holdings in Innoviva by 2.5% during the fourth quarter. Systematic Financial Management LP now owns 2,029,069 shares of the biotechnology company’s stock worth $35,204,000 after buying an additional 49,996 shares during the last quarter. Finally, ProShare Advisors LLC lifted its stake in shares of Innoviva by 28.9% in the fourth quarter. ProShare Advisors LLC now owns 19,638 shares of the biotechnology company’s stock valued at $341,000 after buying an additional 4,401 shares in the last quarter. Institutional investors own 99.12% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Innoviva from a “buy” rating to a “hold” rating in a research note on Thursday.

Innoviva Stock Down 0.8 %

Shares of INVA traded down $0.14 during trading hours on Monday, hitting $18.08. The stock had a trading volume of 263,826 shares, compared to its average volume of 575,875. Innoviva has a 1-year low of $14.32 and a 1-year high of $21.28. The firm has a market capitalization of $1.13 billion, a P/E ratio of 26.20 and a beta of 0.55. The firm has a 50 day simple moving average of $18.11 and a 200-day simple moving average of $18.88. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.79 and a quick ratio of 1.64.

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.