Denali Advisors LLC Buys 113,700 Shares of Innoviva, Inc. (NASDAQ:INVA)

Denali Advisors LLC boosted its stake in Innoviva, Inc. (NASDAQ:INVA) by 34.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 439,786 shares of the biotechnology company’s stock after acquiring an additional 113,700 shares during the period. Innoviva accounts for about 2.0% of Denali Advisors LLC’s holdings, making the stock its biggest position. Denali Advisors LLC owned approximately 0.70% of Innoviva worth $7,212,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in INVA. Texas Permanent School Fund Corp increased its position in Innoviva by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 49,358 shares of the biotechnology company’s stock worth $752,000 after purchasing an additional 662 shares during the period. ProShare Advisors LLC increased its position in Innoviva by 6.2% during the 1st quarter. ProShare Advisors LLC now owns 16,150 shares of the biotechnology company’s stock worth $246,000 after purchasing an additional 942 shares during the period. SummerHaven Investment Management LLC increased its position in Innoviva by 1.7% during the 2nd quarter. SummerHaven Investment Management LLC now owns 59,853 shares of the biotechnology company’s stock worth $982,000 after purchasing an additional 980 shares during the period. Quadrant Capital Group LLC increased its position in Innoviva by 13.2% during the 4th quarter. Quadrant Capital Group LLC now owns 9,042 shares of the biotechnology company’s stock worth $145,000 after purchasing an additional 1,056 shares during the period. Finally, Principal Financial Group Inc. increased its position in Innoviva by 0.3% during the 1st quarter. Principal Financial Group Inc. now owns 323,991 shares of the biotechnology company’s stock worth $4,938,000 after purchasing an additional 1,121 shares during the period. Institutional investors and hedge funds own 99.12% of the company’s stock.

Analyst Upgrades and Downgrades

INVA has been the topic of several recent analyst reports. StockNews.com cut Innoviva from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 6th. Cantor Fitzgerald reissued an “overweight” rating on shares of Innoviva in a research note on Tuesday, July 30th.

Innoviva Price Performance

Shares of NASDAQ:INVA opened at $20.04 on Tuesday. The business’s 50 day simple moving average is $18.48 and its 200-day simple moving average is $16.52. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 9.03 and a beta of 0.57. The company has a debt-to-equity ratio of 0.67, a current ratio of 12.70 and a quick ratio of 11.40. Innoviva, Inc. has a 12 month low of $12.22 and a 12 month high of $20.19.

Innoviva (NASDAQ:INVA) last posted its earnings results on Wednesday, July 31st. The biotechnology company reported $0.68 earnings per share (EPS) for the quarter. Innoviva had a return on equity of 33.26% and a net margin of 44.00%. The firm had revenue of $99.90 million for the quarter. As a group, equities analysts forecast that Innoviva, Inc. will post 0.5 earnings per share for the current fiscal year.

Innoviva 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.