Allspring Global Investments Holdings LLC Trims Stock Position in Innoviva, Inc. (NASDAQ:INVA)

Allspring Global Investments Holdings LLC lessened its position in shares of Innoviva, Inc. (NASDAQ:INVAGet Rating) by 2.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 50,318 shares of the biotechnology company’s stock after selling 1,246 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Innoviva were worth $584,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Innoviva by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 6,823,390 shares of the biotechnology company’s stock valued at $132,032,000 after purchasing an additional 23,195 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Innoviva by 0.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,540,394 shares of the biotechnology company’s stock valued at $49,156,000 after purchasing an additional 7,052 shares during the last quarter. State Street Corp increased its holdings in Innoviva by 22.1% in the 2nd quarter. State Street Corp now owns 2,457,108 shares of the biotechnology company’s stock valued at $36,267,000 after purchasing an additional 445,546 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Innoviva by 81.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,002,894 shares of the biotechnology company’s stock valued at $29,563,000 after purchasing an additional 901,792 shares during the last quarter. Finally, Pacer Advisors Inc. increased its holdings in Innoviva by 33.6% in the 3rd quarter. Pacer Advisors Inc. now owns 1,475,398 shares of the biotechnology company’s stock valued at $17,129,000 after purchasing an additional 371,034 shares during the last quarter.

Innoviva Stock Performance

NASDAQ:INVA opened at $12.94 on Tuesday. The company has a fifty day simple moving average of $13.19 and a two-hundred day simple moving average of $13.36. The company has a market cap of $902.99 million, a price-to-earnings ratio of 4.06 and a beta of 0.55. The company has a quick ratio of 2.34, a current ratio of 2.77 and a debt-to-equity ratio of 0.69. Innoviva, Inc. has a 52 week low of $11.56 and a 52 week high of $20.71.

Innoviva (NASDAQ:INVAGet Rating) last posted its quarterly earnings results on Wednesday, November 9th. The biotechnology company reported $0.60 EPS for the quarter, missing the consensus estimate of $2.75 by ($2.15). The business had revenue of $67.26 million during the quarter, compared to analyst estimates of $361.45 million. Innoviva had a return on equity of 23.89% and a net margin of 78.39%. As a group, equities analysts anticipate that Innoviva, Inc. will post 3.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. TheStreet upgraded shares of Innoviva from a “c” rating to a “b-” rating in a report on Thursday, November 10th. StockNews.com initiated coverage on shares of Innoviva in a research note on Wednesday, October 12th. They issued a “buy” rating for the company. Finally, Morgan Stanley boosted their price target on shares of Innoviva from $13.00 to $14.00 and gave the stock an “underweight” rating in a research note on Thursday, October 13th.

About Innoviva

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Innoviva, Inc engages in the development and commercialization of pharmaceuticals in the United States and internationally. Its 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), umeclidinium bromide (UMEC), with a LABA, and VI; and TRELEGY ELLIPTA, a once-daily combination medicine consisting of an ICS, LAMA, and LABA.

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Institutional Ownership by Quarter for Innoviva (NASDAQ:INVA)

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