Innoviva, Inc. (NASDAQ:INVA) Shares Sold by Hussman Strategic Advisors Inc.

Hussman Strategic Advisors Inc. decreased its position in Innoviva, Inc. (NASDAQ:INVA) by 49.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 105,000 shares of the biotechnology company’s stock after selling 103,000 shares during the quarter. Hussman Strategic Advisors Inc. owned 0.16% of Innoviva worth $1,684,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in Innoviva by 0.9% during the third quarter. BlackRock Inc. now owns 10,185,548 shares of the biotechnology company’s stock worth $118,253,000 after purchasing an additional 92,620 shares in the last quarter. Vanguard Group Inc. raised its holdings in Innoviva by 0.4% during the third quarter. Vanguard Group Inc. now owns 6,997,953 shares of the biotechnology company’s stock worth $81,247,000 after purchasing an additional 27,003 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Innoviva by 17.9% during the first quarter. Dimensional Fund Advisors LP now owns 3,782,204 shares of the biotechnology company’s stock worth $42,549,000 after purchasing an additional 575,010 shares in the last quarter. State Street Corp raised its holdings in Innoviva by 0.6% during the third quarter. State Street Corp now owns 2,470,894 shares of the biotechnology company’s stock worth $28,687,000 after purchasing an additional 13,786 shares in the last quarter. Finally, Westfield Capital Management Co. LP raised its holdings in Innoviva by 6.7% during the third quarter. Westfield Capital Management Co. LP now owns 2,045,010 shares of the biotechnology company’s stock worth $26,565,000 after purchasing an additional 127,759 shares in the last quarter. Institutional investors and hedge funds own 99.12% of the company’s stock.

Innoviva Stock Performance

Shares of INVA opened at $14.95 on Monday. The company has a current ratio of 9.03, a quick ratio of 7.96 and a debt-to-equity ratio of 0.66. The firm has a market cap of $945.24 million, a PE ratio of 6.86 and a beta of 0.57. The company’s 50 day simple moving average is $15.07 and its 200-day simple moving average is $14.89. Innoviva, Inc. has a 12-month low of $11.37 and a 12-month high of $16.86.

Innoviva (NASDAQ:INVA) last announced its earnings results on Thursday, February 29th. The biotechnology company reported $0.76 earnings per share (EPS) for the quarter. Innoviva had a net margin of 57.89% and a return on equity of 30.37%. The business had revenue of $85.84 million for the quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on INVA shares. StockNews.com upgraded shares of Innoviva from a “hold” rating to a “buy” rating in a research report on Friday, March 29th. TheStreet upgraded shares of Innoviva from a “c” rating to a “b-” rating in a research report on Thursday, February 29th.

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.