Swiss National Bank Sells 14,200 Shares of Innoviva, Inc. (NASDAQ:INVA)

Swiss National Bank cut its stake in shares of Innoviva, Inc. (NASDAQ:INVA) by 11.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 115,400 shares of the biotechnology company’s stock after selling 14,200 shares during the quarter. Swiss National Bank owned about 0.18% of Innoviva worth $1,851,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. PNC Financial Services Group Inc. increased its stake in Innoviva by 2.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 46,109 shares of the biotechnology company’s stock valued at $599,000 after purchasing an additional 1,234 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Innoviva by 119,140.3% in the 4th quarter. Pacer Advisors Inc. now owns 1,728,984 shares of the biotechnology company’s stock worth $27,733,000 after acquiring an additional 1,727,534 shares during the last quarter. Boston Partners lifted its position in Innoviva by 10.2% in the 3rd quarter. Boston Partners now owns 393,470 shares of the biotechnology company’s stock valued at $5,111,000 after acquiring an additional 36,313 shares in the last quarter. UBS Group AG boosted its stake in Innoviva by 223.8% during the 3rd quarter. UBS Group AG now owns 626,355 shares of the biotechnology company’s stock valued at $8,136,000 after purchasing an additional 432,940 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Innoviva by 16.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 797,803 shares of the biotechnology company’s stock worth $10,363,000 after purchasing an additional 115,009 shares in the last quarter. Hedge funds and other institutional investors own 99.12% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Innoviva Trading Down 0.1 %

Shares of INVA stock opened at $15.78 on Friday. The company has a current ratio of 10.42, a quick ratio of 9.17 and a debt-to-equity ratio of 0.63. Innoviva, Inc. has a 12-month low of $12.22 and a 12-month high of $16.86. The stock has a market capitalization of $985.38 million, a P/E ratio of 7.11 and a beta of 0.57. The firm’s 50 day moving average is $15.20 and its 200 day moving average is $15.30.

Innoviva (NASDAQ:INVA) last released its quarterly earnings results on Thursday, February 29th. The biotechnology company reported $0.76 earnings per share (EPS) for the quarter. The firm had revenue of $85.84 million for the quarter. Innoviva had a return on equity of 28.94% and a net margin of 58.21%.

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.