Innoviva (NASDAQ:INVA) Sets New 52-Week Low at $12.13

Innoviva, Inc. (NASDAQ:INVAGet Rating)’s share price reached a new 52-week low on Tuesday . The stock traded as low as $12.13 and last traded at $12.14, with a volume of 1837 shares. The stock had previously closed at $12.47.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on INVA shares. The Goldman Sachs Group started coverage on shares of Innoviva in a research note on Wednesday, July 20th. They set a “neutral” rating on the stock. StockNews.com lowered shares of Innoviva from a “buy” rating to a “hold” rating in a research note on Friday, July 29th. Finally, TheStreet downgraded shares of Innoviva from a “b-” rating to a “c” rating in a research report on Friday, July 29th.

Innoviva Price Performance

The company has a 50 day simple moving average of $13.82 and a 200-day simple moving average of $15.73. The stock has a market cap of $838.56 million, a price-to-earnings ratio of 9.33 and a beta of 0.48. The company has a current ratio of 3.18, a quick ratio of 3.18 and a debt-to-equity ratio of 0.78.

Institutional Trading of Innoviva

Hedge funds and other institutional investors have recently modified their holdings of the company. Strs Ohio acquired a new stake in shares of Innoviva in the 1st quarter valued at about $38,000. Gladius Capital Management LP acquired a new stake in shares of Innoviva in the 2nd quarter valued at about $44,000. Captrust Financial Advisors raised its stake in shares of Innoviva by 362.2% in the 1st quarter. Captrust Financial Advisors now owns 2,699 shares of the biotechnology company’s stock valued at $52,000 after purchasing an additional 2,115 shares during the period. Point72 Hong Kong Ltd bought a new position in shares of Innoviva in the 1st quarter valued at about $76,000. Finally, Quantbot Technologies LP bought a new position in shares of Innoviva in the 1st quarter valued at about $109,000.

Innoviva Company Profile

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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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