Baird Financial Group Inc. Lowers Stake in Innoviva, Inc. (NASDAQ:INVA)

Baird Financial Group Inc. reduced its holdings in shares of Innoviva, Inc. (NASDAQ:INVAGet Rating) by 29.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,944 shares of the biotechnology company’s stock after selling 15,062 shares during the period. Baird Financial Group Inc. owned 0.05% of Innoviva worth $545,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of INVA. Vanguard Group Inc. increased its stake in Innoviva by 0.3% during 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 in the last quarter. LSV Asset Management increased its stake in Innoviva by 0.5% during the 1st quarter. LSV Asset Management now owns 3,266,478 shares of the biotechnology company’s stock valued at $63,206,000 after purchasing an additional 14,900 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Innoviva by 0.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,540,394 shares of the biotechnology company’s stock worth $49,156,000 after acquiring an additional 7,052 shares during the period. Nomura Holdings Inc. grew its stake in shares of Innoviva by 27.9% in the first quarter. Nomura Holdings Inc. now owns 2,102,018 shares of the biotechnology company’s stock worth $41,510,000 after acquiring an additional 458,966 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in shares of Innoviva by 81.9% in the second quarter. Assenagon Asset Management S.A. now owns 2,002,894 shares of the biotechnology company’s stock worth $29,563,000 after acquiring an additional 901,792 shares during the period.

Innoviva Stock Performance

Shares of NASDAQ INVA opened at $13.55 on Monday. The firm has a 50 day moving average of $12.85 and a 200 day moving average of $14.02. The company has a current ratio of 2.77, a quick ratio of 2.34 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $945.56 million, a price-to-earnings ratio of 4.25 and a beta of 0.59. Innoviva, Inc. has a 12-month low of $11.56 and a 12-month high of $20.71.

Analyst Ratings Changes

INVA has been the subject of a number of research analyst reports. TheStreet upgraded shares of Innoviva from a “c” rating to a “b-” rating in a research note on Thursday, November 10th. Morgan Stanley lifted 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. Finally, StockNews.com initiated coverage on shares of Innoviva in a research note on Wednesday, October 12th. They issued a “buy” rating for the company.

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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Institutional Ownership by Quarter for Innoviva (NASDAQ:INVA)

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