Guggenheim Capital LLC Reduces Position in Innoviva, Inc. (NASDAQ:INVA)

Guggenheim Capital LLC cut its holdings in shares of Innoviva, Inc. (NASDAQ:INVA – Get Rating) by 38.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,151 shares of the biotechnology company’s stock after selling 28,583 shares during the quarter. Guggenheim Capital LLC owned approximately 0.06% of Innoviva worth $524,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Quadrant Capital Group LLC lifted its holdings in Innoviva by 2,417.4% during the third quarter. Quadrant Capital Group LLC now owns 2,165 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 2,079 shares during the last quarter. Captrust Financial Advisors lifted its holdings in shares of Innoviva by 362.2% in the first quarter. Captrust Financial Advisors now owns 2,699 shares of the biotechnology company’s stock worth $52,000 after buying an additional 2,115 shares in the last quarter. Wipfli Financial Advisors LLC purchased a new stake in shares of Innoviva in the third quarter worth about $34,000. Gladius Capital Management LP purchased a new stake in shares of Innoviva in the second quarter worth about $44,000. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Innoviva in the first quarter worth about $76,000.

Innoviva Stock Up 0.6 %

Shares of NASDAQ INVA opened at $10.79 on Friday. Innoviva, Inc. has a one year low of $10.64 and a one year high of $20.71. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.29 and a quick ratio of 2.87. The firm’s 50 day simple moving average is $12.46 and its two-hundred day simple moving average is $12.82. The stock has a market capitalization of $752.93 million, a P/E ratio of 5.21 and a beta of 0.56.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on INVA shares. Morgan Stanley lowered their price target on shares of Innoviva from $13.00 to $10.00 and set an “underweight” rating on the stock in a report on Friday, March 3rd. TheStreet downgraded shares of Innoviva from a “b-” rating to a “c+” rating in a research note on Thursday, February 23rd. StockNews.com downgraded shares of Innoviva from a “buy” rating to a “hold” rating in a research note on Friday, March 3rd. EF Hutton Acquisition Co. I reaffirmed a “buy” rating and issued a $22.50 target price on shares of Innoviva in a research note on Friday, March 3rd. Finally, The Goldman Sachs Group lowered their target price on shares of Innoviva from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Friday, March 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $15.17.

About Innoviva

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Innoviva, Inc is engaged in the development, commercialization, and financial management of biopharmaceuticals. Its portfolio includes Relvar Breo Ellipta, which is a once-daily combination medicine consisting of a long-acting beta2 agonist, vilanterol, and an inhaled corticosteroid, fluticasone furoate, and Anoro Ellipta, a once-daily medicine combining a long-acting muscarinic antagonist, umeclidinium bromide, LABA, VI.