Allspring Global Investments Holdings LLC Trims Position in Innoviva, Inc. (NASDAQ:INVA)

Allspring Global Investments Holdings LLC lowered its position in Innoviva, Inc. (NASDAQ:INVA) by 36.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 96,064 shares of the biotechnology company’s stock after selling 55,980 shares during the period. Allspring Global Investments Holdings LLC owned about 0.15% of Innoviva worth $1,541,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. SG Americas Securities LLC boosted its stake in Innoviva by 159.5% in the 3rd quarter. SG Americas Securities LLC now owns 32,940 shares of the biotechnology company’s stock worth $428,000 after purchasing an additional 20,248 shares during the period. Denali Advisors LLC grew its stake in Innoviva by 20.9% during the third quarter. Denali Advisors LLC now owns 339,272 shares of the biotechnology company’s stock valued at $4,407,000 after acquiring an additional 58,541 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Innoviva by 43.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,254 shares of the biotechnology company’s stock valued at $224,000 after acquiring an additional 5,199 shares during the last quarter. Assetmark Inc. lifted its stake in Innoviva by 3.8% in the 3rd quarter. Assetmark Inc. now owns 54,755 shares of the biotechnology company’s stock worth $711,000 after purchasing an additional 2,009 shares in the last quarter. Finally, Jennison Associates LLC boosted its holdings in shares of Innoviva by 71.4% during the 3rd quarter. Jennison Associates LLC now owns 85,071 shares of the biotechnology company’s stock valued at $1,105,000 after purchasing an additional 35,430 shares during the last quarter. Hedge funds and other institutional investors own 99.12% of the company’s stock.

Innoviva Stock Performance

Shares of NASDAQ:INVA opened at $14.93 on Tuesday. The firm has a fifty day simple moving average of $15.05 and a two-hundred day simple moving average of $14.90. The company has a quick ratio of 7.96, a current ratio of 9.03 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $943.98 million, a P/E ratio of 6.85 and a beta of 0.57. Innoviva, Inc. has a 52 week low of $11.37 and a 52 week high of $16.86.

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

Analyst Ratings Changes

Several brokerages have recently issued reports on INVA. TheStreet raised Innoviva from a “c” rating to a “b-” rating in a report on Thursday, February 29th. StockNews.com upgraded Innoviva from a “hold” rating to a “buy” rating in a research report on Friday, March 29th.

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.