Innoviva, Inc. (NASDAQ:INVA) Shares Sold by Jennison Associates LLC

Jennison Associates LLC trimmed its stake in shares of Innoviva, Inc. (NASDAQ:INVA) by 50.4% during the fourth quarter, Holdings Channel reports. The firm owned 42,198 shares of the biotechnology company’s stock after selling 42,873 shares during the period. Jennison Associates LLC’s holdings in Innoviva were worth $677,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Los Angeles Capital Management LLC raised its position in shares of Innoviva by 0.4% during the 3rd quarter. Los Angeles Capital Management LLC now owns 177,057 shares of the biotechnology company’s stock worth $2,300,000 after purchasing an additional 762 shares during the period. Profund Advisors LLC increased its position in Innoviva by 7.9% in the 3rd quarter. Profund Advisors LLC now owns 11,879 shares of the biotechnology company’s stock valued at $154,000 after acquiring an additional 871 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its position in Innoviva by 11.1% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 12,000 shares of the biotechnology company’s stock valued at $156,000 after acquiring an additional 1,200 shares during the period. PNC Financial Services Group Inc. increased its position in Innoviva by 2.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 46,109 shares of the biotechnology company’s stock valued at $599,000 after acquiring an additional 1,234 shares during the period. Finally, Campbell & CO Investment Adviser LLC increased its position in Innoviva by 11.0% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 16,078 shares of the biotechnology company’s stock valued at $209,000 after acquiring an additional 1,594 shares during the period. 99.12% of the stock is currently owned by institutional investors and hedge funds.

Innoviva Stock Performance

Shares of NASDAQ INVA opened at $15.26 on Friday. The stock has a fifty day moving average price of $15.00 and a two-hundred day moving average price of $14.93. The company has a debt-to-equity ratio of 0.66, a quick ratio of 7.96 and a current ratio of 9.03. The firm has a market cap of $964.89 million, a P/E ratio of 7.00 and a beta of 0.57. Innoviva, Inc. has a 1 year low of $11.37 and a 1 year high of $16.86.

Innoviva (NASDAQ:INVA) last issued 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 during the quarter. Innoviva had a return on equity of 30.37% and a net margin of 57.89%.

Analyst Ratings Changes

INVA has been the topic of several analyst reports. StockNews.com upgraded Innoviva from a “hold” rating to a “buy” rating in a research report on Friday, March 29th. TheStreet upgraded Innoviva from a “c” rating to a “b-” rating in a research report on Thursday, February 29th.

Innoviva Profile

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.