nVerses Capital LLC Cuts Stock Position in Innoviva, Inc. (NASDAQ:INVA)

nVerses Capital LLC trimmed its holdings in Innoviva, Inc. (NASDAQ:INVA) by 33.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,800 shares of the biotechnology company’s stock after selling 1,900 shares during the period. nVerses Capital LLC’s holdings in Innoviva were worth $62,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Innealta Capital LLC purchased a new position in shares of Innoviva in the second quarter worth $33,000. EdgeRock Capital LLC purchased a new stake in Innoviva in the 2nd quarter worth $31,000. SummerHaven Investment Management LLC boosted its holdings in shares of Innoviva by 1.7% during the 2nd quarter. SummerHaven Investment Management LLC now owns 59,853 shares of the biotechnology company’s stock valued at $982,000 after purchasing an additional 980 shares during the last quarter. Hennion & Walsh Asset Management Inc. purchased a new position in shares of Innoviva during the second quarter valued at about $167,000. Finally, SG Americas Securities LLC increased its holdings in shares of Innoviva by 797.4% in the second quarter. SG Americas Securities LLC now owns 81,500 shares of the biotechnology company’s stock worth $1,337,000 after purchasing an additional 72,418 shares during the last quarter. Institutional investors own 99.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on INVA. StockNews.com lowered Innoviva from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 6th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Innoviva in a research note on Tuesday, July 30th.

Innoviva Stock Performance

Innoviva stock opened at $19.69 on Thursday. Innoviva, Inc. has a 1-year low of $12.22 and a 1-year high of $19.75. The company’s 50-day moving average is $17.98 and its 200 day moving average is $16.29. The firm has a market capitalization of $1.23 billion, a P/E ratio of 8.87 and a beta of 0.57. The company has a debt-to-equity ratio of 0.67, a current ratio of 12.70 and a quick ratio of 11.40.

Innoviva (NASDAQ:INVA) last issued its quarterly earnings results on Wednesday, July 31st. The biotechnology company reported $0.68 earnings per share (EPS) for the quarter. The firm had revenue of $99.90 million during the quarter. Innoviva had a return on equity of 33.26% and a net margin of 44.00%. Research analysts forecast that Innoviva, Inc. will post 0.5 EPS for the current year.

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.