Exchange Traded Concepts LLC Has $3.19 Million Holdings in Innoviva, Inc. (NASDAQ:INVA)

Exchange Traded Concepts LLC boosted its stake in Innoviva, Inc. (NASDAQ:INVA - Free Report) by 8.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 176,025 shares of the biotechnology company's stock after purchasing an additional 14,020 shares during the quarter. Exchange Traded Concepts LLC owned about 0.28% of Innoviva worth $3,191,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of INVA. Rhumbline Advisers lifted its stake in Innoviva by 2.1% during the fourth quarter. Rhumbline Advisers now owns 187,318 shares of the biotechnology company's stock worth $3,250,000 after purchasing an additional 3,931 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Innoviva by 3.8% during the 4th quarter. Principal Financial Group Inc. now owns 297,776 shares of the biotechnology company's stock worth $5,166,000 after buying an additional 10,999 shares in the last quarter. Hussman Strategic Advisors Inc. lifted its position in shares of Innoviva by 33.3% during the 4th quarter. Hussman Strategic Advisors Inc. now owns 168,000 shares of the biotechnology company's stock worth $2,915,000 after buying an additional 42,000 shares during the last quarter. Illinois Municipal Retirement Fund boosted its stake in Innoviva by 2.8% in the fourth quarter. Illinois Municipal Retirement Fund now owns 29,066 shares of the biotechnology company's stock valued at $504,000 after buying an additional 784 shares in the last quarter. Finally, QRG Capital Management Inc. grew its position in Innoviva by 4.4% in the fourth quarter. QRG Capital Management Inc. now owns 89,709 shares of the biotechnology company's stock valued at $1,556,000 after acquiring an additional 3,769 shares during the last quarter. Institutional investors own 99.12% of the company's stock.

Wall Street Analysts Forecast Growth

INVA has been the subject of a number of research reports. Scotiabank began coverage on shares of Innoviva in a report on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 target price for the company. Wall Street Zen raised shares of Innoviva from a "hold" rating to a "buy" rating in a research note on Wednesday, April 30th.

Innoviva Price Performance

Shares of INVA traded down $0.44 during trading hours on Friday, reaching $21.02. The stock had a trading volume of 397,366 shares, compared to its average volume of 682,152. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.30 and a current ratio of 2.48. Innoviva, Inc. has a 12 month low of $15.70 and a 12 month high of $22.00. The stock has a market capitalization of $1.32 billion, a PE ratio of -20.75 and a beta of 0.37. The company's 50-day moving average is $19.33 and its two-hundred day moving average is $18.43.

Innoviva (NASDAQ:INVA - Get Free Report) last posted its earnings results on Wednesday, May 7th. The biotechnology company reported $0.25 EPS for the quarter. Innoviva had a positive return on equity of 15.77% and a negative net margin of 16.15%. The firm had revenue of $88.63 million during the quarter. Research analysts expect that Innoviva, Inc. will post 0.33 EPS for the current year.

Innoviva Company 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.