Innoviva, Inc. (NASDAQ:INVA) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its stake in shares of Innoviva, Inc. (NASDAQ:INVA - Free Report) by 33.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 50,015 shares of the biotechnology company's stock after selling 24,827 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.08% of Innoviva worth $907,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Innoviva by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 6,312,631 shares of the biotechnology company's stock worth $109,524,000 after acquiring an additional 84,934 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Innoviva by 4.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,919,518 shares of the biotechnology company's stock worth $85,354,000 after acquiring an additional 226,592 shares in the last quarter. Systematic Financial Management LP boosted its stake in shares of Innoviva by 2.5% during the 4th quarter. Systematic Financial Management LP now owns 2,029,069 shares of the biotechnology company's stock worth $35,204,000 after acquiring an additional 49,996 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Innoviva by 35.2% during the 4th quarter. American Century Companies Inc. now owns 1,424,315 shares of the biotechnology company's stock worth $24,712,000 after acquiring an additional 370,795 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Innoviva by 7.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,146,243 shares of the biotechnology company's stock worth $19,887,000 after acquiring an additional 81,142 shares in the last quarter. 99.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on INVA. Wall Street Zen raised shares of Innoviva from a "hold" rating to a "buy" rating in a research note on Wednesday, April 30th. Cantor Fitzgerald started coverage on shares of Innoviva in a research note on Friday. They set an "overweight" rating and a $26.00 target price on the stock.

Innoviva Price Performance

Innoviva stock traded down $0.29 during midday trading on Friday, reaching $18.77. The company had a trading volume of 764,766 shares, compared to its average volume of 705,522. The company has a market capitalization of $1.18 billion, a P/E ratio of -18.58 and a beta of 0.37. Innoviva, Inc. has a 12-month low of $16.67 and a 12-month high of $22.00. The firm's fifty day simple moving average is $19.79 and its 200-day simple moving average is $18.58. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.48 and a quick ratio of 2.30.

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

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.