Allspring Global Investments Holdings LLC Has $1.54 Million Stock Holdings in Innoviva, Inc. (NASDAQ:INVA)

Allspring Global Investments Holdings LLC lessened its holdings in Innoviva, Inc. (NASDAQ:INVA - Free Report) by 36.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 96,064 shares of the biotechnology company's stock after selling 55,980 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.15% of Innoviva worth $1,541,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Westfield Capital Management Co. LP boosted its holdings in Innoviva by 6.7% in the third quarter. Westfield Capital Management Co. LP now owns 2,045,010 shares of the biotechnology company's stock worth $26,565,000 after purchasing an additional 127,759 shares during the period. Pacer Advisors Inc. boosted its holdings in Innoviva by 119,140.3% in the fourth quarter. Pacer Advisors Inc. now owns 1,728,984 shares of the biotechnology company's stock worth $27,733,000 after purchasing an additional 1,727,534 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Innoviva by 16.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 797,803 shares of the biotechnology company's stock worth $10,363,000 after purchasing an additional 115,009 shares during the period. Invesco Ltd. boosted its holdings in Innoviva by 55.2% in the third quarter. Invesco Ltd. now owns 661,978 shares of the biotechnology company's stock worth $8,599,000 after purchasing an additional 235,330 shares during the period. Finally, UBS Group AG boosted its holdings in Innoviva by 223.8% in the third quarter. UBS Group AG now owns 626,355 shares of the biotechnology company's stock worth $8,136,000 after purchasing an additional 432,940 shares during the period. Institutional investors and hedge funds own 99.12% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on INVA shares. TheStreet upgraded shares of Innoviva from a "c" rating to a "b-" rating in a research report on Thursday, February 29th. StockNews.com upgraded shares of Innoviva from a "hold" rating to a "buy" rating in a research report on Friday, March 29th.

Innoviva Stock Performance

Shares of Innoviva stock traded up $0.24 during trading on Tuesday, hitting $15.17. 1,492,750 shares of the stock were exchanged, compared to its average volume of 681,284. The stock's fifty day moving average is $15.05 and its 200 day moving average is $14.90. The stock has a market cap of $959.20 million, a PE ratio of 6.95 and a beta of 0.57. The company has a debt-to-equity ratio of 0.66, a quick ratio of 7.96 and a current ratio of 9.03. Innoviva, Inc. has a 12 month low of $11.37 and a 12 month high of $16.86.

Innoviva (NASDAQ:INVA - Get Free Report) last announced its 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 net margin of 57.89% and a return on equity of 30.37%.

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.