Boston Partners Sells 187,798 Shares of Innoviva, Inc. (NASDAQ:INVA)

Boston Partners reduced its position in shares of Innoviva, Inc. (NASDAQ:INVA - Free Report) by 47.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 205,672 shares of the biotechnology company's stock after selling 187,798 shares during the period. Boston Partners owned about 0.32% of Innoviva worth $3,299,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in INVA. Quantbot Technologies LP acquired a new stake in shares of Innoviva during the third quarter worth $29,000. China Universal Asset Management Co. Ltd. raised its stake in Innoviva by 342.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 7,410 shares of the biotechnology company's stock worth $119,000 after acquiring an additional 5,736 shares during the period. Avantax Advisory Services Inc. bought a new position in Innoviva in the third quarter worth about $137,000. Profund Advisors LLC boosted its stake in Innoviva by 7.9% in the third 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. Finally, Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of Innoviva by 11.1% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 12,000 shares of the biotechnology company's stock valued at $156,000 after purchasing an additional 1,200 shares during the last quarter. 99.12% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on INVA. StockNews.com upgraded Innoviva from a "hold" rating to a "buy" rating in a research report on Friday, March 29th. TheStreet raised shares of Innoviva from a "c" rating to a "b-" rating in a report on Thursday, February 29th.

Innoviva Stock Performance

Shares of INVA remained flat at $15.98 during mid-day trading on Friday. The stock had a trading volume of 409,499 shares, compared to its average volume of 663,569. The company has a quick ratio of 9.17, a current ratio of 10.42 and a debt-to-equity ratio of 0.63. The firm's 50 day simple moving average is $15.08 and its 200-day simple moving average is $15.20. The company has a market cap of $1.01 billion, a PE ratio of 7.20 and a beta of 0.57. Innoviva, Inc. has a 52 week low of $12.22 and a 52 week high of $16.86.

Innoviva (NASDAQ:INVA - Get Free Report) last posted its quarterly earnings data on Thursday, February 29th. The biotechnology company reported $0.76 earnings per share for the quarter. The business had revenue of $85.84 million during the quarter. Innoviva had a net margin of 58.21% and a return on equity of 28.94%.

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.