Denali Advisors LLC Sells 3,100 Shares of Innoviva, Inc. (NASDAQ:INVA)

Denali Advisors LLC cut its holdings in Innoviva, Inc. (NASDAQ:INVA) by 0.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 326,086 shares of the biotechnology company’s stock after selling 3,100 shares during the quarter. Innoviva makes up approximately 1.5% of Denali Advisors LLC’s holdings, making the stock its 19th largest holding. Denali Advisors LLC owned about 0.52% of Innoviva worth $4,970,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Baader Bank Aktiengesellschaft bought a new stake in Innoviva during the 4th quarter valued at approximately $257,000. Hillsdale Investment Management Inc. bought a new stake in Innoviva during the 4th quarter valued at approximately $4,663,000. CWA Asset Management Group LLC bought a new stake in Innoviva during the 4th quarter valued at approximately $4,070,000. Gerber LLC bought a new stake in Innoviva during the 4th quarter valued at approximately $550,000. Finally, Wellington Management Group LLP bought a new stake in Innoviva during the 4th quarter valued at approximately $1,940,000. 99.12% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on INVA shares. Cantor Fitzgerald started coverage on Innoviva in a research report on Tuesday, June 18th. They set an “overweight” rating on the stock. StockNews.com upgraded shares of Innoviva from a “hold” rating to a “buy” rating in a report on Friday, March 29th.

Innoviva Stock Down 1.0 %

Shares of INVA stock traded down $0.17 during trading hours on Wednesday, hitting $16.33. 158,746 shares of the company’s stock traded hands, compared to its average volume of 620,785. The stock’s fifty day simple moving average is $15.83 and its two-hundred day simple moving average is $15.67. Innoviva, Inc. has a 12-month low of $12.22 and a 12-month high of $16.86. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 7.43 and a beta of 0.57. The company has a quick ratio of 9.17, a current ratio of 10.42 and a debt-to-equity ratio of 0.63.

Innoviva (NASDAQ:INVA) last released its earnings results on Wednesday, May 8th. The biotechnology company reported $0.46 earnings per share (EPS) for the quarter. Innoviva had a net margin of 58.21% and a return on equity of 28.94%. The firm had revenue of $77.50 million during the quarter. On average, analysts expect that Innoviva, Inc. will post 1.09 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.