Innoviva, Inc. (NASDAQ:INVA) Short Interest Update

Innoviva, Inc. (NASDAQ:INVA) was the recipient of a large decrease in short interest in January. As of January 31st, there was short interest totalling 8,810,000 shares, a decrease of 10.2% from the January 15th total of 9,810,000 shares. Based on an average trading volume of 680,800 shares, the days-to-cover ratio is presently 12.9 days. Approximately 14.2% of the company’s stock are short sold.

Hedge Funds Weigh In On Innoviva

Several institutional investors have recently bought and sold shares of INVA. Vanguard Group Inc. raised its stake in shares of Innoviva by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 6,312,631 shares of the biotechnology company’s stock valued at $109,524,000 after buying an additional 84,934 shares during the period. Dimensional Fund Advisors LP raised its stake in Innoviva by 4.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,919,518 shares of the biotechnology company’s stock valued at $85,354,000 after acquiring an additional 226,592 shares during the period. Pacer Advisors Inc. raised its stake in Innoviva by 4.3% in the 4th quarter. Pacer Advisors Inc. now owns 2,932,113 shares of the biotechnology company’s stock valued at $50,872,000 after acquiring an additional 121,162 shares during the period. Systematic Financial Management LP lifted its holdings in Innoviva by 2.5% during the fourth quarter. Systematic Financial Management LP now owns 2,029,069 shares of the biotechnology company’s stock valued at $35,204,000 after purchasing an additional 49,996 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in Innoviva by 35.2% during the fourth quarter. American Century Companies Inc. now owns 1,424,315 shares of the biotechnology company’s stock worth $24,712,000 after purchasing an additional 370,795 shares during the period. Hedge funds and other institutional investors own 99.12% of the company’s stock.

Innoviva Stock Performance

Shares of NASDAQ:INVA traded down $0.14 during midday trading on Monday, reaching $18.08. The company had a trading volume of 263,826 shares, compared to its average volume of 575,875. The stock has a market cap of $1.13 billion, a P/E ratio of 26.20 and a beta of 0.55. The company’s 50 day moving average price is $18.11 and its 200 day moving average price is $18.88. The company has a current ratio of 1.79, a quick ratio of 1.64 and a debt-to-equity ratio of 0.38. Innoviva has a 52-week low of $14.32 and a 52-week high of $21.28.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Innoviva from a “buy” rating to a “hold” rating in a research report on Thursday.

About Innoviva

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.