Innoviva (NASDAQ:INVA) Cut to Hold at StockNews.com

StockNews.com cut shares of Innoviva (NASDAQ:INVA) from a buy rating to a hold rating in a report released on Saturday morning.

Innoviva Stock Performance

Shares of INVA opened at $18.08 on Friday. The firm has a 50-day moving average of $18.05 and a 200-day moving average of $18.87. Innoviva has a one year low of $14.32 and a one year high of $21.28. The company has a market cap of $1.13 billion, a PE ratio of 26.20 and a beta of 0.55. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.79 and a quick ratio of 1.64.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. US Bancorp DE grew its position in shares of Innoviva by 24.5% in the 3rd quarter. US Bancorp DE now owns 2,875 shares of the biotechnology company’s stock valued at $56,000 after acquiring an additional 566 shares during the period. KBC Group NV lifted its stake in shares of Innoviva by 73.9% during the 4th quarter. KBC Group NV now owns 4,100 shares of the biotechnology company’s stock worth $71,000 after buying an additional 1,743 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Innoviva by 75.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,962 shares of the biotechnology company’s stock worth $86,000 after buying an additional 2,128 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in shares of Innoviva during the 4th quarter worth about $176,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Innoviva during the 4th quarter worth about $184,000. Institutional investors own 99.12% of the company’s stock.

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.