Westfield Capital Management Co. LP Purchases 569,117 Shares of Innoviva, Inc. (NASDAQ:INVA)

Westfield Capital Management Co. LP grew its position in shares of Innoviva, Inc. (NASDAQ:INVA) by 27.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,614,127 shares of the biotechnology company’s stock after purchasing an additional 569,117 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Innoviva were worth $41,931,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Quantbot Technologies LP bought a new stake in shares of Innoviva in the 3rd quarter valued at $29,000. China Universal Asset Management Co. Ltd. increased its stake in shares of Innoviva by 342.7% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 7,410 shares of the biotechnology company’s stock valued at $119,000 after acquiring an additional 5,736 shares in the last quarter. Avantax Advisory Services Inc. bought a new stake in shares of Innoviva in the 3rd quarter valued at $137,000. Quadrant Capital Group LLC increased its stake in shares of Innoviva by 13.2% in the 4th quarter. Quadrant Capital Group LLC now owns 9,042 shares of the biotechnology company’s stock valued at $145,000 after acquiring an additional 1,056 shares in the last quarter. Finally, Profund Advisors LLC increased its stake in shares of Innoviva by 7.9% in the 3rd 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 in the last quarter. Institutional investors own 99.12% of the company’s stock.

Innoviva Stock Down 0.1 %

NASDAQ INVA traded down $0.01 during mid-day trading on Friday, hitting $15.78. The company’s stock had a trading volume of 271,452 shares, compared to its average volume of 548,974. The company’s 50 day simple moving average is $15.20 and its 200 day simple moving average is $15.30. Innoviva, Inc. has a twelve month low of $12.22 and a twelve month high of $16.86. The company has a current ratio of 10.42, a quick ratio of 9.17 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $985.38 million, a price-to-earnings ratio of 7.11 and a beta of 0.57.

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

Wall Street Analyst Weigh In

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

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.