Martingale Asset Management L P Has $1.50 Million Holdings in Innoviva, Inc. (NASDAQ:INVA)

Martingale Asset Management L P raised its stake in Innoviva, Inc. (NASDAQ:INVA) by 0.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,842 shares of the biotechnology company’s stock after acquiring an additional 550 shares during the quarter. Martingale Asset Management L P owned about 0.12% of Innoviva worth $1,503,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of INVA. EdgeRock Capital LLC bought a new position in Innoviva during the 2nd quarter worth approximately $31,000. Innealta Capital LLC acquired a new stake in shares of Innoviva in the second quarter valued at approximately $33,000. US Bancorp DE raised its holdings in shares of Innoviva by 24.5% in the third quarter. US Bancorp DE now owns 2,875 shares of the biotechnology company’s stock valued at $56,000 after purchasing an additional 566 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Innoviva by 53.7% in the second quarter. GAMMA Investing LLC now owns 3,476 shares of the biotechnology company’s stock valued at $57,000 after purchasing an additional 1,214 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. acquired a new position in Innoviva during the second quarter worth $167,000. Institutional investors own 99.12% of the company’s stock.

Innoviva Trading Down 0.3 %

Shares of Innoviva stock opened at $18.99 on Monday. The firm has a 50-day moving average of $19.54 and a 200-day moving average of $18.24. The stock has a market cap of $1.19 billion, a PE ratio of 27.52 and a beta of 0.57. Innoviva, Inc. has a 52-week low of $13.66 and a 52-week high of $21.28. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.64 and a current ratio of 1.79.

Innoviva (NASDAQ:INVA) last posted its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.25). Innoviva had a return on equity of 20.84% and a net margin of 18.31%. The firm had revenue of $89.51 million for the quarter. As a group, sell-side analysts forecast that Innoviva, Inc. will post 0.33 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Innoviva from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 6th.

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.