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

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

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Innoviva

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. US Bancorp DE grew its stake in 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 buying an additional 566 shares during the last quarter. KBC Group NV grew its stake in Innoviva by 73.9% in the 4th quarter. KBC Group NV now owns 4,100 shares of the biotechnology company’s stock valued at $71,000 after buying an additional 1,743 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in Innoviva by 75.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,962 shares of the biotechnology company’s stock valued at $86,000 after buying an additional 2,128 shares during the last quarter. FMR LLC grew its stake in Innoviva by 8.2% in the 3rd quarter. FMR LLC now owns 10,119 shares of the biotechnology company’s stock valued at $195,000 after buying an additional 771 shares during the last quarter. Finally, New Age Alpha Advisors LLC acquired a new position in Innoviva in the 4th quarter valued at about $176,000. 99.12% of the stock is owned by institutional investors.

Innoviva Stock Down 0.8 %

INVA traded down $0.14 during trading on Monday, hitting $18.08. The company had a trading volume of 263,826 shares, compared to its average volume of 575,875. The company has a market capitalization of $1.13 billion, a PE ratio of 26.20 and a beta of 0.55. Innoviva has a one year low of $14.32 and a one year high of $21.28. The firm’s 50-day moving average price is $18.11 and its 200 day moving average price is $18.88. The company has a quick ratio of 1.64, a current ratio of 1.79 and a debt-to-equity ratio of 0.38.

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.