Hussman Strategic Advisors Inc. Has $2.92 Million Holdings in Innoviva, Inc. (NASDAQ:INVA)

Hussman Strategic Advisors Inc. grew its stake in shares of Innoviva, Inc. (NASDAQ:INVA) by 33.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 168,000 shares of the biotechnology company’s stock after acquiring an additional 42,000 shares during the period. Innoviva accounts for 0.9% of Hussman Strategic Advisors Inc.’s holdings, making the stock its 22nd largest position. Hussman Strategic Advisors Inc.’s holdings in Innoviva were worth $2,915,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. Principal Financial Group Inc. lifted its position in Innoviva by 3.8% during the fourth quarter. Principal Financial Group Inc. now owns 297,776 shares of the biotechnology company’s stock worth $5,166,000 after acquiring an additional 10,999 shares during the last quarter. Rhumbline Advisers raised its position in shares of Innoviva by 2.1% in the fourth quarter. Rhumbline Advisers now owns 187,318 shares of the biotechnology company’s stock valued at $3,250,000 after buying an additional 3,931 shares in the last quarter. Entropy Technologies LP acquired a new stake in shares of Innoviva in the fourth quarter valued at approximately $248,000. Empowered Funds LLC raised its position in shares of Innoviva by 5.1% in the fourth quarter. Empowered Funds LLC now owns 100,859 shares of the biotechnology company’s stock valued at $1,750,000 after buying an additional 4,895 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its position in shares of Innoviva by 10.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 13,274 shares of the biotechnology company’s stock valued at $230,000 after buying an additional 1,241 shares in the last quarter. 99.12% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Innoviva from a “buy” rating to a “hold” rating in a research report on Thursday, February 13th.

Innoviva Price Performance

NASDAQ INVA opened at $18.03 on Thursday. 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, Inc. has a 1-year low of $14.32 and a 1-year high of $21.28. The company has a 50 day moving average of $18.08 and a 200-day moving average of $18.87. The company has a market cap of $1.13 billion, a price-to-earnings ratio of 26.13 and a beta of 0.55.

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.