Renaissance Technologies LLC Decreases Holdings in Innoviva, Inc. (NASDAQ:INVA)

Renaissance Technologies LLC trimmed its holdings in shares of Innoviva, Inc. (NASDAQ:INVA) by 0.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,325,907 shares of the biotechnology company’s stock after selling 39,500 shares during the quarter. Renaissance Technologies LLC owned 6.93% of Innoviva worth $70,945,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in INVA. Victory Capital Management Inc. raised its position in shares of Innoviva by 14.1% during the 4th quarter. Victory Capital Management Inc. now owns 12,600 shares of the biotechnology company’s stock valued at $202,000 after buying an additional 1,558 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Innoviva by 17.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 933,259 shares of the biotechnology company’s stock valued at $14,969,000 after buying an additional 135,456 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Innoviva by 87.0% during the 4th quarter. BNP Paribas Financial Markets now owns 57,979 shares of the biotechnology company’s stock valued at $930,000 after buying an additional 26,980 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Innoviva by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,516,999 shares of the biotechnology company’s stock valued at $72,454,000 after buying an additional 66,295 shares in the last quarter. Finally, Avantax Advisory Services Inc. raised its position in shares of Innoviva by 18.1% during the 4th quarter. Avantax Advisory Services Inc. now owns 12,417 shares of the biotechnology company’s stock valued at $199,000 after buying an additional 1,907 shares in the last quarter. 99.12% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

INVA has been the topic of several recent research reports. Cantor Fitzgerald restated an “overweight” rating on shares of Innoviva in a research report on Tuesday, July 30th. StockNews.com lowered shares of Innoviva from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 6th.

Innoviva Stock Performance

Innoviva stock opened at $20.04 on Tuesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 12.70 and a quick ratio of 11.40. Innoviva, Inc. has a 1-year low of $12.22 and a 1-year high of $20.19. The firm has a market capitalization of $1.25 billion, a P/E ratio of 9.04 and a beta of 0.57. The company’s 50-day moving average is $18.41 and its 200 day moving average is $16.49.

Innoviva (NASDAQ:INVA) last posted its quarterly earnings data on Wednesday, July 31st. The biotechnology company reported $0.68 earnings per share for the quarter. Innoviva had a net margin of 44.00% and a return on equity of 33.26%. The company had revenue of $99.90 million for the quarter. Research analysts forecast that Innoviva, Inc. will post 0.5 EPS for the current year.

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.