Caprock Group LLC Makes New Investment in Innoviva, Inc. (NASDAQ:INVA)

Caprock Group LLC purchased a new stake in Innoviva, Inc. (NASDAQ:INVA) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 11,878 shares of the biotechnology company’s stock, valued at approximately $229,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. EdgeRock Capital LLC acquired a new stake in Innoviva in the second quarter valued at approximately $31,000. Innealta Capital LLC bought a new stake in Innoviva during the 2nd quarter worth $33,000. Bessemer Group Inc. increased its holdings in Innoviva by 333.5% in the 1st quarter. Bessemer Group Inc. now owns 2,211 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 1,701 shares in the last quarter. US Bancorp DE raised its position in 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. Finally, GAMMA Investing LLC boosted its stake in shares of Innoviva by 53.7% during 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 in the last quarter. 99.12% of the stock is owned by institutional investors.

Innoviva Price Performance

Shares of INVA opened at $19.15 on Monday. The business has a 50-day moving average of $19.60 and a 200-day moving average of $18.12. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.79 and a quick ratio of 1.64. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 27.75 and a beta of 0.57. Innoviva, Inc. has a 1 year low of $13.57 and a 1 year high of $21.28.

Innoviva (NASDAQ:INVA) last released its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported $0.02 earnings per share (EPS) 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, equities research analysts anticipate that Innoviva, Inc. will post 0.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

INVA has been the subject of a number of research reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Innoviva in a report on Tuesday, July 30th. StockNews.com lowered 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.