Innoviva, Inc. (NASDAQ:INVA) Sees Significant Decrease in Short Interest

Innoviva, Inc. (NASDAQ:INVA) was the target of a significant decline in short interest in the month of November. As of November 30th, there was short interest totalling 10,730,000 shares, a decline of 7.5% from the November 15th total of 11,600,000 shares. Based on an average trading volume of 601,600 shares, the days-to-cover ratio is currently 17.8 days. Currently, 17.3% of the shares of the stock are sold short.

Innoviva Stock Performance

NASDAQ:INVA opened at $18.37 on Wednesday. The firm has a market capitalization of $1.15 billion, a PE ratio of 26.62 and a beta of 0.53. 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 has a 12-month low of $14.32 and a 12-month high of $21.28. The firm has a 50-day moving average price of $19.45 and a 200 day moving average price of $18.47.

Innoviva (NASDAQ:INVA) last issued its earnings results on Wednesday, November 6th. The biotechnology company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.25). The company had revenue of $89.51 million during the quarter. Innoviva had a return on equity of 20.84% and a net margin of 18.31%. Research analysts anticipate that Innoviva will post 0.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Innoviva

Large investors have recently made changes to their positions in the company. EdgeRock Capital LLC bought a new stake in shares of Innoviva during the second quarter worth $31,000. Innealta Capital LLC bought a new stake in Innoviva during the 2nd quarter worth about $33,000. US Bancorp DE raised its stake 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 worth $56,000 after acquiring an additional 566 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Innoviva by 18.5% during the third quarter. GAMMA Investing LLC now owns 4,119 shares of the biotechnology company’s stock valued at $80,000 after purchasing an additional 643 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of Innoviva by 8.2% in the third quarter. FMR LLC now owns 10,119 shares of the biotechnology company’s stock valued at $195,000 after purchasing an additional 771 shares in the last quarter. Institutional investors own 99.12% of the company’s stock.

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.