Pacer Advisors Inc. Has $50.87 Million Stake in Innoviva, Inc. (NASDAQ:INVA)

Pacer Advisors Inc. grew its holdings in Innoviva, Inc. (NASDAQ:INVA) by 4.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,932,113 shares of the biotechnology company’s stock after buying an additional 121,162 shares during the period. Pacer Advisors Inc. owned 4.68% of Innoviva worth $50,872,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. US Bancorp DE lifted its position 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 valued at $56,000 after buying an additional 566 shares during the last quarter. KBC Group NV increased its stake in shares of Innoviva by 73.9% during the fourth quarter. KBC Group NV now owns 4,100 shares of the biotechnology company’s stock worth $71,000 after purchasing an additional 1,743 shares during the period. GAMMA Investing LLC increased 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 worth $80,000 after purchasing an additional 643 shares during the period. FMR LLC increased its stake in shares of Innoviva by 8.2% during the third quarter. FMR LLC now owns 10,119 shares of the biotechnology company’s stock worth $195,000 after purchasing an additional 771 shares during the period. Finally, Walleye Capital LLC bought a new position in shares of Innoviva during the third quarter worth approximately $214,000. 99.12% of the stock is owned by institutional investors and hedge funds.

Innoviva Price Performance

Innoviva stock opened at $18.98 on Tuesday. The stock’s fifty day moving average price is $18.32 and its two-hundred day moving average price is $18.83. Innoviva, Inc. has a one year low of $14.32 and a one year high of $21.28. 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 firm has a market cap of $1.19 billion, a PE ratio of 27.51 and a beta of 0.54.

Innoviva (NASDAQ:INVA) last posted its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.25). Innoviva had a return on equity of 20.84% and a net margin of 18.31%. The company had revenue of $89.51 million for the quarter. As a group, research analysts expect that Innoviva, Inc. will post 0.33 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com lowered Innoviva from a “buy” rating to a “hold” rating in a research note on Tuesday, December 31st.

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.