World Investment Advisors LLC Invests $217,000 in Innoviva, Inc. (NASDAQ:INVA)

World Investment Advisors LLC bought a new stake in shares of Innoviva, Inc. (NASDAQ:INVA) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 11,245 shares of the biotechnology company’s stock, valued at approximately $217,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Hennion & Walsh Asset Management Inc. bought a new position in Innoviva in the second quarter worth $167,000. EdgeRock Capital LLC bought a new position in shares of Innoviva in the 2nd quarter worth about $31,000. Innealta Capital LLC purchased a new position in Innoviva during the 2nd quarter valued at about $33,000. Ritholtz Wealth Management lifted its position in Innoviva by 68.3% during the 2nd quarter. Ritholtz Wealth Management now owns 58,425 shares of the biotechnology company’s stock valued at $958,000 after acquiring an additional 23,718 shares during the period. Finally, Chase Investment Counsel Corp boosted its stake in Innoviva by 8.1% during the second quarter. Chase Investment Counsel Corp now owns 80,000 shares of the biotechnology company’s stock worth $1,312,000 after acquiring an additional 6,000 shares in the last quarter. Hedge funds and other institutional investors own 99.12% of the company’s stock.

Innoviva Stock Performance

Innoviva stock opened at $17.93 on Friday. The stock’s 50 day moving average is $19.35 and its 200 day moving average is $18.48. The company has a market capitalization of $1.12 billion, a P/E ratio of 25.99 and a beta of 0.53. Innoviva, Inc. has a twelve month low of $14.32 and a twelve month high of $21.28. 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 (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 the consensus estimate of $0.27 by ($0.25). The firm 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%. On average, equities research analysts predict that Innoviva, Inc. will post 0.33 earnings per share for the current fiscal year.

About Innoviva

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.