Baupost Groupma Lowers stake in Innoviva Inc (INVA)

Innoviva Inc (INVA) : Baupost Groupma reduced its stake in Innoviva Inc by 11.13% during the most recent quarter end. The investment management company now holds a total of 17,610,091 shares of Innoviva Inc which is valued at $219,421,734 after selling 2,205,892 shares in Innoviva Inc , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Innoviva Inc makes up approximately 2.81% of Baupost Groupma’s portfolio.

Other Hedge Funds, Including , Parametric Portfolio Associates reduced its stake in INVA by selling 13,985 shares or 12.98% in the most recent quarter. The Hedge Fund company now holds 93,740 shares of INVA which is valued at $1,168,000. Engineers Gate Manager Lp added INVA to its portfolio by purchasing 65,625 company shares during the most recent quarter which is valued at $817,688. Innoviva Inc makes up approx 0.06% of Engineers Gate Manager Lp’s portfolio.Blackrock Group Ltd boosted its stake in INVA in the latest quarter, The investment management firm added 6,271 additional shares and now holds a total of 75,085 shares of Innoviva Inc which is valued at $935,559.Iridian Asset Managementct reduced its stake in INVA by selling 1,389,160 shares or 11.4% in the most recent quarter. The Hedge Fund company now holds 10,792,986 shares of INVA which is valued at $135,020,255. Innoviva Inc makes up approx 1.20% of Iridian Asset Managementct’s portfolio.Diligent Investors reduced its stake in INVA by selling 650 shares or 1.73% in the most recent quarter. The Hedge Fund company now holds 37,010 shares of INVA which is valued at $476,319. Innoviva Inc makes up approx 0.43% of Diligent Investors’s portfolio.

On the company’s financial health, Innoviva Inc reported $0.13 EPS for the quarter, based on the information available during the earnings call on Jul 28, 2016. Analyst had a consensus estimate of $0.13. The company had revenue of $32.47 million for the quarter, compared to analysts expectations of $30.63 million. The company’s revenue was up 204.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.07 EPS.

Innoviva Inc. formerly Theravance Inc. is an asset management company that is focused on the development commercialization and financial management of bio-pharmaceuticals. The Company is focused on managing its respiratory assets partnered with Glaxo Group Limited (GSK) including RELVAR/BREO ELLIPTA (fluticasone furoate/ vilanterol FF/VI) and ANORO ELLIPTA (umeclidinium bromide/ vilanterol UMEC/VI) with the intention of providing capital returns to stockholders. Its RELVAR/BREO is a once-a-day combination inhaled respiratory medicine consisting of vilanterol (VI) a long-acting beta2 agonist (LABA) and fluticasone furoate (FF) an inhaled corticosteroid (FF/VI) delivered through the ELLIPTA dry powder inhaler. Its ANORO ELLIPTA is a dual bronchodilator consisting of umeclidinium (UMEC) a long-acting muscarinic antagonist (LAMA) and vilanterol (VI) which is used for the treatment of chronic obstructive pulmonary diseases (COPD).

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