Empyrean Capital Partners Lp Lowers stake in Innoviva Inc (INVA)

Innoviva Inc (INVA) : Empyrean Capital Partners Lp reduced its stake in Innoviva Inc by 33.07% during the most recent quarter end. The investment management company now holds a total of 2,239,315 shares of Innoviva Inc which is valued at $25,013,149 after selling 1,106,251 shares in Innoviva Inc , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Innoviva Inc makes up approximately 2.39% of Empyrean Capital Partners Lp’s portfolio.

Other Hedge Funds, Including , Millennium Management reduced its stake in INVA by selling 106,402 shares or 18.49% in the most recent quarter. The Hedge Fund company now holds 468,921 shares of INVA which is valued at $5,237,848. Innoviva Inc makes up approx 0.01% of Millennium Management’s portfolio.Iridian Asset Managementct reduced its stake in INVA by selling 329,572 shares or 3.05% in the most recent quarter. The Hedge Fund company now holds 10,463,414 shares of INVA which is valued at $112,586,335. Innoviva Inc makes up approx 1.01% of Iridian Asset Managementct’s portfolio. Teacher Retirement System Of Texas sold out all of its stake in INVA during the most recent quarter. The investment firm sold 11,183 shares of INVA which is valued $107,804.State Of New Jersey Common Pension Fund D reduced its stake in INVA by selling 90,000 shares or 20.5% in the most recent quarter. The Hedge Fund company now holds 349,108 shares of INVA which is valued at $3,557,411. Innoviva Inc makes up approx 0.02% of State Of New Jersey Common Pension Fund D’s portfolio.

On the company’s financial health, Innoviva Inc reported $0.17 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Oct 27, 2016. Analyst had a consensus of $0.20. The company had revenue of $33.30 million for the quarter, compared to analysts expectations of $39.86 million. The company’s revenue was up 145.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.04 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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