Innoviva Incorporated (NASDAQ:INVA) Could Burn Your Long Portfolio After More Shorts

February 14, 2018 - By Hazel Jackson

 Innoviva Incorporated (NASDAQ:INVA) Could Burn Your Long Portfolio After More Shorts

The stock of Innoviva Incorporated (NASDAQ:INVA) registered an increase of 1.04% in short interest. INVA’s total short interest was 13.64M shares in February as published by FINRA. Its up 1.04% from 13.50M shares, reported previously. With 858,700 shares average volume, it will take short sellers 16 days to cover their INVA’s short positions. The short interest to Innoviva Incorporated’s float is 22.84%.

The stock increased 9.97% or $1.54 during the last trading session, reaching $16.99. About 3.99 million shares traded or 312.52% up from the average. Innoviva, Inc. (NASDAQ:INVA) has risen 9.71% since February 14, 2017 and is uptrending. It has underperformed by 6.99% the S&P500.

Innoviva, Inc. engages in the development and commercialization of bio-pharmaceuticals. The company has market cap of $1.84 billion. The Company’s portfolio of respiratory products include RELVAR/BREO ELLIPTA, and ANORO ELLIPTA (umeclidinium bromide/ vilanterol, UMEC/VI). It has a 19.89 P/E ratio. The company, under its the Long-Acting Beta2 Agonist (LABA) collaboration agreement and the strategic alliance agreement with Glaxo Group Limited (GSK), is entitled to receive royalties on the sales of RELVAR/BREO ELLIPTA; and a 15% of any future payments made by GSK under its agreements relating to the combination FF/UMEC/VI and the Bifunctional Muscarinic Antagonist-Beta2 Agonist program, as monotherapy and in combination with other therapeutically active components.

More notable recent Innoviva, Inc. (NASDAQ:INVA) news were published by: Businesswire.com which released: “Innoviva to Report Fourth Quarter Financial Results on February 8 at 5:00 pm EDT” on February 02, 2018, also Fool.com with their article: “Why Innoviva Inc. Stock Jumped Tuesday” published on February 13, 2018, Businesswire.com published: “Innoviva Reports Record Fourth Quarter and Full Year 2017 Financial Results” on February 08, 2018. More interesting news about Innoviva, Inc. (NASDAQ:INVA) were released by: Reuters.com and their article: “Drug company Innoviva settles with activist hedge fund Sarissa: sources” published on February 13, 2018 as well as Streetinsider.com‘s news article titled: “GlaxoSmithKline (GSK), Innoviva (INVA) Submit IMPACT Data to EMA to Support …” with publication date: February 14, 2018.

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