Innoviva (INVA) reported second-quarter 2026 total revenue of $119.6 million, up 19% from $100.3 million a year earlier. The company reported a net loss of $83.4 million, or $1.14 basic loss per share, driven primarily by a decrease in fair value of equity and long-term investments.
Innoviva said royalty revenue from GSK was $59.8 million in the quarter, while net product sales were $51.8 million, including $36.6 million in U.S. sales. The company also launched Nortiva Bio, a wholly owned strategic healthcare asset focused on long-acting oral drug delivery.
- Total revenue $119.6 million, up 19% year over year.
- Net product sales $51.8 million, up 46% from the second quarter of 2025.
- U.S. net product sales $36.6 million, including $21.0 million from GIAPREZA, $12.0 million from XACDURO and $3.3 million from XERAVA.
- Income from operations $50.9 million, compared with $48.8 million a year earlier.
- Cash and cash equivalents $570.4 million as of June 30, 2026.
- Share repurchases 1,403,247 shares for $31.4 million during the quarter.
$INVA Hedge Fund Activity
We have seen 150 institutional investors add shares of $INVA stock to their portfolio, and 109 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- FRANKLIN RESOURCES INC removed 1,134,734 shares (-81.5%) from their portfolio in Q1 2026, for an estimated $26,439,302
- SARISSA CAPITAL MANAGEMENT LP removed 685,072 shares (-24.3%) from their portfolio in Q1 2026, for an estimated $15,962,177
- MILLENNIUM MANAGEMENT LLC added 669,146 shares (+41.6%) to their portfolio in Q1 2026, for an estimated $15,591,101
- TWO SIGMA INVESTMENTS, LP added 644,399 shares (+76.7%) to their portfolio in Q1 2026, for an estimated $15,014,496
- BLACKROCK, INC. added 631,070 shares (+5.9%) to their portfolio in Q1 2026, for an estimated $14,703,931
- GOLDMAN SACHS GROUP INC added 471,412 shares (+42.0%) to their portfolio in Q1 2026, for an estimated $10,983,899
- ARROWSTREET CAPITAL, LIMITED PARTNERSHIP removed 470,165 shares (-19.9%) from their portfolio in Q1 2026, for an estimated $10,954,844
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.
