American International Group Inc. decreased its position in shares of Innoviva, Inc. (NASDAQ:INVA – Free Report) by 4.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,134 shares of the biotechnology company’s stock after selling 1,379 shares during the quarter. American International Group Inc.’s holdings in Innoviva were worth $422,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. CWM LLC boosted its stake in shares of Innoviva by 275.4% during the 1st quarter. CWM LLC now owns 2,620 shares of the biotechnology company’s stock worth $29,000 after acquiring an additional 1,922 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Innoviva by 970.2% in the first quarter. Signaturefd LLC now owns 2,729 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 2,474 shares in the last quarter. Captrust Financial Advisors lifted its holdings in shares of Innoviva by 362.2% in the first quarter. Captrust Financial Advisors now owns 2,699 shares of the biotechnology company’s stock valued at $52,000 after purchasing an additional 2,115 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Innoviva in the first quarter valued at about $76,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Innoviva in the first quarter valued at about $109,000. Hedge funds and other institutional investors own 99.12% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on INVA. TheStreet downgraded shares of Innoviva from a “b-” rating to a “c” rating in a report on Friday, August 4th. StockNews.com raised shares of Innoviva from a “hold” rating to a “buy” rating in a report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Innoviva presently has a consensus rating of “Hold” and a consensus price target of $15.17.
Innoviva Price Performance
NASDAQ:INVA opened at $13.72 on Friday. The firm has a market cap of $879.31 million, a price-to-earnings ratio of 31.18 and a beta of 0.50. The company has a current ratio of 8.43, a quick ratio of 7.31 and a debt-to-equity ratio of 0.71. The company’s 50-day moving average is $13.08 and its two-hundred day moving average is $13.01. Innoviva, Inc. has a 12-month low of $10.64 and a 12-month high of $14.08.
Innoviva (NASDAQ:INVA – Get Free Report) last released its earnings results on Wednesday, November 1st. The biotechnology company reported $0.98 earnings per share for the quarter. Innoviva had a return on equity of 24.11% and a net margin of 17.17%. The firm had revenue of $67.26 million for the quarter.
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; and TRELEGY ELLIPTA, a once-daily combination medicine consisting of an ICS, LAMA, and LABA.
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