New York State Teachers Retirement System Trims Stock Position in Innoviva, Inc. (NASDAQ:INVA)

New York State Teachers Retirement System lessened its stake in shares of Innoviva, Inc. (NASDAQ:INVA) by 2.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 57,210 shares of the biotechnology company’s stock after selling 1,508 shares during the quarter. New York State Teachers Retirement System’s holdings in Innoviva were worth $918,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. China Universal Asset Management Co. Ltd. increased its holdings in shares of Innoviva by 342.7% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 7,410 shares of the biotechnology company’s stock valued at $119,000 after acquiring an additional 5,736 shares during the period. Ritholtz Wealth Management acquired a new position in shares of Innoviva in the 4th quarter valued at $213,000. Pacer Advisors Inc. increased its holdings in shares of Innoviva by 119,140.3% in the 4th quarter. Pacer Advisors Inc. now owns 1,728,984 shares of the biotechnology company’s stock valued at $27,733,000 after acquiring an additional 1,727,534 shares during the period. Exchange Traded Concepts LLC increased its holdings in shares of Innoviva by 1.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 158,586 shares of the biotechnology company’s stock valued at $2,544,000 after acquiring an additional 1,628 shares during the period. Finally, Walleye Capital LLC acquired a new position in shares of Innoviva in the 3rd quarter valued at $201,000. Hedge funds and other institutional investors own 99.12% of the company’s stock.

Innoviva Stock Performance

Shares of INVA opened at $14.69 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 7.96 and a current ratio of 9.03. The stock has a market capitalization of $928.85 million, a P/E ratio of 6.74 and a beta of 0.57. The company’s fifty day moving average is $15.08 and its two-hundred day moving average is $14.85. Innoviva, Inc. has a 1 year low of $11.32 and a 1 year high of $16.86.

Innoviva (NASDAQ:INVA) last posted its quarterly earnings results on Thursday, February 29th. The biotechnology company reported $0.76 earnings per share for the quarter. Innoviva had a net margin of 57.89% and a return on equity of 30.37%. The business had revenue of $85.84 million for the quarter.

Analyst Upgrades and Downgrades

INVA has been the topic of several recent research reports. StockNews.com raised shares of Innoviva from a “hold” rating to a “buy” rating in a research note on Friday, March 29th. TheStreet raised shares of Innoviva from a “c” rating to a “b-” rating in a research note on Thursday, February 29th.

Innoviva Profile

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; GIAPREZA (angiotensin II), a vasoconstrictor to increase blood pressure in adults with septic or other distributive shock; XERAVA (eravacycline) for the treatment of complicated intra-abdominal infections in adults; and XACDURO, a beta lactamase inhibitor for the treatment of hospital-acquired bacterial pneumonia and ventilator-associated bacterial pneumonia.