New York State Common Retirement Fund Has $2.44 Million Stock Position in Innoviva, Inc. (NASDAQ:INVA)

New York State Common Retirement Fund lessened its position in shares of Innoviva, Inc. (NASDAQ:INVA) by 1.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 152,211 shares of the biotechnology company’s stock after selling 1,717 shares during the quarter. New York State Common Retirement Fund’s holdings in Innoviva were worth $2,441,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new stake in shares of Innoviva during the third quarter worth $29,000. China Universal Asset Management Co. Ltd. boosted its position in Innoviva by 342.7% during the fourth 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 last quarter. Avantax Advisory Services Inc. acquired a new stake in Innoviva during the 3rd quarter worth about $137,000. Cornerstone Investment Partners LLC bought a new position in shares of Innoviva in the 4th quarter worth about $177,000. Finally, Profund Advisors LLC lifted its stake in shares of Innoviva by 7.9% in the 3rd quarter. Profund Advisors LLC now owns 11,879 shares of the biotechnology company’s stock valued at $154,000 after purchasing an additional 871 shares during the period. Institutional investors own 99.12% of the company’s stock.

Wall Street Analysts Forecast Growth

INVA has been the subject of a number of research analyst reports. TheStreet upgraded Innoviva from a “c” rating to a “b-” rating in a report on Thursday, February 29th. StockNews.com upgraded shares of Innoviva from a “hold” rating to a “buy” rating in a research report on Friday, March 29th.

Innoviva Stock Performance

Shares of INVA opened at $15.53 on Wednesday. The stock has a 50-day moving average of $14.97 and a 200-day moving average of $15.05. Innoviva, Inc. has a one year low of $11.55 and a one year high of $16.86. The company has a debt-to-equity ratio of 0.66, a current ratio of 9.03 and a quick ratio of 7.96. The company has a market cap of $981.96 million, a PE ratio of 7.12 and a beta of 0.57.

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

About Innoviva

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.