The Manufacturers Life Insurance Company Has $524,000 Stock Holdings in Innoviva, Inc. (NASDAQ:INVA)

The Manufacturers Life Insurance Company reduced its stake in shares of Innoviva, Inc. (NASDAQ:INVA) by 4.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,112 shares of the biotechnology company’s stock after selling 1,150 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Innoviva were worth $524,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. US Bancorp DE lifted its stake in Innoviva by 24.5% in the third quarter. US Bancorp DE now owns 2,875 shares of the biotechnology company’s stock valued at $56,000 after acquiring an additional 566 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Innoviva by 18.5% during the 3rd quarter. GAMMA Investing LLC now owns 4,119 shares of the biotechnology company’s stock worth $80,000 after buying an additional 643 shares in the last quarter. SummerHaven Investment Management LLC lifted its stake in shares of Innoviva by 1.7% in the 2nd quarter. SummerHaven Investment Management LLC now owns 59,853 shares of the biotechnology company’s stock valued at $982,000 after acquiring an additional 980 shares during the last quarter. Evergreen Capital Management LLC raised its stake in shares of Innoviva by 10.9% during the second quarter. Evergreen Capital Management LLC now owns 12,321 shares of the biotechnology company’s stock valued at $202,000 after acquiring an additional 1,209 shares during the last quarter. Finally, First Trust Direct Indexing L.P. raised its holdings in Innoviva by 18.4% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 12,013 shares of the biotechnology company’s stock worth $232,000 after purchasing an additional 1,868 shares during the last quarter. Institutional investors and hedge funds own 99.12% of the company’s stock.

Innoviva Stock Performance

NASDAQ:INVA opened at $18.58 on Friday. The company has a quick ratio of 1.64, a current ratio of 1.79 and a debt-to-equity ratio of 0.38. The company has a fifty day moving average of $19.47 and a 200-day moving average of $18.43. The firm has a market capitalization of $1.16 billion, a P/E ratio of 26.93 and a beta of 0.53. Innoviva, Inc. has a twelve month low of $14.32 and a twelve month high of $21.28.

Innoviva (NASDAQ:INVA) last posted its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.25). The firm had revenue of $89.51 million during the quarter. Innoviva had a net margin of 18.31% and a return on equity of 20.84%. As a group, sell-side analysts anticipate that Innoviva, Inc. will post 0.33 EPS for the current year.

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.