The Manufacturers Life Insurance Company Sells 2,148 Shares of Innoviva, Inc. (NASDAQ:INVA)

The Manufacturers Life Insurance Company lowered its position in Innoviva, Inc. (NASDAQ:INVA) by 7.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 28,262 shares of the biotechnology company’s stock after selling 2,148 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Innoviva were worth $463,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in INVA. EdgeRock Capital LLC bought a new position in shares of Innoviva in the second quarter worth $31,000. Bessemer Group Inc. increased its holdings in shares of Innoviva by 333.5% in the first quarter. Bessemer Group Inc. now owns 2,211 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 1,701 shares during the period. Innealta Capital LLC bought a new position in shares of Innoviva in the second quarter worth $33,000. GAMMA Investing LLC increased its holdings in shares of Innoviva by 124.0% in the first quarter. GAMMA Investing LLC now owns 2,262 shares of the biotechnology company’s stock worth $34,000 after purchasing an additional 1,252 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of Innoviva in the first quarter worth $138,000. Institutional investors own 99.12% of the company’s stock.

Innoviva Stock Up 1.7 %

INVA opened at $20.21 on Thursday. The stock has a market cap of $1.26 billion, a PE ratio of 12.25 and a beta of 0.57. The company has a quick ratio of 11.40, a current ratio of 12.70 and a debt-to-equity ratio of 0.67. Innoviva, Inc. has a 52 week low of $12.22 and a 52 week high of $20.34. The business’s fifty day simple moving average is $19.18 and its 200 day simple moving average is $17.19.

Innoviva (NASDAQ:INVA) last released its earnings results on Wednesday, July 31st. The biotechnology company reported $0.68 EPS for the quarter. Innoviva had a return on equity of 33.26% and a net margin of 44.00%. The business had revenue of $99.90 million for the quarter. As a group, research analysts expect that Innoviva, Inc. will post 0.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

INVA has been the topic of a number of research analyst reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Innoviva in a research note on Tuesday, July 30th. StockNews.com cut Innoviva from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 6th.

Innoviva Company 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.