Louisiana State Employees Retirement System Sells 1,000 Shares of Innoviva, Inc. (NASDAQ:INVA)

Louisiana State Employees Retirement System trimmed its position in Innoviva, Inc. (NASDAQ:INVA) by 3.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 26,600 shares of the biotechnology company’s stock after selling 1,000 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Innoviva were worth $514,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. EdgeRock Capital LLC bought a new stake in shares of Innoviva in the 2nd quarter valued at about $31,000. Innealta Capital LLC bought a new stake in shares of Innoviva in the 2nd quarter valued at about $33,000. Bessemer Group Inc. raised its holdings in shares of Innoviva by 333.5% in the 1st quarter. Bessemer Group Inc. now owns 2,211 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 1,701 shares during the period. GAMMA Investing LLC raised its holdings in Innoviva by 53.7% in the 2nd quarter. GAMMA Investing LLC now owns 3,476 shares of the biotechnology company’s stock valued at $57,000 after acquiring an additional 1,214 shares during the period. Finally, SG Americas Securities LLC bought a new position in Innoviva in the 1st quarter valued at about $138,000. 99.12% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on INVA shares. Cantor Fitzgerald reissued an “overweight” rating on shares of Innoviva in a report on Tuesday, July 30th. StockNews.com cut shares of Innoviva from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 6th.

Innoviva Stock Up 0.4 %

Innoviva stock opened at $19.43 on Wednesday. The company’s 50-day moving average price is $19.56 and its two-hundred day moving average price is $17.73. Innoviva, Inc. has a twelve month low of $13.31 and a twelve month high of $20.37. The stock has a market cap of $1.22 billion, a P/E ratio of 11.78 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 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.