California Public Employees Retirement System Has $2.68 Million Stake in Innoviva, Inc. (NASDAQ:INVA)
California Public Employees Retirement System decreased its position in Innoviva, Inc. (NASDAQ:INVA) by 4.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 193,700 shares of the biotechnology company’s stock after selling 8,400 shares during the period. California Public Employees Retirement System owned 0.18% of Innoviva worth $2,679,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of INVA. ARP Americas LLC purchased a new stake in Innoviva during the first quarter worth $173,000. Acadian Asset Management LLC bought a new position in shares of Innoviva during the first quarter worth approximately $2,061,000. Louisiana State Employees Retirement System raised its position in shares of Innoviva by 1.9% in the first quarter. Louisiana State Employees Retirement System now owns 31,600 shares of the biotechnology company’s stock worth $437,000 after buying an additional 600 shares in the last quarter. Bank of Montreal Can raised its position in shares of Innoviva by 8,741.8% in the first quarter. Bank of Montreal Can now owns 111,141 shares of the biotechnology company’s stock worth $1,537,000 after buying an additional 109,884 shares in the last quarter. Finally, Teachers Advisors LLC raised its position in shares of Innoviva by 0.7% in the fourth quarter. Teachers Advisors LLC now owns 131,396 shares of the biotechnology company’s stock worth $1,406,000 after buying an additional 879 shares in the last quarter. 75.89% of the stock is owned by institutional investors.
Innoviva, Inc. (NASDAQ INVA) traded down 1.84% during mid-day trading on Friday, reaching $12.28. The company’s stock had a trading volume of 713,670 shares. The company has a 50 day moving average of $12.89 and a 200-day moving average of $12.49. Innoviva, Inc. has a 52-week low of $8.67 and a 52-week high of $14.55. The stock has a market cap of $1.34 billion, a PE ratio of 15.45 and a beta of 2.56.
Innoviva (NASDAQ:INVA) last released its quarterly earnings data on Wednesday, July 26th. The biotechnology company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.02. The firm had revenue of $58.60 million for the quarter, compared to analyst estimates of $50.53 million. Innoviva had a negative return on equity of 27.37% and a net margin of 52.56%. The business’s revenue for the quarter was up 80.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.13 earnings per share. Equities analysts forecast that Innoviva, Inc. will post $1.14 earnings per share for the current year.
INVA has been the topic of a number of analyst reports. ValuEngine lowered Innoviva from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Cowen and Company set a $16.00 price objective on Innoviva and gave the company a “buy” rating in a report on Monday, May 1st. Zacks Investment Research lowered Innoviva from a “hold” rating to a “sell” rating in a report on Monday, July 3rd. Stifel Nicolaus reissued a “hold” rating and set a $15.00 price objective on shares of Innoviva in a report on Friday, July 28th. Finally, Robert W. Baird reissued a “neutral” rating and set a $13.00 price objective (up previously from $11.00) on shares of Innoviva in a report on Thursday, July 27th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $15.00.
In other news, VP Theodore J. Jr. Witek sold 7,815 shares of the company’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $12.01, for a total value of $93,858.15. Following the transaction, the vice president now owns 251,968 shares of the company’s stock, valued at $3,026,135.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is currently owned by corporate insiders.
Innoviva Company Profile
Innoviva, Inc, formerly Theravance, Inc, is engaged in the development, commercialization and financial management of bio-pharmaceuticals. It focuses on the respiratory assets partnered with Glaxo Group Limited (GSK), including RELVAR/BREO ELLIPTA (fluticasone furoate (FF)/vilanterol (VI)) and ANORO ELLIPTA (umeclidinium bromide/vilanterol (UMEC/VI)).
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