Innoviva, Inc. (NASDAQ:INVA) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System decreased its stake in shares of Innoviva, Inc. (NASDAQ:INVA) by 2.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,210 shares of the biotechnology company’s stock after selling 1,508 shares during the quarter. New York State Teachers Retirement System owned about 0.09% of Innoviva worth $918,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Pacer Advisors Inc. increased its stake in shares of Innoviva by 119,140.3% in the fourth quarter. Pacer Advisors Inc. now owns 1,728,984 shares of the biotechnology company’s stock worth $27,733,000 after acquiring an additional 1,727,534 shares during the period. Invesco Ltd. increased its stake in shares of Innoviva by 104.9% in the first quarter. Invesco Ltd. now owns 1,308,327 shares of the biotechnology company’s stock worth $25,315,000 after acquiring an additional 669,799 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Innoviva by 17.9% in the first quarter. Dimensional Fund Advisors LP now owns 3,782,204 shares of the biotechnology company’s stock worth $42,549,000 after acquiring an additional 575,010 shares during the period. Norges Bank acquired a new stake in shares of Innoviva in the fourth quarter worth $6,719,000. Finally, State Street Corp increased its stake in shares of Innoviva by 22.1% in the second quarter. State Street Corp now owns 2,457,108 shares of the biotechnology company’s stock worth $36,267,000 after acquiring an additional 445,546 shares during the period. Institutional investors and hedge funds own 99.12% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on INVA shares. TheStreet upgraded shares of Innoviva from a “c” rating to a “b-” rating in a research note on Thursday, February 29th. StockNews.com raised shares of Innoviva from a “hold” rating to a “buy” rating in a report on Friday, March 29th.

Innoviva Stock Performance

Shares of NASDAQ INVA opened at $14.69 on Friday. The company’s fifty day moving average price is $15.08 and its 200 day moving average price is $14.85. Innoviva, Inc. has a 1 year low of $11.32 and a 1 year high of $16.86. The company has a market capitalization of $928.85 million, a PE ratio of 6.74 and a beta of 0.57. The company has a debt-to-equity ratio of 0.66, a quick ratio of 7.96 and a current ratio of 9.03.

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

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.