Innoviva Inc (NASDAQ:INVA) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lowered its stake in Innoviva Inc (NASDAQ:INVA) by 13.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 58,213 shares of the biotechnology company’s stock after selling 9,070 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.06% of Innoviva worth $848,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Quantamental Technologies LLC acquired a new stake in Innoviva in the second quarter worth about $70,000. Valeo Financial Advisors LLC acquired a new stake in Innoviva in the 2nd quarter valued at about $100,000. Bank of Montreal Can lifted its holdings in Innoviva by 175.4% in the 2nd quarter. Bank of Montreal Can now owns 10,167 shares of the biotechnology company’s stock valued at $147,000 after acquiring an additional 6,475 shares during the last quarter. National Asset Management Inc. acquired a new stake in Innoviva in the 1st quarter valued at about $152,000. Finally, Fox Run Management L.L.C. acquired a new stake in Innoviva in the 2nd quarter valued at about $158,000. 75.60% of the stock is owned by institutional investors and hedge funds.

NASDAQ INVA traded up $0.06 on Friday, reaching $11.03. The company’s stock had a trading volume of 789,242 shares, compared to its average volume of 458,484. Innoviva Inc has a twelve month low of $10.76 and a twelve month high of $20.54. The company has a debt-to-equity ratio of 1.57, a quick ratio of 42.50 and a current ratio of 42.50. The stock has a market cap of $1.12 billion, a PE ratio of 3.12 and a beta of 1.51. The firm’s 50 day moving average is $11.37 and its two-hundred day moving average is $13.34.

Innoviva (NASDAQ:INVA) last issued its quarterly earnings results on Wednesday, July 24th. The biotechnology company reported $0.34 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.08). Innoviva had a net margin of 146.60% and a return on equity of 307.49%. The business had revenue of $64.11 million during the quarter. Equities research analysts anticipate that Innoviva Inc will post 1.59 EPS for the current fiscal year.

INVA has been the subject of a number of research analyst reports. TheStreet downgraded shares of Innoviva from a “b-” rating to a “c+” rating in a report on Thursday, August 8th. ValuEngine downgraded shares of Innoviva from a “sell” rating to a “strong sell” rating in a report on Friday, July 26th. BidaskClub downgraded shares of Innoviva from a “sell” rating to a “strong sell” rating in a report on Saturday. Finally, Zacks Investment Research raised shares of Innoviva from a “sell” rating to a “buy” rating and set a $13.00 price target for the company in a report on Tuesday.

Innoviva Company Profile

Innoviva, Inc engages in the development and commercialization of pharmaceuticals. The company has long-acting beta2 agonist (LABA) collaboration agreement with Glaxo Group Limited to develop and commercialize once-daily products for the treatment of chronic obstructive pulmonary disease and asthma. Its products include RELVAR/BREO ELLIPTA, a once-daily combination medicine consisting of a long-acting beta2 agonist (LABA), vilanterol (VI), an inhaled corticosteroid (ICS), and fluticasone furoate (FF); ANORO ELLIPTA, a once-daily medicine combining a long-acting muscarinic antagonist (LAMA), umeclidinium bromide (UMEC), with a LABA, and VI; and TRELEGY ELLIPTA, a once-daily combination medicine consisting of an ICS, LAMA and LABA.

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Institutional Ownership by Quarter for Innoviva (NASDAQ:INVA)

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