The Manufacturers Life Insurance Company Sells 1,150 Shares of Innoviva, Inc. (NASDAQ:INVA)

The Manufacturers Life Insurance Company reduced its holdings in Innoviva, Inc. (NASDAQ:INVA) by 4.1% during the third quarter, Holdings Channel.com reports. The institutional investor owned 27,112 shares of the biotechnology company’s stock after selling 1,150 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Innoviva were worth $524,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in INVA. SG Americas Securities LLC lifted its stake in shares of Innoviva by 797.4% in the 2nd quarter. SG Americas Securities LLC now owns 81,500 shares of the biotechnology company’s stock valued at $1,337,000 after purchasing an additional 72,418 shares during the period. Hennion & Walsh Asset Management Inc. bought a new position in shares of Innoviva in the 2nd quarter worth about $167,000. SummerHaven Investment Management LLC increased its stake in shares of Innoviva by 1.7% in the 2nd quarter. SummerHaven Investment Management LLC now owns 59,853 shares of the biotechnology company’s stock worth $982,000 after acquiring an additional 980 shares in the last quarter. EdgeRock Capital LLC bought a new position in shares of Innoviva in the 2nd quarter worth about $31,000. Finally, Innealta Capital LLC purchased a new position in Innoviva during the 2nd quarter valued at about $33,000. Institutional investors own 99.12% of the company’s stock.

Innoviva Stock Up 0.2 %

INVA stock opened at $18.58 on Friday. The business has a 50 day moving average of $19.47 and a 200 day moving average of $18.43. The firm has a market cap of $1.16 billion, a PE ratio of 26.93 and a beta of 0.53. Innoviva, Inc. has a twelve month low of $14.32 and a twelve month high of $21.28. The company has a quick ratio of 1.64, a current ratio of 1.79 and a debt-to-equity ratio of 0.38.

Innoviva (NASDAQ:INVA) last announced its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.25). Innoviva had a return on equity of 20.84% and a net margin of 18.31%. The company had revenue of $89.51 million during the quarter. On average, research analysts forecast that Innoviva, Inc. will post 0.33 EPS for the current fiscal year.

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.