Oregon Public Employees Retirement Fund Sells 1,200 Shares of Innoviva, Inc. (NASDAQ:INVA)

Oregon Public Employees Retirement Fund decreased its stake in shares of Innoviva, Inc. (NASDAQ:INVAGet Rating) by 4.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,573 shares of the biotechnology company’s stock after selling 1,200 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Innoviva were worth $424,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sarissa Capital Management LP grew its holdings in shares of Innoviva by 3.1% during the 3rd quarter. Sarissa Capital Management LP now owns 6,614,000 shares of the biotechnology company’s stock worth $110,520,000 after acquiring an additional 200,000 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Innoviva by 2.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,534,695 shares of the biotechnology company’s stock valued at $42,359,000 after buying an additional 72,372 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Innoviva by 104.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,419,128 shares of the biotechnology company’s stock worth $23,714,000 after acquiring an additional 725,120 shares in the last quarter. Morgan Stanley lifted its position in Innoviva by 7.2% during the 2nd quarter. Morgan Stanley now owns 727,673 shares of the biotechnology company’s stock valued at $9,758,000 after acquiring an additional 48,777 shares during the period. Finally, Marshall Wace LLP grew its holdings in Innoviva by 43.9% in the third quarter. Marshall Wace LLP now owns 480,542 shares of the biotechnology company’s stock worth $8,030,000 after purchasing an additional 146,558 shares during the period. Institutional investors own 99.99% of the company’s stock.

A number of analysts have recently commented on the company. StockNews.com initiated coverage on Innoviva in a research report on Thursday, March 31st. They issued a “buy” rating on the stock. Morgan Stanley increased their target price on Innoviva from $12.00 to $13.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 12th.

Shares of INVA opened at $17.83 on Friday. Innoviva, Inc. has a twelve month low of $11.15 and a twelve month high of $20.71. The company has a market capitalization of $1.24 billion, a P/E ratio of 6.41 and a beta of 0.44. The firm has a 50 day moving average of $19.03 and a 200 day moving average of $17.66. The company has a quick ratio of 54.02, a current ratio of 54.02 and a debt-to-equity ratio of 0.75.

Innoviva (NASDAQ:INVAGet Rating) last posted its earnings results on Wednesday, February 9th. The biotechnology company reported $0.55 EPS for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.14. Innoviva had a return on equity of 56.88% and a net margin of 67.84%. The business had revenue of $107.68 million during the quarter. On average, sell-side analysts expect that Innoviva, Inc. will post 1.88 EPS for the current year.

In other Innoviva news, Director Innoviva, Inc. bought 5,385,208 shares of the firm’s stock in a transaction on Thursday, March 31st. The stock was acquired at an average price of $5.00 per share, with a total value of $26,926,040.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.89% of the stock is currently owned by company insiders.

About Innoviva (Get Rating)

Innoviva, Inc engages in the development and commercialization of pharmaceuticals in the United States and internationally. Its 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), umeclidinium bromide (UMEC), with a LABA, and VI; and TRELEGY ELLIPTA, a once-daily combination medicine consisting of an ICS, LAMA, and LABA.

Further Reading

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Institutional Ownership by Quarter for Innoviva (NASDAQ:INVA)

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