New York State Common Retirement Fund Decreases Stock Holdings in Innoviva, Inc. $INVA

New York State Common Retirement Fund lowered its holdings in shares of Innoviva, Inc. (NASDAQ:INVA) by 74.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,692 shares of the biotechnology company’s stock after selling 84,700 shares during the quarter. New York State Common Retirement Fund’s holdings in Innoviva were worth $524,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Marshall Wace LLP lifted its holdings in shares of Innoviva by 870.3% in the 2nd quarter. Marshall Wace LLP now owns 1,332,966 shares of the biotechnology company’s stock valued at $26,779,000 after acquiring an additional 1,195,596 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in Innoviva by 85.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,708,482 shares of the biotechnology company’s stock valued at $34,323,000 after purchasing an additional 786,409 shares during the period. American Century Companies Inc. lifted its stake in shares of Innoviva by 23.3% in the 2nd quarter. American Century Companies Inc. now owns 2,066,753 shares of the biotechnology company’s stock valued at $41,521,000 after purchasing an additional 391,056 shares during the last quarter. Boston Partners lifted its stake in shares of Innoviva by 40.6% in the 2nd quarter. Boston Partners now owns 875,084 shares of the biotechnology company’s stock valued at $17,578,000 after purchasing an additional 252,534 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Innoviva by 484.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 292,208 shares of the biotechnology company’s stock worth $5,870,000 after purchasing an additional 242,193 shares during the period. 99.12% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

INVA has been the topic of several recent research reports. Weiss Ratings restated a “buy (b)” rating on shares of Innoviva in a report on Monday, December 29th. Zacks Research cut shares of Innoviva from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 6th. HC Wainwright raised their target price on shares of Innoviva from $45.00 to $46.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. Wall Street Zen raised shares of Innoviva from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 25th. Finally, Cantor Fitzgerald increased their price objective on shares of Innoviva from $29.00 to $31.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Innoviva currently has a consensus rating of “Moderate Buy” and an average price target of $38.80.

Innoviva Trading Up 1.0%

Shares of INVA opened at $21.84 on Wednesday. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 15.94 and a beta of 0.44. The company has a debt-to-equity ratio of 0.25, a current ratio of 14.12 and a quick ratio of 13.33. Innoviva, Inc. has a 1-year low of $16.52 and a 1-year high of $22.76. The company has a 50-day moving average of $20.14 and a 200 day moving average of $19.67.

Innoviva Profile

Innoviva, Inc, incorporated in Delaware and headquartered in San Francisco, California, is a royalty-focused life sciences company. It acquires, manages and monetizes royalty and license interests in biopharmaceutical products, with a primary emphasis on inhaled respiratory therapies. Innoviva’s portfolio is anchored by royalties on therapies originally developed by its former affiliate, now marketed by GlaxoSmithKline, including several long-acting inhaled products approved for chronic obstructive pulmonary disease (COPD) and asthma.

The company was established through a spin?out transaction in 2014, separating the royalty assets from a research?based biopharmaceutical enterprise to create a specialized investment vehicle.