State Board of Administration of Florida Retirement System Has $2.55 Million Stake in Innoviva Inc (INVA)

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State Board of Administration of Florida Retirement System grew its stake in Innoviva Inc (NASDAQ:INVA) by 17.4% in the 1st quarter, Holdings Channel reports. The firm owned 181,517 shares of the biotechnology company’s stock after purchasing an additional 26,961 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Innoviva were worth $2,547,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Amalgamated Bank bought a new stake in shares of Innoviva in the 4th quarter valued at approximately $194,000. Assenagon Asset Management S.A. bought a new stake in shares of Innoviva in the 4th quarter valued at approximately $3,447,000. Financial Gravity Companies Inc. bought a new stake in shares of Innoviva in the 4th quarter valued at approximately $40,000. Geode Capital Management LLC lifted its stake in shares of Innoviva by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 799,879 shares of the biotechnology company’s stock valued at $13,957,000 after purchasing an additional 23,141 shares during the last quarter. Finally, Cordatus Wealth Management LLC bought a new stake in shares of Innoviva in the 4th quarter valued at approximately $736,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ INVA opened at $14.51 on Friday. The company has a current ratio of 66.01, a quick ratio of 66.02 and a debt-to-equity ratio of 1.93. Innoviva Inc has a fifty-two week low of $13.07 and a fifty-two week high of $20.54. The company has a market capitalization of $1.47 billion, a PE ratio of 4.11 and a beta of 1.82.

Innoviva (NASDAQ:INVA) last issued its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.05). Innoviva had a return on equity of 1,674.72% and a net margin of 151.35%. The business had revenue of $55.18 million during the quarter. On average, equities research analysts anticipate that Innoviva Inc will post 1.62 earnings per share for the current year.

In other news, insider Marianne Zhen sold 5,617 shares of the stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $16.00, for a total value of $89,872.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director George Bickerstaff purchased 15,000 shares of Innoviva stock in a transaction dated Wednesday, February 27th. The stock was acquired at an average price of $15.90 per share, for a total transaction of $238,500.00. The disclosure for this purchase can be found here. Corporate insiders own 0.18% of the company’s stock.

Several research firms have recently issued reports on INVA. BidaskClub raised Innoviva from a “strong sell” rating to a “sell” rating in a research note on Friday, May 3rd. ValuEngine upgraded Innoviva from a “sell” rating to a “hold” rating in a report on Friday, May 3rd.

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Innoviva 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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