Louisiana State Employees Retirement System Sells 1,800 Shares of Innoviva Inc (NASDAQ:INVA)

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Louisiana State Employees Retirement System lowered its stake in shares of Innoviva Inc (NASDAQ:INVA) by 7.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,900 shares of the biotechnology company’s stock after selling 1,800 shares during the period. Louisiana State Employees Retirement System’s holdings in Innoviva were worth $324,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Innoviva by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 7,110,733 shares of the biotechnology company’s stock worth $103,532,000 after purchasing an additional 19,426 shares during the period. Northern Trust Corp increased its position in Innoviva by 1.2% in the second quarter. Northern Trust Corp now owns 948,665 shares of the biotechnology company’s stock worth $13,813,000 after buying an additional 11,299 shares during the last quarter. Nuveen Asset Management LLC purchased a new stake in Innoviva in the second quarter worth $8,336,000. Millennium Management LLC raised its stake in shares of Innoviva by 53.2% in the third quarter. Millennium Management LLC now owns 422,266 shares of the biotechnology company’s stock valued at $4,450,000 after buying an additional 146,722 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Innoviva in the third quarter valued at $3,980,000. Institutional investors own 71.34% of the company’s stock.

INVA opened at $13.92 on Tuesday. The firm has a 50-day moving average price of $14.08 and a 200-day moving average price of $12.33. Innoviva Inc has a twelve month low of $10.03 and a twelve month high of $20.54. The company has a quick ratio of 110.18, a current ratio of 110.18 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of 4.25 and a beta of 1.51.

Innoviva (NASDAQ:INVA) last announced its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.36 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.36. The company had revenue of $65.38 million for the quarter. Innoviva had a net margin of 141.80% and a return on equity of 168.69%. On average, sell-side analysts expect that Innoviva Inc will post 2.03 earnings per share for the current fiscal year.

A number of research analysts have recently commented on the company. Zacks Investment Research cut Innoviva from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. ValuEngine raised Innoviva from a “sell” rating to a “hold” rating in a report on Friday, November 1st. TheStreet upgraded Innoviva from a “c+” rating to a “b-” rating in a research note on Thursday, December 12th. Finally, BidaskClub raised shares of Innoviva from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd.

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.

Read More: Why do analysts give a neutral rating?

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Institutional Ownership by Quarter for Innoviva (NASDAQ:INVA)

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