Pacer Advisors Inc. Sells 547,610 Shares of Innoviva, Inc. (NASDAQ:INVA)

Pacer Advisors Inc. trimmed its holdings in shares of Innoviva, Inc. (NASDAQ:INVA) by 16.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 2,810,951 shares of the biotechnology company’s stock after selling 547,610 shares during the quarter. Pacer Advisors Inc.’s holdings in Innoviva were worth $54,279,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. SG Americas Securities LLC acquired a new stake in Innoviva during the 1st quarter worth $138,000. ProShare Advisors LLC increased its holdings in Innoviva by 6.2% in the first quarter. ProShare Advisors LLC now owns 16,150 shares of the biotechnology company’s stock valued at $246,000 after purchasing an additional 942 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its stake in Innoviva by 108.8% in the first quarter. O Shaughnessy Asset Management LLC now owns 73,066 shares of the biotechnology company’s stock valued at $1,114,000 after buying an additional 38,080 shares during the period. Bessemer Group Inc. boosted its holdings in Innoviva by 333.5% during the first quarter. Bessemer Group Inc. now owns 2,211 shares of the biotechnology company’s stock worth $33,000 after buying an additional 1,701 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in Innoviva by 4.7% during the first quarter. CANADA LIFE ASSURANCE Co now owns 49,560 shares of the biotechnology company’s stock worth $755,000 after buying an additional 2,242 shares during the last quarter. 99.12% of the stock is currently owned by institutional investors and hedge funds.

Innoviva Stock Performance

INVA stock opened at $19.06 on Friday. Innoviva, Inc. has a 1-year low of $13.46 and a 1-year high of $21.28. The business’s 50-day moving average price is $19.62 and its two-hundred day moving average price is $18.05. The firm has a market cap of $1.19 billion, a PE ratio of 27.61 and a beta of 0.57. The company has a current ratio of 1.79, a quick ratio of 1.64 and a debt-to-equity ratio of 0.38.

Innoviva (NASDAQ:INVA) last released its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.25). The business had revenue of $89.51 million for the quarter. Innoviva had a net margin of 18.31% and a return on equity of 20.84%. As a group, research analysts forecast that Innoviva, Inc. will post 0.33 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on INVA shares. StockNews.com downgraded shares of Innoviva from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 6th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Innoviva in a report on Tuesday, July 30th.

Innoviva 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.