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

Pacer Advisors Inc. lessened its stake in shares of Innoviva, Inc. (NASDAQ:INVA) by 16.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,810,951 shares of the biotechnology company’s stock after selling 547,610 shares during the quarter. Pacer Advisors Inc. owned 4.49% of Innoviva worth $54,279,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Intech Investment Management LLC raised its stake in Innoviva by 28.8% during the third quarter. Intech Investment Management LLC now owns 19,537 shares of the biotechnology company’s stock worth $377,000 after acquiring an additional 4,367 shares in the last quarter. Segall Bryant & Hamill LLC bought a new stake in shares of Innoviva in the 3rd quarter worth about $715,000. Caprock Group LLC acquired a new stake in shares of Innoviva during the 3rd quarter worth about $229,000. Royce & Associates LP increased its position in shares of Innoviva by 30.1% during the 3rd quarter. Royce & Associates LP now owns 57,908 shares of the biotechnology company’s stock worth $1,118,000 after purchasing an additional 13,414 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Innoviva by 3.5% during the 3rd quarter. Victory Capital Management Inc. now owns 140,454 shares of the biotechnology company’s stock valued at $2,712,000 after purchasing an additional 4,699 shares during the last quarter. Institutional investors and hedge funds own 99.12% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on INVA. StockNews.com lowered shares of Innoviva from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 6th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Innoviva in a report on Tuesday, July 30th.

Innoviva Stock Performance

Innoviva stock opened at $19.06 on Friday. The stock has a 50-day simple moving average of $19.62 and a 200 day simple moving average of $18.05. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 27.61 and a beta of 0.57. The company has a quick ratio of 1.64, a current ratio of 1.79 and a debt-to-equity ratio of 0.38. Innoviva, Inc. has a 12-month low of $13.46 and a 12-month high of $21.28.

Innoviva (NASDAQ:INVA) last announced its earnings results on Wednesday, November 6th. The biotechnology company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.25). Innoviva had a return on equity of 20.84% and a net margin of 18.31%. The company had revenue of $89.51 million during the quarter. On average, research analysts anticipate that Innoviva, Inc. will post 0.33 earnings per share for the current fiscal year.

About Innoviva

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.