Man Group plc Cuts Position in Innoviva Inc (NASDAQ:INVA)

Man Group plc trimmed its stake in Innoviva Inc (NASDAQ:INVA) by 28.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,510,549 shares of the biotechnology company’s stock after selling 613,423 shares during the period. Man Group plc owned 1.49% of Innoviva worth $15,921,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in Innoviva by 555.7% during the second quarter. JPMorgan Chase & Co. now owns 174,000 shares of the biotechnology company’s stock valued at $2,477,000 after purchasing an additional 147,463 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Innoviva by 32.5% during the 3rd quarter. SG Americas Securities LLC now owns 239,251 shares of the biotechnology company’s stock worth $2,522,000 after acquiring an additional 58,658 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Innoviva by 9.4% during the 2nd quarter. Renaissance Technologies LLC now owns 7,049,608 shares of the biotechnology company’s stock worth $102,642,000 after acquiring an additional 604,320 shares in the last quarter. State of Alaska Department of Revenue raised its stake in shares of Innoviva by 122.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 51,351 shares of the biotechnology company’s stock worth $541,000 after acquiring an additional 28,254 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. lifted its position in Innoviva by 5.4% during the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 29,400 shares of the biotechnology company’s stock valued at $428,000 after acquiring an additional 1,500 shares during the last quarter. 71.70% of the stock is owned by hedge funds and other institutional investors.

INVA has been the topic of several analyst reports. TheStreet lowered shares of Innoviva from a “b-” rating to a “c+” rating in a report on Thursday, August 8th. Zacks Investment Research upgraded Innoviva from a “hold” rating to a “strong-buy” rating and set a $14.00 price objective for the company in a report on Wednesday, November 6th. ValuEngine raised Innoviva from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Finally, BidaskClub upgraded Innoviva from a “hold” rating to a “buy” rating in a research note on Tuesday.

Shares of NASDAQ INVA opened at $12.88 on Tuesday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 110.18 and a current ratio of 110.18. The company has a market cap of $1.37 billion, a PE ratio of 4.02 and a beta of 1.51. The business has a 50-day simple moving average of $11.91 and a two-hundred day simple moving average of $12.41. Innoviva Inc has a fifty-two week low of $10.03 and a fifty-two week high of $20.54.

Innoviva (NASDAQ:INVA) last posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.36. The firm 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 predict that Innoviva Inc will post 2.03 earnings per share for the current fiscal year.

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.

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Institutional Ownership by Quarter for Innoviva (NASDAQ:INVA)

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