Systematic Financial Management LP Sells 183,956 Shares of Innoviva, Inc. (NASDAQ:INVA)

Systematic Financial Management LP cut its position in Innoviva, Inc. (NASDAQ:INVA) by 8.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,889,440 shares of the biotechnology company’s stock after selling 183,956 shares during the quarter. Innoviva comprises 0.9% of Systematic Financial Management LP’s portfolio, making the stock its 24th biggest holding. Systematic Financial Management LP’s holdings in Innoviva were worth $30,987,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. EdgeRock Capital LLC acquired a new stake in Innoviva in the second quarter valued at approximately $31,000. Innealta Capital LLC bought a new stake in Innoviva during the 2nd quarter worth $33,000. Bessemer Group Inc. increased its holdings in Innoviva by 333.5% in the 1st quarter. Bessemer Group Inc. now owns 2,211 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 1,701 shares in the last quarter. GAMMA Investing LLC raised its position in Innoviva by 124.0% in the first quarter. GAMMA Investing LLC now owns 2,262 shares of the biotechnology company’s stock valued at $34,000 after purchasing an additional 1,252 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Innoviva during the first quarter valued at about $138,000. Institutional investors and hedge funds own 99.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports 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 research note on Tuesday, July 30th.

Innoviva Price Performance

Shares of NASDAQ INVA opened at $19.32 on Friday. The firm has a fifty day simple moving average of $18.90 and a 200 day simple moving average of $16.77. Innoviva, Inc. has a twelve month low of $12.22 and a twelve month high of $20.19. The company has a quick ratio of 11.40, a current ratio of 12.70 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $1.21 billion, a PE ratio of 8.70 and a beta of 0.57.

Innoviva (NASDAQ:INVA) last released its earnings results on Wednesday, July 31st. The biotechnology company reported $0.68 EPS for the quarter. The business had revenue of $99.90 million during the quarter. Innoviva had a return on equity of 33.26% and a net margin of 44.00%. On average, sell-side analysts forecast that Innoviva, Inc. will post 0.5 EPS for the current year.

Innoviva Company 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.