New York Life Investment Management LLC Sells 5,035 Shares of Innoviva, Inc. (NASDAQ:INVA)

New York Life Investment Management LLC decreased its holdings in shares of Innoviva, Inc. (NASDAQ:INVAFree Report) by 13.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,599 shares of the biotechnology company’s stock after selling 5,035 shares during the period. New York Life Investment Management LLC’s holdings in Innoviva were worth $410,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in INVA. Advisor Group Holdings Inc. raised its stake in Innoviva by 12.4% during the 1st quarter. Advisor Group Holdings Inc. now owns 8,138 shares of the biotechnology company’s stock worth $153,000 after buying an additional 899 shares during the period. JPMorgan Chase & Co. raised its stake in Innoviva by 9.7% during the 1st quarter. JPMorgan Chase & Co. now owns 306,797 shares of the biotechnology company’s stock worth $5,936,000 after buying an additional 27,181 shares during the period. Bank of New York Mellon Corp raised its stake in Innoviva by 4.8% during the 1st quarter. Bank of New York Mellon Corp now owns 689,908 shares of the biotechnology company’s stock worth $13,350,000 after buying an additional 31,617 shares during the period. Cetera Advisor Networks LLC acquired a new position in Innoviva during the 1st quarter worth approximately $249,000. Finally, Acadian Asset Management LLC raised its stake in shares of Innoviva by 430.1% in the first quarter. Acadian Asset Management LLC now owns 6,292 shares of the biotechnology company’s stock worth $120,000 after purchasing an additional 5,105 shares during the last quarter. Institutional investors own 99.12% of the company’s stock.

Innoviva Stock Performance

Shares of Innoviva stock opened at $15.69 on Friday. The company has a quick ratio of 7.31, a current ratio of 8.43 and a debt-to-equity ratio of 0.71. The company has a market cap of $1.01 billion, a PE ratio of 35.66 and a beta of 0.58. The business has a 50 day moving average price of $16.01 and a 200-day moving average price of $14.18. Innoviva, Inc. has a 52 week low of $10.64 and a 52 week high of $16.86.

Analysts Set New Price Targets

Separately, StockNews.com raised Innoviva from a “hold” rating to a “buy” rating in a research note on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Innoviva currently has a consensus rating of “Hold” and a consensus price target of $15.17.

Read Our Latest Report on INVA

Innoviva Company Profile

(Free Report)

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; 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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