MetLife Investment Advisors LLC trimmed its position in shares of Innoviva Inc (NASDAQ:INVA) by 33.6% during the fourth quarter, HoldingsChannel reports. The firm owned 33,334 shares of the biotechnology company’s stock after selling 16,858 shares during the quarter. MetLife Investment Advisors LLC’s holdings in Innoviva were worth $582,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in INVA. Oregon Public Employees Retirement Fund purchased a new stake in shares of Innoviva during the fourth quarter worth $26,000. Financial Gravity Companies Inc. purchased a new stake in shares of Innoviva during the fourth quarter worth $40,000. Fort L.P. purchased a new stake in shares of Innoviva during the fourth quarter worth $90,000. Quantamental Technologies LLC purchased a new stake in shares of Innoviva during the fourth quarter worth $172,000. Finally, Magnus Financial Group LLC purchased a new stake in shares of Innoviva during the fourth quarter worth $199,000. Institutional investors own 79.06% of the company’s stock.

Several research firms recently commented on INVA. Zacks Investment Research raised Innoviva from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Friday, February 8th. BidaskClub lowered Innoviva from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 2nd. Finally, ValuEngine raised Innoviva from a “sell” rating to a “hold” rating in a report on Monday, February 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $16.50.

In related news, insider Marianne Zhen sold 5,617 shares of the stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $16.00, for a total value of $89,872.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Geoffrey Hulme bought 7,000 shares of the company’s stock in a transaction that occurred on Friday, February 15th. The stock was acquired at an average cost of $14.80 per share, for a total transaction of $103,600.00. The disclosure for this purchase can be found here. Insiders purchased 32,000 shares of company stock worth $491,100 in the last three months. 0.18% of the stock is currently owned by corporate insiders.

NASDAQ:INVA opened at $14.14 on Wednesday. The firm has a market capitalization of $1.45 billion, a P/E ratio of 4.01 and a beta of 1.86. The company has a debt-to-equity ratio of 2.41, a quick ratio of 34.92 and a current ratio of 34.92. Innoviva Inc has a 12 month low of $13.26 and a 12 month high of $20.54.

Innoviva (NASDAQ:INVA) last posted its earnings results on Wednesday, February 6th. The biotechnology company reported $2.34 EPS for the quarter. The firm had revenue of $79.86 million for the quarter. Innoviva had a negative return on equity of 508.18% and a net margin of 151.36%. Analysts predict that Innoviva Inc will post 1.43 EPS for the current fiscal year.

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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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