We deduce one-parameter group properties for pseudo-differential operators Op(a), where a belongs to the class Λ∗(ω0) of certain Gevrey symbols. We use this to show that there are pseudo-differential operators Op(a) and Op(b) which are inverses to each other, where a ∈ Λ∗(ω0) and b ∈ Λ∗(1/ω0). We apply these results to deduce lifting property for modulation spaces and construct explicit isomorphisms between them. For each weight functions ω,ω0 moderated by GRS submultiplicative weights, we prove that the Toeplitz operator (or localization operator) Tp(ω0) is an isomorphism from Mp,q(ω) to M(ω/ω0)p,q for every p,q ∈(0,∞]. © 2019 World Scientific Publishing Company.