Inventiva (NASDAQ:IVA) Shares Gap Down - Time to Sell?

Key Points

• Inventiva S.A. shares gapped down, opening at $5.93 after closing at $6.35, indicating a potential sell signal for investors.
• Piper Sandler has initiated coverage on Inventiva with an "overweight" rating and a price target of $26.00, while the company holds a consensus rating of "Moderate Buy" with a price target of $13.00.
• Wealth Enhancement Advisory Services LLC raised its stake in Inventiva by 54.5% in the second quarter, reflecting growing institutional interest in the stock.

Inventiva S.A. Sponsored ADR (NASDAQ:IVA - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $6.35, but opened at $5.93. Inventiva shares last traded at $5.84, with a volume of 54,940 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler started coverage on Inventiva in a research note on Wednesday. They issued an "overweight" rating and a $26.00 price objective on the stock. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, Inventiva currently has a consensus rating of "Moderate Buy" and a consensus price target of $13.00.

Inventiva Stock Performance

The firm has a 50-day moving average of $3.59 and a two-hundred day moving average of $3.33.

Institutional Investors Weigh In On Inventiva

A hedge fund recently raised its stake in Inventiva stock. Wealth Enhancement Advisory Services LLC boosted its position in shares of Inventiva S.A. Sponsored ADR (NASDAQ:IVA - Free Report) by 54.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,558 shares of the company's stock after purchasing an additional 5,843 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Inventiva were worth $50,000 at the end of the most recent quarter. 19.06% of the stock is owned by institutional investors.

Inventiva Company Profile

Inventiva SA, a clinical-stage biopharmaceutical company, focuses on the development of oral small molecule therapies for the treatment of non-alcoholic steatohepatitis (NASH) and other diseases. Its lead product candidate is Lanifibranor, which is in Phase III clinical trial to treat NASH. The company also develops Odiparcil for the treatment of patients with mucopolysaccharidoses type VI.

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