Inventiva (NASDAQ:IVA) Shares Gap Up - Here's What Happened

Key Points

• Inventiva's share price gapped up from a previous close of $5.52 to open at $6.04 before trading at $5.93, with a total volume of 16,614 shares.
• Analysts have given Inventiva a consensus rating of "Moderate Buy," with a target price of $14.83 and various ratings from firms including Piper Sandler and Guggenheim.
• Wealth Enhancement Advisory Services LLC raised its stake in Inventiva by 54.5% during the second quarter, highlighting increased institutional interest in the company.

Inventiva S.A. Sponsored ADR (NASDAQ:IVA - Get Free Report)'s share price gapped up before the market opened on Thursday . The stock had previously closed at $5.52, but opened at $6.04. Inventiva shares last traded at $5.93, with a volume of 16,614 shares traded.

Wall Street Analyst Weigh In

IVA has been the subject of a number of recent analyst reports. Piper Sandler initiated coverage on shares of Inventiva in a research report on Wednesday, August 27th. They set an "overweight" rating and a $26.00 target price for the company. Guggenheim increased their target price on shares of Inventiva from $9.00 to $13.00 and gave the stock a "buy" rating in a research report on Tuesday, September 2nd. Finally, HC Wainwright initiated coverage on shares of Inventiva in a research report on Wednesday, September 3rd. They set a "buy" rating and a $20.00 target price for the company. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $14.83.

Inventiva Price Performance

The firm's 50 day moving average price is $4.50 and its 200-day moving average price is $3.70.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Inventiva stock. Wealth Enhancement Advisory Services LLC raised its stake in Inventiva S.A. Sponsored ADR (NASDAQ:IVA - Free Report) by 54.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 16,558 shares of the company's stock after buying an additional 5,843 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Inventiva were worth $50,000 at the end of the most recent reporting period. Institutional investors own 19.06% of the company's stock.

About Inventiva

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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