Inventiva (NASDAQ:IVA) Shares Gap Up – Here’s Why
by Mitch Edgeman · The Markets DailyInventiva S.A. Sponsored ADR (NASDAQ:IVA – Get Free Report) gapped up prior to trading on Wednesday. The stock had previously closed at $3.29, but opened at $3.51. Inventiva shares last traded at $3.6650, with a volume of 400,933 shares traded.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on the company. Cantor Fitzgerald assumed coverage on Inventiva in a research note on Friday, July 17th. They set an “overweight” rating on the stock. Guggenheim raised their price target on Inventiva from $11.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, September 15th. Piper Sandler reissued an “overweight” rating on shares of Inventiva in a research report on Wednesday, September 16th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Inventiva in a report on Friday, July 17th. Three investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Inventiva presently has an average rating of “Buy” and an average target price of $15.14.
Read Our Latest Stock Analysis on IVA
Inventiva Price Performance
The business has a 50-day moving average price of $4.38 and a 200 day moving average price of $4.71.
Inventiva (NASDAQ:IVA – Get Free Report) last announced its quarterly earnings data on Friday, August 14th. The company reported ($0.14) earnings per share (EPS) for the quarter. The business had revenue of $0.75 million during the quarter. On average, research analysts predict that Inventiva S.A. Sponsored ADR will post -0.86 earnings per share for the current year.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in the stock. Engineers Gate Manager LP raised its stake in Inventiva by 155.5% during the 2nd quarter. Engineers Gate Manager LP now owns 71,116 shares of the company’s stock valued at $269,000 after buying an additional 43,280 shares during the last quarter. Persistent Asset Partners Ltd bought a new position in shares of Inventiva during the 4th quarter valued at $603,000. Seven Fleet Capital Management LP purchased a new position in shares of Inventiva in the 1st quarter worth $1,111,000. Eventide Asset Management LLC purchased a new position in shares of Inventiva in the 4th quarter worth $1,155,000. Finally, Propel Bio Management LLC purchased a new position in shares of Inventiva in the 4th quarter worth $4,650,000. 19.06% of the stock is owned by hedge funds and other institutional investors.
Inventiva Company Profile
Inventiva SA is a clinical-stage biopharmaceutical company headquartered in Daix, France. The company develops small-molecule therapies for metabolic, liver and autoimmune diseases, with a focus on conditions that have limited treatment options.
Inventiva’s lead product candidate is lanifibranor, an oral pan-PPAR agonist being developed for metabolic dysfunction-associated steatohepatitis (MASH), formerly known as nonalcoholic steatohepatitis (NASH). The investigational therapy is intended to address liver inflammation and fibrosis associated with the disease and is being evaluated in late-stage clinical development.