Inventiva (NASDAQ:IVA) Sees Strong Trading Volume – Here’s Why

Inventiva S.A. Sponsored ADR (NASDAQ:IVA) saw strong trading volume on Wednesday . 416,587 shares traded hands during trading, an increase of 382% from the previous session’s volume of 86,480 shares.The stock last traded at $4.54 and had previously closed at $4.66.

Wall Street Analysts Forecast Growth

IVA has been the topic of a number of research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Inventiva in a research note on Wednesday, October 8th. Wolfe Research raised shares of Inventiva to a “strong-buy” rating in a report on Thursday, November 6th. Piper Sandler initiated coverage on shares of Inventiva in a research note on Wednesday, August 27th. They set an “overweight” rating and a $26.00 price target on the stock. HC Wainwright increased their price objective on shares of Inventiva from $20.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $20.00 price objective on shares of Inventiva in a research note on Tuesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Inventiva presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.33.

Inventiva Price Performance

The business has a 50-day moving average of $4.54 and a 200-day moving average of $4.34.

Hedge Funds Weigh In On Inventiva

Several hedge funds have recently added to or reduced their stakes in IVA. Creative Planning bought a new stake in Inventiva in the second quarter worth about $32,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Inventiva by 54.5% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 16,558 shares of the company’s stock worth $50,000 after buying an additional 5,843 shares during the period. NewEdge Advisors LLC bought a new stake in shares of Inventiva during the 3rd quarter worth approximately $116,000. Finally, Millennium Management LLC purchased a new position in Inventiva during the 3rd quarter valued at $649,000. 19.06% of the stock is currently owned by institutional investors.

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.