ABIVAX Société Anonyme (NASDAQ:ABVX) Trading Down 5.5% – Here’s Why

ABIVAX Société Anonyme (NASDAQ:ABVX)’s share price was down 5.5% during mid-day trading on Monday . The company traded as low as $8.98 and last traded at $8.98. Approximately 81,571 shares traded hands during trading, a decline of 12% from the average daily volume of 92,231 shares. The stock had previously closed at $9.50.

Analyst Upgrades and Downgrades

Separately, Laidlaw initiated coverage on shares of ABIVAX Société Anonyme in a research report on Monday, July 29th. They set a “buy” rating and a $48.00 price objective for the company. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, ABIVAX Société Anonyme presently has an average rating of “Moderate Buy” and a consensus target price of $39.80.

ABIVAX Société Anonyme Stock Down 4.0 %

The firm has a fifty day simple moving average of $10.58 and a 200-day simple moving average of $12.10.

Institutional Trading of ABIVAX Société Anonyme

Several hedge funds have recently bought and sold shares of ABVX. BNP Paribas Financial Markets bought a new position in shares of ABIVAX Société Anonyme in the first quarter valued at $81,000. Kennedy Capital Management LLC increased its holdings in ABIVAX Société Anonyme by 35.3% during the 1st quarter. Kennedy Capital Management LLC now owns 120,168 shares of the company’s stock worth $1,718,000 after purchasing an additional 31,331 shares in the last quarter. Walleye Capital LLC raised its stake in shares of ABIVAX Société Anonyme by 45.8% in the third quarter. Walleye Capital LLC now owns 257,417 shares of the company’s stock worth $2,965,000 after purchasing an additional 80,807 shares during the last quarter. abrdn plc lifted its holdings in shares of ABIVAX Société Anonyme by 167.7% in the third quarter. abrdn plc now owns 316,431 shares of the company’s stock valued at $3,645,000 after purchasing an additional 198,225 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its position in shares of ABIVAX Société Anonyme by 28.2% during the third quarter. Point72 Asset Management L.P. now owns 542,900 shares of the company’s stock valued at $6,254,000 after buying an additional 119,300 shares during the last quarter. Institutional investors and hedge funds own 47.91% of the company’s stock.

ABIVAX Société Anonyme Company Profile

ABIVAX Société Anonyme, a clinical-stage biotechnology company, focuses on developing therapeutics that harness the body's natural regulatory mechanisms to stablize the immune response in patients with chronic inflammatory diseases. The company is evaluating its lead drug candidate, obefazimod, in Phase 3 clinical trials for the treatment of moderately to severely active ulcerative colitis in adults.