ABIVAX Société Anonyme (NASDAQ:ABVX) Shares Up 6.7% – Still a Buy?

ABIVAX Société Anonyme (NASDAQ:ABVX) shares were up 6.7% during trading on Wednesday . The stock traded as high as $8.96 and last traded at $8.86. Approximately 73,287 shares were traded during trading, a decline of 22% from the average daily volume of 93,698 shares. The stock had previously closed at $8.30.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ABVX shares. JMP Securities assumed coverage on ABIVAX Société Anonyme in a report on Wednesday. They issued an “outperform” rating and a $33.00 price objective for the company. Citizens Jmp raised shares of ABIVAX Société Anonyme to a “strong-buy” rating in a research report on Wednesday. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, ABIVAX Société Anonyme has a consensus rating of “Buy” and a consensus target price of $38.67.

ABIVAX Société Anonyme Stock Up 5.8 %

The stock’s 50 day moving average is $9.78 and its 200 day moving average is $11.59.

Institutional Investors Weigh In On ABIVAX Société Anonyme

A number of large investors have recently added to or reduced their stakes in ABVX. BNP Paribas Financial Markets lifted its position in shares of ABIVAX Société Anonyme by 82.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 13,044 shares of the company’s stock worth $150,000 after buying an additional 5,900 shares during the last quarter. Walleye Capital LLC boosted its stake in shares of ABIVAX Société Anonyme by 45.8% in the 3rd quarter. Walleye Capital LLC now owns 257,417 shares of the company’s stock valued at $2,965,000 after purchasing an additional 80,807 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in shares of ABIVAX Société Anonyme by 28.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 542,900 shares of the company’s stock valued at $6,254,000 after purchasing an additional 119,300 shares during the last quarter. Finally, abrdn plc increased its position in ABIVAX Société Anonyme by 167.7% during the 3rd quarter. abrdn plc now owns 316,431 shares of the company’s stock worth $3,645,000 after purchasing an additional 198,225 shares in 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.