Morgan Stanley Reiterates “Equal Weight” Rating for ABIVAX Société Anonyme (NASDAQ:ABVX)

ABIVAX Société Anonyme (NASDAQ:ABVX)‘s stock had its “equal weight” rating reiterated by investment analysts at Morgan Stanley in a report released on Thursday, Marketbeat.com reports. They presently have a $12.00 target price on the stock. Morgan Stanley’s target price would indicate a potential upside of 75.44% from the company’s previous close.

Several other research analysts have also recently weighed in on ABVX. Citizens Jmp upgraded shares of ABIVAX Société Anonyme to a “strong-buy” rating in a research report on Wednesday, December 4th. JMP Securities reaffirmed a “market outperform” rating and set a $33.00 price target on shares of ABIVAX Société Anonyme in a research note on Friday, January 10th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $38.00.

ABIVAX Société Anonyme Trading Up 0.6 %

Shares of ABIVAX Société Anonyme stock opened at $6.84 on Thursday. ABIVAX Société Anonyme has a 12-month low of $5.50 and a 12-month high of $17.02. The company has a 50-day simple moving average of $6.70 and a 200 day simple moving average of $8.60.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. ADAR1 Capital Management LLC lifted its holdings in ABIVAX Société Anonyme by 190.1% during the 4th quarter. ADAR1 Capital Management LLC now owns 1,513,393 shares of the company’s stock worth $11,078,000 after purchasing an additional 991,781 shares during the last quarter. Franklin Resources Inc. increased its position in ABIVAX Société Anonyme by 10.7% during the 4th quarter. Franklin Resources Inc. now owns 1,466,062 shares of the company’s stock worth $10,732,000 after buying an additional 141,710 shares during the period. Nantahala Capital Management LLC lifted its holdings in shares of ABIVAX Société Anonyme by 45.7% during the fourth quarter. Nantahala Capital Management LLC now owns 1,436,047 shares of the company’s stock worth $10,512,000 after buying an additional 450,413 shares in the last quarter. Millennium Management LLC boosted its position in shares of ABIVAX Société Anonyme by 44.2% in the fourth quarter. Millennium Management LLC now owns 931,179 shares of the company’s stock valued at $6,816,000 after acquiring an additional 285,542 shares during the period. Finally, Citadel Advisors LLC grew its stake in shares of ABIVAX Société Anonyme by 83.5% in the fourth quarter. Citadel Advisors LLC now owns 855,676 shares of the company’s stock valued at $6,264,000 after acquiring an additional 389,247 shares in the last quarter. 47.91% of the stock is owned by institutional investors.

About ABIVAX Société Anonyme

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.