ABIVAX Société Anonyme (NASDAQ:ABVX) Shares Gap Up – Should You Buy?

ABIVAX Société Anonyme (NASDAQ:ABVX)’s share price gapped up prior to trading on Monday . The stock had previously closed at $7.11, but opened at $7.48. ABIVAX Société Anonyme shares last traded at $7.94, with a volume of 101,963 shares.

Analyst Upgrades and Downgrades

ABVX has been the topic of a number of recent analyst reports. JMP Securities assumed coverage on shares of ABIVAX Société Anonyme in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $33.00 price objective on the stock. Citizens Jmp upgraded ABIVAX Société Anonyme to a “strong-buy” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $38.67.

ABIVAX Société Anonyme Price Performance

The company has a fifty day moving average price of $9.38 and a two-hundred day moving average price of $11.21.

Institutional Investors Weigh In On ABIVAX Société Anonyme

Several hedge funds have recently made changes to their positions in the business. Point72 Asset Management L.P. raised its stake in 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 acquiring an additional 119,300 shares during the last quarter. abrdn plc raised its stake in shares of ABIVAX Société Anonyme by 167.7% during the third quarter. abrdn plc now owns 316,431 shares of the company’s stock worth $3,645,000 after purchasing an additional 198,225 shares during the last quarter. Walleye Capital LLC raised its stake in shares of ABIVAX Société Anonyme by 45.8% during 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. Finally, BNP Paribas Financial Markets lifted its holdings in shares of ABIVAX Société Anonyme by 82.6% during the third quarter. BNP Paribas Financial Markets now owns 13,044 shares of the company’s stock worth $150,000 after purchasing an additional 5,900 shares during the period. 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.