ABIVAX Société Anonyme (NASDAQ:ABVX) Shares Gap Up to $11.81

ABIVAX Société Anonyme (NASDAQ:ABVX)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $11.81, but opened at $12.13. ABIVAX Société Anonyme shares last traded at $12.02, with a volume of 35,104 shares changing hands.

Analyst Ratings Changes

Several brokerages have recently commented on ABVX. Laidlaw assumed coverage on ABIVAX Société Anonyme in a report on Monday. They set a “buy” rating and a $48.00 price objective for the company. BTIG Research initiated coverage on shares of ABIVAX Société Anonyme in a research note on Monday, May 20th. They issued a “buy” rating and a $43.00 price target for the company. Guggenheim assumed coverage on shares of ABIVAX Société Anonyme in a report on Monday, April 29th. They set a “buy” rating and a $50.00 price objective for the company. Piper Sandler initiated coverage on ABIVAX Société Anonyme in a research report on Monday, April 29th. They set an “overweight” rating and a $42.00 price target on the stock. Finally, Morgan Stanley upped their price objective on ABIVAX Société Anonyme from $15.00 to $16.00 and gave the stock an “equal weight” rating in a report on Thursday, April 11th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, ABIVAX Société Anonyme has a consensus rating of “Moderate Buy” and a consensus target price of $36.50.

ABIVAX Société Anonyme Stock Up 0.4 %

The firm’s 50 day simple moving average is $13.32 and its two-hundred day simple moving average is $13.63. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.08 and a quick ratio of 4.08.

Institutional Investors Weigh In On ABIVAX Société Anonyme

A number of hedge funds and other institutional investors have recently modified their holdings of ABVX. Capstone Investment Advisors LLC bought a new position in ABIVAX Société Anonyme during the 4th quarter worth approximately $618,000. Commodore Capital LP bought a new position in shares of ABIVAX Société Anonyme in the fourth quarter worth approximately $20,277,000. Blackstone Inc. purchased a new position in shares of ABIVAX Société Anonyme in the fourth quarter worth $25,345,000. Franklin Resources Inc. bought a new stake in ABIVAX Société Anonyme during the 4th quarter valued at $13,630,000. Finally, Great Point Partners LLC bought a new stake in ABIVAX Société Anonyme during the 4th quarter valued at $16,585,000. Institutional investors 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.