Maxim Group Begins Coverage on Abpro (NASDAQ:ABP)

Equities researchers at Maxim Group began coverage on shares of Abpro (NASDAQ:ABP) in a report released on Monday,Benzinga reports. The brokerage set a “buy” rating and a $4.00 price target on the stock. Maxim Group’s target price would suggest a potential upside of 405.37% from the company’s current price.

Abpro Price Performance

NASDAQ:ABP traded down $0.05 during trading hours on Monday, reaching $0.79. The stock had a trading volume of 41,162 shares, compared to its average volume of 67,551. Abpro has a 12-month low of $0.75 and a 12-month high of $13.00. The stock has a 50 day moving average of $1.42.

Hedge Funds Weigh In On Abpro

Several large investors have recently modified their holdings of the business. AQR Arbitrage LLC purchased a new position in Abpro in the 4th quarter valued at approximately $157,000. Atlas Merchant Capital LLC bought a new stake in shares of Abpro during the 4th quarter valued at $157,000. LMR Partners LLP bought a new stake in shares of Abpro during the fourth quarter valued at about $112,000. Geode Capital Management LLC purchased a new stake in Abpro in the 4th quarter worth approximately $53,000. Finally, Jane Street Group LLC bought a new position in Abpro in the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 23.30% of the company’s stock.

Abpro Company Profile

Abpro Holdings Inc is a biotechnology company. The company’s mission is to improve the lives of mankind facing severe and life-threatening diseases with next-generation antibody therapies. Abpro Holdings Inc, formerly known as Atlantic Coastal Acquisition Corp. II, is based in WOBURN, Mass.