ABIVAX Société Anonyme (NASDAQ:ABVX) Given “Equal Weight” Rating at Morgan Stanley

ABIVAX Société Anonyme (NASDAQ:ABVX)‘s stock had its “equal weight” rating reissued by equities research analysts at Morgan Stanley in a research report issued on Thursday, Marketbeat.com reports. They currently have a $12.00 price target on the stock. Morgan Stanley’s price objective points to a potential upside of 75.44% from the company’s previous close.

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

ABIVAX Société Anonyme Price Performance

Shares of ABIVAX Société Anonyme stock opened at $6.84 on Thursday. The stock has a 50-day moving average price of $6.70 and a 200 day moving average price of $8.60. ABIVAX Société Anonyme has a 1 year low of $5.50 and a 1 year high of $17.02.

Hedge Funds Weigh In On ABIVAX Société Anonyme

Several large investors have recently made changes to their positions in ABVX. Two Sigma Investments LP acquired a new position in shares of ABIVAX Société Anonyme during the fourth quarter worth approximately $144,000. Stonepine Capital Management LLC acquired a new stake in ABIVAX Société Anonyme in the 4th quarter worth $110,000. Shay Capital LLC bought a new position in shares of ABIVAX Société Anonyme during the 4th quarter worth about $366,000. Millennium Management LLC lifted its stake 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 buying an additional 285,542 shares during the period. Finally, Citadel Advisors LLC grew its holdings in shares of ABIVAX Société Anonyme by 83.5% during the 4th quarter. Citadel Advisors LLC now owns 855,676 shares of the company’s stock worth $6,264,000 after purchasing an additional 389,247 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.