ABIVAX Société Anonyme (NASDAQ:ABVX) Shares Gap Up – Here’s Why

ABIVAX Société Anonyme (NASDAQ:ABVX) 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 trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Citizens Jmp upgraded ABIVAX Société Anonyme to a “strong-buy” rating in a report on Wednesday, December 4th. JMP Securities assumed coverage on shares of ABIVAX Société Anonyme in a report on Wednesday, December 4th. They issued an “outperform” rating and a $33.00 price target on the stock. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $38.67.

ABIVAX Société Anonyme Price Performance

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

Institutional Trading of ABIVAX Société Anonyme

A number of institutional investors have recently modified their holdings of ABVX. abrdn plc raised its holdings in ABIVAX Société Anonyme by 167.7% in the third quarter. abrdn plc now owns 316,431 shares of the company’s stock valued at $3,645,000 after buying an additional 198,225 shares during the period. BNP Paribas Financial Markets increased its position in shares of ABIVAX Société Anonyme by 82.6% in the third quarter. BNP Paribas Financial Markets now owns 13,044 shares of the company’s stock worth $150,000 after acquiring an additional 5,900 shares in the last quarter. Walleye Capital LLC raised its stake in shares of ABIVAX Société Anonyme by 45.8% in the 3rd quarter. Walleye Capital LLC now owns 257,417 shares of the company’s stock valued at $2,965,000 after acquiring an additional 80,807 shares during the period. Finally, Point72 Asset Management L.P. raised its stake in shares of ABIVAX Société Anonyme by 28.2% in 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 period. Hedge funds and other 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.