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

Shares of ABIVAX Société Anonyme (NASDAQ:ABVX) gapped down before the market opened on Tuesday . The stock had previously closed at $7.90, but opened at $7.68. ABIVAX Société Anonyme shares last traded at $7.92, with a volume of 11,755 shares.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Citizens Jmp upgraded shares of 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 research note on Wednesday, December 4th. They set an “outperform” rating and a $33.00 price target on the stock. One investment 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 MarketBeat, ABIVAX Société Anonyme has a consensus rating of “Buy” and an average target price of $38.67.

ABIVAX Société Anonyme Price Performance

The stock has a 50-day moving average of $9.43 and a 200 day moving average of $11.27.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ABVX. Point72 Asset Management L.P. grew its position in shares of 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 period. abrdn plc boosted its position in 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 in the last quarter. Walleye Capital LLC boosted its position in 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 in the last quarter. Finally, 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 valued at $150,000 after buying an additional 5,900 shares in the last quarter. 47.91% of the stock is owned by institutional investors and hedge funds.

About ABIVAX Société Anonyme

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.