ABIVAX Société Anonyme (NASDAQ:ABVX) Trading Up 4.6% – What’s Next?

ABIVAX Société Anonyme (NASDAQ:ABVX) shares rose 4.6% during trading on Thursday . The company traded as high as $8.27 and last traded at $8.21. Approximately 60,369 shares changed hands during mid-day trading, a decline of 41% from the average daily volume of 103,118 shares. The stock had previously closed at $7.85.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. JMP Securities reissued a “market outperform” rating and set a $33.00 price target on shares of ABIVAX Société Anonyme in a research report on Friday, January 10th. Citizens Jmp raised ABIVAX Société Anonyme to a “strong-buy” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ABIVAX Société Anonyme presently has a consensus rating of “Buy” and a consensus price target of $38.67.

ABIVAX Société Anonyme Stock Down 4.6 %

The firm’s fifty day simple moving average is $6.82 and its 200 day simple moving average is $8.96.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. ADAR1 Capital Management LLC boosted its holdings in shares of ABIVAX Société Anonyme by 190.1% in the 4th quarter. ADAR1 Capital Management LLC now owns 1,513,393 shares of the company’s stock valued at $11,078,000 after purchasing an additional 991,781 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of ABIVAX Société Anonyme by 10.7% during the 4th quarter. Franklin Resources Inc. now owns 1,466,062 shares of the company’s stock worth $10,732,000 after buying an additional 141,710 shares during the last quarter. Nantahala Capital Management LLC boosted its stake in ABIVAX Société Anonyme by 45.7% in the fourth quarter. Nantahala Capital Management LLC now owns 1,436,047 shares of the company’s stock valued at $10,512,000 after buying an additional 450,413 shares in the last quarter. Millennium Management LLC boosted its stake in 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 in the last quarter. Finally, Citadel Advisors LLC grew its position in ABIVAX Société Anonyme by 83.5% in the fourth quarter. Citadel Advisors LLC now owns 855,676 shares of the company’s stock valued at $6,264,000 after acquiring an additional 389,247 shares during the last quarter. 47.91% of the stock is owned by institutional investors.

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.