ABIVAX Société Anonyme (NASDAQ:ABVX) Shares Up 4.6% – Time to Buy?

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Citizens Jmp raised ABIVAX Société Anonyme to a “strong-buy” rating in a research report 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 note 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $38.67.

ABIVAX Société Anonyme Stock Performance

The firm’s fifty day moving average price is $6.81 and its 200 day moving average price is $8.96.

Institutional Trading of ABIVAX Société Anonyme

Several institutional investors have recently bought and sold shares of the stock. ADAR1 Capital Management LLC lifted its stake in shares of ABIVAX Société Anonyme by 190.1% during the fourth quarter. ADAR1 Capital Management LLC now owns 1,513,393 shares of the company’s stock valued at $11,078,000 after acquiring an additional 991,781 shares during the period. Caligan Partners LP acquired a new position in shares of ABIVAX Société Anonyme during the 4th quarter worth about $5,506,000. JPMorgan Chase & Co. bought a new stake in shares of ABIVAX Société Anonyme during the fourth quarter worth $5,336,000. Allostery Investments LP acquired a new position in shares of ABIVAX Société Anonyme during the fourth quarter worth about $4,328,000. Finally, Nantahala Capital Management LLC grew its holdings in shares of ABIVAX Société Anonyme by 45.7% during the fourth quarter. Nantahala Capital Management LLC now owns 1,436,047 shares of the company’s stock worth $10,512,000 after buying an additional 450,413 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.