ABIVAX Société Anonyme (NASDAQ:ABVX) Sees Large Volume Increase – Here’s Why

Shares of ABIVAX Société Anonyme (NASDAQ:ABVX) saw unusually-high trading volume on Friday . Approximately 243,086 shares traded hands during mid-day trading, an increase of 160% from the previous session’s volume of 93,390 shares.The stock last traded at $10.37 and had previously closed at $10.32.

Analyst Upgrades and Downgrades

Separately, Laidlaw assumed coverage on shares of ABIVAX Société Anonyme in a research report on Monday, July 29th. They set a “buy” rating and a $48.00 target price for the company. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $36.50.

ABIVAX Société Anonyme Stock Performance

The business has a fifty day moving average of $11.00 and a 200-day moving average of $12.49.

Institutional Investors Weigh In On ABIVAX Société Anonyme

Institutional investors and hedge funds have recently modified their holdings of the company. Capstone Investment Advisors LLC grew its stake in ABIVAX Société Anonyme by 9.0% during the first quarter. Capstone Investment Advisors LLC now owns 62,966 shares of the company’s stock valued at $900,000 after acquiring an additional 5,199 shares in the last quarter. BNP Paribas Financial Markets bought a new position in ABIVAX Société Anonyme in the 1st quarter valued at $81,000. Kennedy Capital Management LLC boosted its holdings in ABIVAX Société Anonyme by 35.3% in the 1st quarter. Kennedy Capital Management LLC now owns 120,168 shares of the company’s stock valued at $1,718,000 after purchasing an additional 31,331 shares during the period. Janus Henderson Group PLC grew its position in shares of ABIVAX Société Anonyme by 18.2% during the 1st quarter. Janus Henderson Group PLC now owns 851,839 shares of the company’s stock valued at $12,113,000 after purchasing an additional 131,414 shares in the last quarter. Finally, abrdn plc increased its holdings in shares of ABIVAX Société Anonyme by 167.7% in 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 during the period. 47.91% of the stock is owned by hedge funds and other 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.